JSW Steel Coated Products Limited (JSWSCPL), a wholly owned subsidiary of jsw steel , has secured approval from the Committee of Creditors (CoC) of Colour Roof India Limited for its resolution plan. The CoC's decision, communicated through a letter of intent on May 28, 2026, confirms JSWSCPL as the successful resolution applicant. This development is significant as it advances the subsidiary's acquisition strategy within the corporate insolvency resolution process, pending final judicial clearance.

The approval encompasses the resolution plan originally dated July 01, 2024, which was amended and restated on April 18, 2025, along with a revised financial plan submitted as an addendum on May 13, 2026. This revised submission followed an order by the National Company Law Tribunal (NCLT), Mumbai Bench, dated April 13, 2026. The tribunal had partially allowed interlocutory applications by the erstwhile promoter, permitting them and other applicants to file revised plans.

Regulatory and Procedural Context

The sequence of events leading to the CoC approval began with intimations to the exchanges on May 25, 2025, and April 14, 2026. The NCLT's order on April 13, 2026, was a pivotal moment that required JSWSCPL to strengthen its bid by submitting the addendum. The company complied by filing the revised financial details on May 13, 2026, ensuring its proposal remained competitive against other resolution applicants.

Next Steps and Conditions

While the CoC approval marks a critical milestone, the implementation of the resolution plan is not yet final. It remains expressly subject to obtaining necessary approval from the National Company Law Tribunal, Mumbai. The company disclosed this information in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key Timeline of Events

JSW Steel has commenced the project development of a 13.2 million tonnes per annum (MTPA) integrated steel plant at Paradeep, Odisha, involving an estimated investment of about ₹65,000 crore. The project represents one of the largest investments undertaken by JSW Steel and is designed to strengthen India's manufacturing capabilities while contributing to Odisha's industrial transformation. The facility will be developed in phases across nearly 2,950 acres, utilizing the strategic coastal location for port connectivity and efficient logistics.

The project commencement ceremony was attended by the Chief Minister of Odisha, Shri Mohan Charan Majhi, and senior government officials, alongside JSW leadership led by Mr. Sajjan Jindal, Chairman & Managing Director, JSW Group. The initiative aligns with the Government of India's Mission Purvodaya, which aims to unlock the industrial potential of eastern India and accelerate inclusive economic development.

Key Project Details

The Paradeep plant is strategically positioned to serve both domestic and international markets. The project has been master-planned with the long-term potential to expand capacity in the future, in line with market demand and JSW Steel's growth strategy.

Strategic Significance

Mr. Sajjan Jindal, Chairman & Managing Director, JSW Group, stated that the project reaffirms the company's belief in India's long-term manufacturing potential and highlights Odisha's emergence as an attractive industrial destination. Mr. Jayant Acharya, Joint Managing Director & CEO, JSW Steel, noted that the coastal location and integrated infrastructure would enhance operational efficiencies and strengthen the company's ability to serve customers globally.

Mr. Anil Singh, President, JSW Steel, expressed the company's commitment to working with the Government of Odisha to build a world-class facility. The project is expected to play a crucial role in supporting the nation's industrial ambitions amidst growing steel demand driven by infrastructure development and urbanisation.