Insolvency plea filed against Jaiprakash Power before NCLT's Allahabad bench
This story was originally published at 21:32 IST on 27 February 2026
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AHMEDABAD – Jaiprakash Power Ventures Ltd. Friday said an application has been filed against it before the Allahabad bench of the National Company Law Tribunal at Prayagraj in Uttar Pradesh. In a filing with the stock exchanges, the company said the application seeks initiation of the corporate insolvency resolution process against the company under Section 7 of the Insolvency and Bankruptcy Code, 2016.
The case has been filed by National Asset Reconstruction Co. Ltd., alleging a default of INR 5.12 billion plus interest and other charges, in relation to a corporate guarantee extended by Jaiprakash Power to Jaiprakash Associates Ltd., which, too, is going through the corporate insolvency resolution process.
The tribunal is yet to take up the matter, the company said. A similar petition is under dispute before the Debt Redressal Tribunal-III, Delhi, it added.
For the December quarter, Jaiprakash Power had, on a consolidated basis, reported a net profit of INR 37.7 million on a revenue of INR 11.56 billion. Friday, its shares closed nearly 5% higher at INR 15.25 on the National Stock Exchange. End
Reported by Sunil Raghu
Edited by Rajeev Pai
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