Legal27 Mar 2026, 03:02 pm
Jaiprakash Associates Settles Arbitration with UltraTech Cement for INR 1,000 Crores
AI Summary
Jaiprakash Associates Limited (JAL) and UltraTech Cement Limited (UTCL) have reached a consented arbitral award dated March 25, 2026. Upon JAL receiving a settlement amount of INR 1,000,00,00,000 (INR One Thousand Crores) from UTCL, all claims and liabilities towards the Series A Redeemable Preference Shares issued by UTCL in favor of JAL, amounting to the same value, will be extinguished. UTCL will continue to hold, use, operate, and enjoy the JP Super Plant and the mines under blocks 1, 2, 3, and 4 at Kajrahat and related infrastructure at Uttar Pradesh, free from any claim by JAL.
Key Highlights
- Jaiprakash Associates and UltraTech Cement reach a consented arbitral award
- JAL to receive INR 1,000 Crores from UTCL as settlement
- All claims and liabilities towards Series A Redeemable Preference Shares to be extinguished
- UTCL to continue operating JP Super Plant and mines at Kajrahat
- No further claims from JAL against UTCL's operations