Jaiprakash Associates Limited has informed the Exchange about Corporate Insolvency Resolution Process-Voting Results
Awaiting price reaction for this filing.
Jaiprakash Associates, which is currently under the Corporate Insolvency Resolution Process (CIRP), shared the e-voting results of its 14th CoC meeting held on June 19, 2025, with voting conducted from June 25–27, 2025. The CoC approved the appointment and fee of M/s. Kroll as the professional to assess eligibility of resolution applicants under Section 29A, with 85.88% support. However, proposals to appoint BDO India LLP, Baker Tilly/ASK, and Grant Thornton Bharat LLP for the same role were all rejected with 0% support. Other approved items include the cost for the security audit agency (BCL/Secure Premises and Checkmate Group) at 88.98% and the appointment of Hardicon Limited as EPC Consultant at 85.88%. The CoC also ratified the extension of the resolution plan submission deadline to June 24, 2025, and the extended gap between the 13th and 14th CoC meetings. Resolution Professional Bhuvan Madan signed off on the disclosure.
The voting results are procedural in nature, but they show creditors are actively engaged in evaluating resolution applicants. Shareholders continue to face uncertainty as the company's insolvency process is still ongoing with no approved resolution plan yet, which keeps the stock under stress.