Jaiprakash Associates Limited has informed stock exchanges about a significant development in the ongoing Enforcement Directorate (ED) investigation involving the company and its subsidiary Jaypee Infratech Ltd. The company's Executive Director Shri Manoj Gaur surrendered before judicial authorities on the evening of February 19, 2026, following the expiration of his interim bail term.

Regulatory Disclosure Details

The disclosure was made through a formal communication to both BSE Limited and National Stock Exchange of India Ltd on February 20, 2026, under reference number JAL:SEC:2026. The company filed this information as part of its continual disclosure obligations under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Ongoing Investigation Context

This latest development continues the company's series of disclosures related to the ED's investigation. The company referenced previous communications dated November 13, 2025, and January 25, 2026, indicating this is part of an ongoing regulatory matter involving both Jaiprakash Associates Ltd. and Jaypee Infratech Ltd.

Corporate Communication

The disclosure was signed by Som Nath Grover, Vice President & Company Secretary (Membership No. FCS-4055), maintaining the company's commitment to transparent communication with stakeholders and regulatory compliance. The formal notification was timestamped at 12:15:06 on February 20, 2026, ensuring timely disclosure to the stock exchanges.

The company has requested the exchanges to take this information on record as part of its regulatory obligations, demonstrating adherence to disclosure norms during ongoing legal proceedings.

Jaiprakash Associates Limited has declared its unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025, under Regulation 33 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015. The company submitted these results on February 14, 2026, while continuing to operate under Corporate Insolvency Resolution Process (CIRP).

Q3FY26 Financial Performance

The company reported significant losses during the quarter, with standalone operations showing a net loss of ₹305.33 crores for Q3FY26 compared to ₹717.02 crores loss in Q3FY25. Revenue from operations stood at ₹724.76 crores for the current quarter.

Nine Months Performance

For the nine months ended December 31, 2025, the company's standalone operations recorded a net loss of ₹1,630.72 crores compared to ₹2,073.96 crores in the corresponding period of the previous year, showing improvement in loss reduction.

Corporate Insolvency Resolution Process Status

The company remains under CIRP, with Resolution Professional Bhuvan Madan managing operations on a going concern basis. During the quarter, Adani Enterprises Limited's resolution plan was approved by the Committee of Creditors, and an application has been filed under Section 30(6) of IBC before Hon'ble NCLT Allahabad Bench seeking approval under Section 31 of the IBC.

Exceptional Items and Key Developments

The financial results include exceptional items totaling ₹318.26 crores for the quarter, primarily comprising estimated incremental impact of ₹34.00 crores due to New Labour Codes implementation and ₹295.80 crores impact from discontinuation of Bhilai Jaypee Cement Limited consolidation.

Regulatory Compliance and Audit

The financial results were taken on record by the Resolution Professional on February 14, 2026, between 5:00 PM and 5:50 PM, along with Limited Review Report from Statutory Auditors M/s. Dass Gupta & Associates, Chartered Accountants, New Delhi. The communication was signed by Som Nath Grover, Vice President & Company Secretary (ACS-4055).