Voting Results of 19th Meeting of CoC of the COmpany.
Awaiting price reaction for this filing.
Jaiprakash Associates, currently under Corporate Insolvency Resolution Process (CIRP), announced the voting outcomes of its 19th CoC meeting held on 22nd August 2025. E-voting ran from 24th to 27th August 2025, and all five resolutions were approved by the creditors. Key approvals include setting up a Challenge Process for commercial negotiations with resolution applicants (93.10% vote), ratifying a 6-day extension for submission of revised draft resolution plans, and approving related-party transactions with Jaypee Infra Ventures for project management and design services across the Teesta V, Pakal Dul, and Teesta VI projects (89.49% vote). Additional costs for a security audit and extra fees for the tax consultant M/s Dass Gupta & Associates were also cleared as part of insolvency resolution costs.
The approvals move the insolvency process forward, particularly the Challenge Process among resolution applicants, which brings the company a step closer to finalising a resolution plan. Shareholders should note that until a plan is approved and implemented, the equity value remains uncertain, but strong creditor support (around 90% in favour) suggests progress is being made.