*Supreme Court has issued an order to maintain status quo regarding the proceedings before the NCLT in the matter of the liquidation of Bhushan Power and Steel Ltd.* The Supreme Court heard arguments from senior counsels representing the appellant, the first respondent (ex-promoters), and the Solicitor General for other respondents. The appellant submitted that it intends to file a Review Petition against the Court's judgment dated 02.05.2025 in _Kalyani Transco vs. Bhushan Power and Steel Ltd. & Ors._, and that the limitation period for filing the petition has not yet expired. The appellant expressed concern that implementation of the directions issued in the earlier judgment, as sought by the ex-promoters, may prejudice the outcome of the impending Review Petition. Accordingly, a request was made for a practical interim arrangement. Without delving into the merits of the case, the Court ordered status quo regarding the proceedings before the NCLT to prevent future legal complications. This interim order will remain in effect until the Review Petition is filed and decided by the Court. The Court also recorded the assurance given by the appellant's counsel that the Review Petition will be filed within the prescribed limitation period and in accordance with law. The appeal and all pending applications were disposed of in these terms. Read here: https://ibclaw.in/jsw-steel-ltd-vs-sanjay-singhal-and-ors-supreme-court/