In a significant development for the debt-ridden Jaiprakash Associates, voting is currently underway on five resolution plans submitted by major industry players. The Committee of Creditors (CoC), led by National Asset Reconstruction Company Ltd (NARCL), is evaluating proposals from Vedanta Group, Adani Group, Dalmia Bharat Group, Jindal Power, and PNC Infratech.

Voting Process and Timeline

The voting window for these resolution plans remains open until November 20, allowing creditors to assess and choose the most suitable proposal for the company's debt resolution.

Resolution Plans Overview

Here's a breakdown of the resolution plans under consideration:

Key Highlights

• Highest Bid: Vedanta Group has submitted the highest absolute offer at ₹16,000.00 crore, with ₹3,770.00 crore upfront and the remaining ₹13,000.00 crore spread over five years.
• Competitive Offer: Adani Group's proposal stands at ₹13,500.00 crore, with a higher upfront payment of ₹6,005.00 crore and ₹6,726.00 crore after two years.
• Net Present Value: In terms of net present value, Vedanta's proposal (₹12,505.00 crore) slightly edges out Adani's (₹12,050.00 crore).

Jaiprakash Associates' Financial Situation

Jaiprakash Associates is facing admitted claims of ₹57,185.00 crore from creditors. The company's assets include:

• Cement facilities
• Real estate developments
• Infrastructure projects

The outcome of this voting process will be crucial in determining the future of Jaiprakash Associates and its ability to resolve its substantial debt burden. The resolution plan selected by the creditors will play a pivotal role in the company's potential turnaround and the recovery of dues for the lenders involved.

As the voting process continues, stakeholders will be closely watching to see which proposal gains favor with the Committee of Creditors and how it might impact the company's future operations and financial health.

Jaiprakash Associates Limited (JAL), currently under Corporate Insolvency Resolution Process (CIRP), has announced its plans to release its financial results for the second quarter of the fiscal year 2025-26. The company, which is operating under the supervision of a Resolution Professional as per the Insolvency and Bankruptcy Code, will be disclosing its un-audited standalone and consolidated financial statements on November 14, 2025.

Key Details of the Announcement

Trading Window Closure

In compliance with the SEBI (Prohibition of Insider Trading) Regulations, 2015, as amended, and the company's internal Code of Conduct, JAL has implemented a trading window closure. This precautionary measure aims to prevent insider trading and ensure fair market practices.

During this period, which extends from October 1, 2025, to November 16, 2025:

• Employees
• Directors
• Key Managerial Personnel
• Designated Persons
• Their immediate relatives

are prohibited from trading in the company's shares or securities.

Corporate Insolvency Resolution Process

It's important to note that Jaiprakash Associates Limited is currently undergoing a Corporate Insolvency Resolution Process. Under this process, a Resolution Professional is performing the functions as stipulated by the Insolvency and Bankruptcy Code. This situation adds a layer of complexity to the company's operations and financial reporting.

Investors and stakeholders are advised to consider this context when reviewing the upcoming financial results. The performance and future outlook of the company may be significantly influenced by the ongoing insolvency proceedings.

As the company prepares to release its Q2 FY26 results, market participants will be keenly watching for any signs of financial recovery or restructuring progress. The forthcoming financial statements may provide crucial insights into the company's current financial health and its ability to navigate through the insolvency process.