UltraTech Cement Settles Disputes, Acquires Dalla Super Unit and Uttar Pradesh Mines

UltraTech Cement Ltd. has announced the successful completion of settlement proceedings with Jaiprakash Associates Limited (JAL) regarding the acquisition of certain cement plants. The settlement follows a scheme of arrangement, approved by the National Company Law Tribunal at Mumbai and Allahabad, under which the Company issued and placed 1,00,000 Series A Redeemable Preference Shares (Series A RPS) in escrow on 27th June, 2017. The Series A RPS were to be released upon satisfaction of conditions relating to the Dalla Super unit and mines situated in Uttar Pradesh. Due to certain disputes between the Parties, the matter was referred to arbitration. Following a settlement in the arbitration and the Arbitral Tribunal passing a final award on 26th March, 2026, all rights and interests in the Dalla Super unit and mines have fully vested in the Company. All claims, proceeds, and liabilities relating to the Series A RPS are now fully discharged.