UltraTech and Jaiprakash Associates dispute resolution.
UltraTech Cement has resolved its arbitration dispute with Jaiprakash Associates Ltd concerning the Dalla Super unit and associated mines. The settlement involves UltraTech redeeming preference shares valued at ₹1,000 crore, effectively concluding a long-standing disagreement between the two entities.
This resolution aids Jaiprakash Associates in monetizing its assets during its ongoing insolvency process, where Adani Group has emerged as the successful bidder. The arbitration’s settlement terms provide a clearer financial path for Jaiprakash Associates as it navigates its insolvency proceedings.
The settlement marks a significant step for both companies, allowing UltraTech to remove uncertainty related to the Dalla Super unit and enabling Jaiprakash Associates to streamline its asset monetization efforts under the insolvency resolution.
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