New Delhi, May 2 -- JSW Steel on Friday issued a clarification to the Indian stock exchanges, confirming the receipt of the Supreme Court of India's order regarding its resolution plan for Bhushan Power and Steel. JSW Steel share price was trading more than 6% lower.

"...we confirm that the Hon'ble Supreme Court pronounced Judgment today i.e 02-05-2025, rejecting the Resolution plan submitted by the Company and approved by NCLAT, on certain grounds," JSW Steel said in a regulatory filing.

The company had earlier indicated that it would determine its next steps after reviewing the court's order in consultation with its legal advisors.

"Once we receive the Order and are able to review the same along with our legal advisors, we will decid...