This development marks a significant step in the insolvency process of Jaiprakash Associates, the promoter company of Jaiprakash Power Ventures Limited.

The resolution plan, dated October 14, 2025, and clarified via email on November 5, 2025, was approved under Section 31 of the Insolvency and Bankruptcy Code, 2016. The approval was given on March 17, 2026, and is part of the ongoing corporate insolvency resolution process for Jaiprakash Associates.

As part of the approved resolution plan, the securities of Jaiprakash Associates will be delisted from the relevant stock exchanges. This delisting will occur in accordance with applicable law following the NCLT's approval. The resolution plan indicates that the liquidation value of Jaiprakash Associates is insufficient to satisfy the claims of secured creditors in full, resulting in a NIL consideration for the shareholders as part of the delisting process.

Furthermore, all necessary actions to effect the delisting will be undertaken immediately following the NCLT's approval. The resolution professional, insolvency professional, relevant stock exchanges, and other stakeholders are expected to cooperate and assist Adani Enterprises in this regard. The share capital of Jaiprakash Associates, including equity shares and preference shares, will be entirely cancelled and extinguished for zero consideration on the effective date, which is defined in the resolution plan as a date not later than 90 days from the NCLT's approval.

This announcement follows a previous disclosure made on November 27, 2025, regarding the application for the approval of the resolution plan filed with the NCLT.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).