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Acquirer JSW Steel and the other parties to the resolution process of the insolvent entity vitiated the sanctity of the bankruptcy code, the apex court found.

Despite a higher offer, creditors chose Gautam Adani’s Adani Enterprises—setting up a courtroom fight that raises questions over the bankruptcy resolution process’s priorities.
A sharper growth push from Tata Steel is reshaping a long-running contest with JSW Steel and shifting the market’s loyalties. But can it keep its expansion-hungry rival at bay?
The domination of a few business groups—conglomerates—is a defining feature of the country’s economy. This has been enabled by policy, leading to stifled innovation and hindered progress. All of this, in turn, exacerbates inequalities.