Big Win for JSW Infra: NCR Rail Acquisition Approved

JSW Infrastructure, led by Sajjan Jindal, has received approval from the Committee of Creditors (CoC) for its resolution plan to acquire NCR Rail Infrastructure under the Corporate Insolvency Resolution Process (CIRP) of the Insolvency and Bankruptcy Code (IBC), 2016. A letter of intent (LoI) has been issued by the resolution professional.

Formerly known as Arshiya Rail Infrastructure, NCR Rail operates a private freight terminal (PFT) in Khurja, Uttar Pradesh. The facility features six rail lines and two fully constructed warehouses covering 0.2 million sq. ft. Strategically located about 90 km from New Delhi and 40 km from Jewar Airport, the terminal enhances JSW Infra’s logistics footprint. The asset also includes a 130-acre land bank, which complements JSW Infra’s existing 100+ acres of undeveloped land.

The resolution plan is subject to final approvals from the National Company Law Tribunal (NCLT) and other regulatory bodies. NCR Rail entered insolvency in March 2024 following a ₹71 crore default claim filed by Edelweiss ARC. The CIRP process drew 25 expressions of interest, including one from Ambuja Cements.

News by Rahul Yelligetti.