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Informist, Friday, May 22, 2026

 

--Jaiprakash Associates to delist shrs from effective date of resolution plan 

 

MUMBAI – Jaiprakash Associates Ltd. late Thursday said shares of the company stand delisted following implementation of the resolution plan submitted by Adani Enterprises Ltd. for acquisition of the company which had been going through corporate insolvency resolution. Shares of Jaiprakash Associates have been delisted from the effective date of the resolution plan, it said in an exchange filing. Thursday was the effective date under the resolution plan.

 

The monitoring committee, at its fourth meeting Thursday, approved selective cancellation of existing issued, subscribed, and paid-up share capital, both equity and preference shares, of the company, in furtherance of the approved resolution plan. It also approved the allotment of 5 million shares in the company to Adani Infra (India) Ltd., a subsidiary of Adani Enterprises, and its nominees for INR 10 million. 

 

The resolution plan put forth by Adani Enterprises was approved by the committee of creditors of Jaiprakash Associates last year. Entities that had bid to take over Jaiprakash Associates included Vedanta Ltd., Dalmia Bharat Ltd., and Jindal Power Ltd.  End

 

Reported by Arya S. Biju

Edited by Rajeev Pai

 

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