Jaiprakash Associates Resolves Arbitration with UltraTech Cement
Jaiprakash Associates Ltd. (JAL) announced on March 27, 2026, that it has reached a consented arbitral award with UltraTech Cement Limited (UTCL) in relation to a pending arbitration. The arbitral award, dated March 25, 2026, stipulates that upon JAL’s receipt of settlement proceeds totaling INR 1,000,00,00,000 (INR One Thousand Crores) from UTCL, all claims and liabilities related to Series A Redeemable Preference Shares issued by UTCL in favor of JAL, also aggregating to INR 1,000,00,00,000 (INR One Thousand Crores), will be extinguished.Under the terms of the award, UTCL will be entitled to continue operating and maintaining the JP Super Plant and associated mines located at Kajrahat, Uttar Pradesh, including blocks 1, 2, 3, and 4, along with related infrastructure, free from any further claims by JAL.
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