JSWSCPL's Resolution Plan Gets Committee of Creditors Approval in Corporate Insolvency Process
JSW Steel Coated Products Limited (JSWSCPL), a wholly owned subsidiary of JSW Steel Limited, has received approval for its resolution plan from the Committee of Creditors (CoC) regarding the corporate insolvency resolution process of Colour Roof India Limited, the Corporate Debtor.The successful outcome follows procedural steps initiated by the National Company Law Tribunal (NCLT), Mumbai Bench. Earlier, the NCLT had issued an order allowing the erstwhile promoter of the Corporate Debtor and other resolution applicants to file revised financial plans.
JSWSCPL proceeded to file a revised financial plan. This revision was submitted as an addendum on May 13, 2026, supplementing the company’s original resolution plan dated July 01, 2024 (which had been previously amended and restated on April 18, 2025).
The critical development occurred on May 28, 2026, when JSWSCPL received a letter of intent from the resolution professional of the Corporate Debtor. This communication confirmed that the Committee of Creditors (CoC) had approved the comprehensive resolution plan, including the addendum, put forth by JSWSCPL.
Consequently, JSWSCPL maintains its status as the successful resolution applicant in the ongoing process. The final implementation of the resolution plan remains contingent upon obtaining the necessary approval from the National Company Law Tribunal, Mumbai.
JSWSTEEL Stock Price Movement
JSW Steel Limited shares today slipped by 2.47% to settle at ₹1278, closing ₹32.30 lower from its previous close of ₹1309.3. The stock traded on a volume of 3.13 million shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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