Intimation under Regulation 30 of SEBI (LODR) Regulations, 2015- Change in Management and Resignation of Independent Directors.
JPPOWER · price
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Following implementation of the Resolution Plan for promoter Jaiprakash Associates Limited (JAL) on 21 May 2026, Jaiprakash Power Ventures (JPPOWER) has undergone a sweeping board change on 22 May 2026. Three senior Adani Group executives have been appointed as Additional Directors: Mr. Savan Jayendra Patel (Chief Commercial Officer, Adani Power), Mr. Jayadeb Nanda (former COO, Adani Power), and Mr. Naresh Telgu (heads Adani's pumped storage and hydro portfolio). Simultaneously, three Executive Directors — Vice Chairman Sunil Kumar Sharma, Managing Director & CEO Suren Jain, and Whole-time Director Praveen Kumar Singh — all resigned with immediate effect. Both Independent Directors, Shri Dinesh Kumar Likhi and Prof. Suresh Chandra Saxena, also stepped down, citing personal and professional commitments. This marks a complete replacement of the pre-insolvency management.
The Adani Group has effectively taken control of JPPOWER's board through its senior executives. This is a major governance shift that signals potential strategic realignment, and investors should monitor for further operational or financial updates as the new team settles in.