Jaiprakash Associates Limited has reached a major arbitration settlement with UltraTech Cement Limited, resolving a long-pending dispute through a consented arbitral award worth INR 1,000 crore. The settlement was formalized through an arbitral tribunal award dated March 25, 2026, marking a significant development for both companies.

Settlement Terms and Financial Impact

The consented arbitral award establishes clear terms for resolving the dispute between the two companies. The key financial and operational aspects of the settlement are structured as follows:

Asset and Operational Rights

Under the settlement terms, UltraTech Cement Limited will gain comprehensive operational rights to significant industrial assets. Upon receipt of the settlement payment, all claims and liabilities related to Series A Redeemable Preference Shares worth INR 1,000 crore issued by UltraTech in favor of Jaiprakash Associates will be completely extinguished.

The agreement grants UltraTech continued rights to:

• Hold, use, and operate the JP Super Plant
• Mining operations under blocks 1, 2, 3, and 4 at Kajrahat
• Related infrastructure facilities in Uttar Pradesh
• All operations free from future claims by Jaiprakash Associates

Regulatory Compliance and Documentation

Jaiprakash Associates filed the settlement disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company's Vice President and Company Secretary, Som Nath Grover, signed the regulatory filing, ensuring compliance with stock exchange notification requirements.

The settlement represents a definitive resolution to the arbitration proceedings, providing clarity on asset ownership and operational rights while delivering significant financial compensation to Jaiprakash Associates. This consented award eliminates ongoing legal uncertainties and establishes clear operational boundaries for both companies moving forward.

Jaiprakash associates Limited has filed its mandatory monthly disclosure regarding defaults on loan payments, revealing total outstanding borrowings of ₹55,357.39 crores as on February 28, 2026. The disclosure was submitted to stock exchanges on March 5, 2026, in compliance with SEBI Circular No. SEBI/HO/CFD/CMD1/CIR/P/2019/140 dated November 21, 2019.

Corporate Insolvency Resolution Process Status

The company has been operating under the Corporate Insolvency Resolution Process since June 3, 2024, following an order passed by the Hon'ble National Company Law Tribunal, Allahabad Bench. Mr. Bhuvan Madan was initially appointed as the interim resolution professional and was subsequently confirmed as the Resolution Professional by the Committee of Creditors.

Financial Indebtedness Details

The company's disclosure reveals significant financial obligations across multiple lending institutions. The total financial indebtedness, including both short-term and long-term debt, stands at ₹55,357.39 crores as on February 28, 2026.

Lender Portfolio

The company has obligations to a diverse group of financial institutions, including:

• Public Sector Banks: State Bank of India, Punjab National Bank, Bank of Maharashtra, Canara Bank, Bank of Baroda, Indian Overseas Bank, IDBI Bank Limited, Punjab & Sind Bank, Union Bank of India
• Private Sector Banks: ICICI Bank Limited, Axis Bank Limited, Yes Bank Limited, DBS Bank India Limited, The Jammu & Kashmir Bank Limited
• Asset Reconstruction Companies: National Asset Reconstruction Company Limited (NARCL), Asset Care & Reconstruction Enterprise (ACRE) Limited, Asset Reconstruction Co India Ltd (ARCIL)
• International Lenders: The Bank of New York Mellon

Regulatory Compliance

The disclosure was filed in the specified Format C1 for default in loans, as required under SEBI regulations. The company noted that all lenders are in the process of filing their claims under the Insolvency and Bankruptcy Code 2016, and these claims are currently under verification. The nature of obligations includes various types of facilities such as Term Loans, Working Capital Term Loans (WCTL), and Fund-based and Non-fund based Intermediate Term Loans (FITL).

The disclosure was signed by Som Nath Grover, Vice President & Company Secretary, on behalf of the company, and countersigned by Resolution Professional Bhuvan Madan, whose AFA authorization is valid till December 31, 2026.