CoC approves JSW Infra's resolution plan for NCR Rail Infrastructure

The Committee of Creditors (CoC) has approved JSW Infra's resolution plan for NCR Rail Infrastructure. The plan, subject to necessary regulatory approvals, aims to expand JSW Infra's logistics

The resolution plan submitted by Sajjan Jindal-owned JSW Infrastructure (JSW Infra) for logistics firm NCR Rail Infrastructure under the Corporate Insolvency Resolution Process (CIRP) of the Insolvency and Bankruptcy Code (IBC), 2016, has been approved by NCR Rail Infrastructure’s Committee of Creditors (CoC).

 

JSW Infra, in a note submitted to the stock exchanges on Thursday (10 July), stated that it has received a Letter of Intent (LoI) from the resolution professional on 10 July 2025.

 

NCR Rail owns and operates a Private Freight Terminal (PFT) in Khurja, Uttar Pradesh, with six rail lines. The facility is strategically located approximately 90 kilometres from New Delhi and about 40 km from the upcoming Jewar Airport.

 

The facility also features two covered, fully constructed, and operational warehouses with an area of around 0.2 million square feet. It owns a land bank of about 130 acres, which would be added to JSW Infra’s existing undeveloped land bank of over 100 acres if the resolution plan is executed.

 

The plan is subject to the terms of the LoI and requisite approvals from the National Company Law Tribunal (NCLT) and any other regulatory authority, courts, or tribunals under applicable laws.

 

In addition, insolvency proceedings against NCR Rail Infrastructure (formerly known as Arshiya Rail Infrastructure) were initiated in March 2024, as Edelweiss Asset Reconstruction Company had approached the NCLT over a default of ₹71 crore.

 

According to the NCLT order dated 2 July 2025, 25 Expressions of Interest (EoIs) were received for the resolution plan of NCR Rail Infrastructure. Adani Group-owned Ambuja Cements had also submitted an EoI for the resolution plan.

 

Earlier, in an interaction with Business Standard, Lalit Singhvi, Whole-Time Director and Chief Financial Officer at JSW Infra, had stated that the company was looking for inorganic growth opportunities to expand its logistics business, with bids submitted to the NCLT.