JSW Steel Coated Products Limited (JSWSCPL), a wholly-owned subsidiary of JSW Steel, has received a letter of intent from the resolution professional of Colour Roof (India) Limited, indicating its successful bid in the corporate insolvency resolution process (CIRP). The committee of creditors approved JSWSCPL’s resolution plan, declaring the company the successful resolution applicant.
The completion of the transaction is contingent upon receiving the necessary approval from the National Company Law Tribunal (NCLT), Mumbai.
JSWSCPL had submitted its resolution plan for Colour Roof India on July 1, 2024, which was subsequently amended on April 18,…
