NCLT Directs Reshuffling of Resolution Plans in Colour Roof India Limited CIRP
JSW Steel Coated Products Limited (JSWSCPL), a wholly-owned subsidiary of JSW Steel Limited, is reassessing its strategy following a significant order issued by the National Company Law Tribunal (NCLT) regarding the Corporate Insolvency Resolution Process (CIRP) of Colour Roof (India) Limited.The NCLT, Mumbai Bench, issued an order on April 13, 2026. This ruling partially allowed the interlocutory applications filed by the consortium led by the erstwhile promoters of the Corporate Debtor. These applications challenged the Committee of Creditors’ (CoC) decision, specifically regarding the rejection of a request for relaxation of eligibility criteria and the refusal to include the consortium in the final list of prospective resolution applicants that was released on April 25, 2024.
Previously, JSWSCPL had initiated its involvement in the CIRP of Colour Roof (India) Limited. The subsidiary submitted its resolution plan on July 01, 2024, and amended it on April 18, 2025. Furthermore, JSWSCPL had received a letter of intent on April 25, 2025, indicating that the CoC had approved the resolution plan submitted by JSWSCPL and had declared JSWSCPL the successful resolution applicant.
However, the NCLT's order mandates several key changes to the CIRP timeline and process. The Tribunal issued directions that include:
- Permitting the inclusion of certain applicants in the final list of prospective resolution applicants and allowing them to submit their resolution plan.
- Allowing all other resolution applicants to revise their respective financial plans upward.
- Directing the CoC to consider all such resolution plans afresh and declare the successful resolution applicant.
JSWSCPL is currently assessing the NCLT’s order and will determine its subsequent steps in the process.
JSWSTEEL Stock Price Movement
On Friday, JSW Steel Limited shares slipped by 0.97% to settle at ₹1204.2. The equity saw significant activity for the session, concluding with a total traded volume of 1.03 million shares.Source:
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