Jaiprakash Power Ventures Limited has informed the Exchange about filing of application under Section 7 of IBC, 2016 for the initiation of CIRP before NCLT Allahabad bench. The matter is yet to come up before the Hon'ble NCLT.
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Jaiprakash Power Ventures Limited (JPVL) has informed the exchanges that an application has been filed against it before the NCLT Allahabad Bench to initiate Corporate Insolvency Resolution Process (CIRP) under Section 7 of the IBC, 2016. The application was filed by National Asset Reconstruction Company Limited (NARCL), through its power of attorney holder India Debt Resolution Company Limited, claiming a default of approximately Rs. 511.73 crore plus interest and other charges. The default relates to a corporate guarantee that JPVL had extended to Jaiprakash Associates Limited, which is already undergoing its own IBC proceedings. The matter is yet to come up before the NCLT, and a similar dispute is already pending before DRT-III, Delhi since October 2025.
This is a significant negative development, raising the risk of insolvency proceedings against JPVL if the NCLT admits the application. Shareholders should expect heightened stock price volatility and uncertainty, though the admission is still pending and the company has indicated it will contest the matter.