New Delhi, July 31 -- At last, JSW Steel has secured a fresh chance to save its Rs.19,350-crore acquisition of Bhushan Power and Steel Ltd (BPSL).

The Supreme Court on Thursday recalled its earlier order that had cancelled the deal and directed BPSL's liquidation.

The court agreed to review its 2 May verdict and hear the matter afresh, offering JSW one final legal opportunity to retain control of the bankrupt steel company.

A special bench comprising Chief Justice B.R. Gavai and Justice Satish Chandra Sharma said the earlier ruling may have been based on legal errors and that this is a fit case for review.

"Prima facie, we are of the view that the impugned judgment does not correctly consider the legal position as laid down by a caten...