Jaiprakash Associates Limited: CoC Approves Budgeted Cash Outflows and Ratifies CIRP Costs

In a recent meeting, the Committee of Creditors (CoC) of Jaiprakash Associates Limited approved the Budgeted Cash Outflows of INR 1,064.25 crores for the period from January 01, 2025, to March 31, 2025. This decision was made to ensure the business continues as a going concern, which would be a part of CIRP costs in terms of the amended Regulation 31B of CIRP Regulations. The CoC also ratified the cost incurred of INR 669.30 crores for the period from June 03, 2024, to September 30, 2024 as CIRP costs. Additionally, the CoC approved an additional fee of INR 5 lakhs each (excluding GST and OPEs) to be incurred and payable to RNC Valuecon LLP and GAA Advisory LLP towards discharge of certain additional scope of work.