Voting Results of 13th Meeting of CoC.
Awaiting price reaction for this filing.
Jaiprakash Associates, currently under Corporate Insolvency Resolution Process (CIRP), disclosed voting results of its 13th CoC meeting held on 14th May 2025. E-voting took place between 21st–23rd May 2025, and all 8 resolutions were approved with around 86–89% majority. Key approvals include a quarterly cash outflow budget of INR 936.27 crores for April–June 2025 to keep operations running, authorization for the Resolution Professional to initiate CIRP against subsidiary Bhilai Jaypee Cement Limited, and appointment of statutory, secretarial, cost and internal auditors for FY 2025-26 and beyond. The filing was made by Resolution Professional Bhuvan Madan under SEBI LODR disclosure norms.
Routine procedural update for a company still under insolvency resolution — no immediate trigger for share price movement, but the move to push Bhilai Jaypee Cement into its own insolvency shows the resolution process is expanding in scope. Shareholders remain without clarity on the ultimate resolution plan or recovery value.