Voting Results of 26th Meeting of CoC
Awaiting price reaction for this filing.
Jaiprakash Associates, currently under Corporate Insolvency Resolution Process (CIRP), announced the e-voting results of its 26th Committee of Creditors (CoC) meeting. Three items were put to vote between February 20-25, 2026, and all were approved with 89.15% voting share, well above the required thresholds. Item 1 approved budgeted cash outflows for January-March 2026 to keep the company running as a going concern. Item 2 ratified a bank guarantee from Bhutan National Bank Ltd for the Khorlochhu hydro project (600 MW) in Bhutan, to be classified as interim finance under the IBC. Item 3 ratified the extended gap between the 25th (Dec 12, 2025) and 26th (Feb 12, 2026) CoC meetings.
The approvals are routine procedural matters within the ongoing insolvency process and signal continued operational activity, including a new project bid in Bhutan. Shareholders should note that the company remains under CIRP and no resolution plan has been approved yet, so equity holders continue to face uncertainty on recovery.