JSW Energy has secured creditor approval for its proposal to acquire Raigarh Champa Rail Infrastructure, a debt-laden company currently undergoing insolvency proceedings.

Earlier this year, in March, JSW Energy acquired KSK Mahanadi Power Company Ltd (KMPCL)—a 3,600 MW thermal power plant in Chhattisgarh—for Rs 160.84 billion through the insolvency process.

Following that acquisition, the company obtained significant indirect ownership in Raigarh Champa Rail Infrastructure Private Limited (RCRIPL), which provides the sole rail infrastructure for coal transportation to KMPCL.

In an exchange filing on Thursday, JSW Energy stated: “We wish to inform that the resolution plan submitted by the company for RCRIPL under the corporate insolvency resolution process has been approved by the Committee of Creditors.” The company added that it received a Letter of Intent from the Resolution Professional on Wednesday.

The closure of the transaction remains subject to approval from the National Company Law Tribunal.