Annual General Meeting
Awaiting price reaction for this filing.
Jaiprakash Associates Ltd held its 28th AGM on 29th September 2025 through video conferencing. The company is currently under Corporate Insolvency Resolution Process (CIRP), which started in June 2024 following an NCLT order, with Shri Bhuvan Madan acting as the Resolution Professional. Mr. Madan addressed shareholders on the latest CIRP developments and assured them of efforts to protect company value and run operations as a going concern. Eleven resolutions were tabled, covering adoption of FY25 financial statements, reappointment of Pankaj Gaur as director, reappointment of statutory auditors, appointment of secretarial auditors, and appointments and remuneration for executive directors Manoj Gaur, Pankaj Gaur and Naveen Kumar Singh. Out of 6,47,516 members on record, 120 attended (3 from promoter group, 117 from public). The Chairman flagged qualifications in the audit reports. E-voting results were to be announced within two working days.
The ongoing insolvency process remains the biggest factor for shareholders, with the AGM operating under the Resolution Professional's framework. Approval of director appointments and pay during CIRP shows management continuity, but the ultimate resolution plan and CIRP outcome will drive the stock's direction. Audit qualifications noted in the report are a point to watch.