The bench said this issue has already been decided already. BPSL was among the 12 large corporate defaulters, often referred to as the RBI's "dirty dozen" as identified in June 2017 for insolvency resolution. With admitted claims of over Rs 47,000 crore from financial creditors and more than Rs 600 crore from operational creditors, the case soon became one of the largest insolvency proceedings in the country. JSW Steel emerged as the highest evaluated bidder in October 2018 and subsequently secured approval from the CoC. However, the resolution process became mired in litigation after investigative agencies, including the CBI and ED, initiated proceedings against BPSL and its promoters on allegations of fraud and money laundering. In September 2019, the NCLT approved JSW's plan subject to conditions, which were later modified by the NCLAT in February 2020. Few appeals were followed and led to filing of pleas in the top court.