News Stocks Jaiprakash Associates Committee of Creditors Approves Budget and Bank Guarantee with 89.15% SupportJaiprakash Associates Committee of Creditors Approves Budget and Bank Guarantee with 89.15% Support
Jaiprakash Associates Limited's Committee of Creditors approved three key resolutions with 89.15% voting support during the 26th meeting held February 12, 2026. The approvals include budgeted cash outflows for January-March 2026 operations, ratification of a bank guarantee for Bhutan's Khorlochhu HEP project, and meeting interval extension. The company continues operating under Corporate Insolvency Resolution Process with strong creditor confidence.
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Jaiprakash Associates Limited's Committee of Creditors (CoC) has demonstrated strong support for the company's operational continuity by approving three critical resolutions with an overwhelming 89.15% voting percentage during its 26th meeting held on February 12, 2026.
CoC Meeting Outcomes and Voting Results
The e-voting process for the 26th CoC meeting commenced at 9.00 P.M. on February 20, 2026, and concluded at 4.00 P.M. on February 25, 2026, in accordance with Regulation 26 of the CIRP Regulations. All three resolutions presented to the creditors received approval with the same voting percentage of 89.15%.
| Item | Resolution Details | Required Voting % | Achieved Voting % | Status |
|---|---|---|---|---|
| 1 | Budgeted cash outflows approval for January-March 2026 | 51.00% | 89.15% | Approved |
| 2 | Bank guarantee ratification for Bhutan project | 66.00% | 89.15% | Approved |
| 3 | Meeting interval extension ratification | 51.00% | 89.15% | Approved |
Operational Budget Approval
The CoC approved the budgeted cash outflows for the period from January 01, 2026, to March 31, 2026, ensuring business continuity as a going concern. This approval allows the company to maintain operations during the insolvency resolution process, with these expenditures forming part of the 'insolvency resolution process costs' under the Insolvency and Bankruptcy Code, 2016.
Bhutan Project Bank Guarantee
Creditors ratified the availing of a bank guarantee issued by Bhutan National Bank Ltd for bid security related to HM & EM Packages of Khorlochhu HEP (600 MW) project in Bhutan. The guarantee is structured as a lien over cash maintained in the company's bank account with Bhutan National Bank Ltd. This arrangement qualifies as 'interim finance' under Section 28(1)(a) and Section 28(1)(b) of the Insolvency and Bankruptcy Code, 2016, with associated costs approved as insolvency resolution process costs.
Regulatory Compliance
The CoC also ratified the extension of the interval beyond 30 days between the 25th CoC meeting held on December 12, 2025, and the current 26th meeting held on February 12, 2026. This extension complies with the Proviso to Regulation 18(1) of the CIRP Regulations, ensuring proper governance during the insolvency resolution process.
Corporate Insolvency Resolution Process Status
Jaiprakash Associates Limited continues to operate under the Corporate Insolvency Resolution Process (CIRP), with Bhuvan Madan serving as the Resolution Professional. The company maintains its registered office in Sector-128, Noida, Uttar Pradesh, and operates additional offices in Delhi and Ghaziabad. The strong creditor support demonstrated through the 89.15% voting percentage across all resolutions indicates confidence in the company's restructuring efforts and operational plans.
Historical Stock Returns for Jaiprakash Associates
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -2.34% | -10.43% | -1.02% | -23.16% | -30.81% | -63.73% |
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