Jaiprakash Associates Limited has informed the Exchange about Corporate Insolvency Resolution Process-Extension in time for submission of Resolution Plans by the ProspectiveResolutions Applicants
Awaiting price reaction for this filing.
Jaiprakash Associates, which is currently undergoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016, has received approval from the Committee of Creditors to extend the deadline for Prospective Resolution Applicants (PRAs) to submit their resolution plans. The original deadline of 9th June 2025 has been extended by 15 days to 24th June 2025, following requests from several PRAs. The company had originally invited expressions of interest via Form G on 10th January 2025. The disclosure is signed by the appointed Resolution Professional, Bhuvan Madan, indicating that the company is under insolvency proceedings and managed by the RP rather than its own board.
The extension signals that bidders need more time to prepare their offers, which is common in large insolvency cases but also prolongs uncertainty for shareholders. Existing equity holders remain at high risk of dilution or significant loss of value, as the outcome of the CIRP will determine the future ownership structure of the company.