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Informist, Thursday, Jan. 22, 2026

 

--NCLT approves JSW Infra's INR-4.67-bln resolution plan for NCR Rail Infra

 

By Surya Tripathi

 

NEW DELHI – The Mumbai bench of the National Company Law Tribunal Thursday approved JSW Infrastructure Ltd.'s INR-4.67-billion resolution plan for debt-ridden NCR Rail Infrastructure Ltd. The tribunal said the plan met the requirements of the Insolvency and Bankruptcy Code and the Insolvency and Bankruptcy Board of India (Insolvency Process for Corporate Persons) Regulations.

 

The tribunal had admitted Edelweiss Asset Reconstruction Co. Ltd.'s plea to start insolvency proceedings against NCR Rail Infrastructure in 2024. Other creditors of NCR Rail Infrastructure include Bank of India, Union Bank of India, Karur Vysya Bank and SREI Equipment Finance Ltd. NCR Rail Infrastructure had total admitted claims of INR 27.37 billion. 

 

Both JSW Infrastructure and Ambuja Cements Ltd. had submitted resolution plans for NCR Rail Infrastructure. Since both the plans received 100% voting in their favour from the committee of creditors, the tie-breaker clause was invoked, under which the resolution plans of JSW Infrastructure and Ambuja Cements received 100/100 and 89.18/100 marks, respectively. Consequently, JSW Infrastructure was declared as the successful resolution applicant of NCR Rail Infrastructure and was issued an unconditional letter of intent in July, 2025. 

 

NCR Rail Infrastructure, formerly known as Arshiya Rail Infrastructure Ltd., is engaged in logistics and primarily owns and operates a private freight terminal in Khurja, Uttar Pradesh, and provides related cargo and warehousing services.

 

JSW Infrastructure, a part of the JSW group and the second-largest private port operator in India, has a significant cargo-handling capacity of 170 million tonnes per annum, according to the order. JSW Infrastructure provides port facilities at key locations along the east and west coasts of India, it said.  JSW Infrastructure also manages operations at two dry bulk terminals in Fujairah and Dibba, United Arab Emirates, it added.

 

Thursday, shares of JSW Infrastructure ended 0.6% lower at INR 265.40 on the National Stock Exchange.  End

 

Edited by Saji George Titus

 

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