UltraTech Cement Limited announced the successful conclusion of arbitration proceedings concerning the acquisition of assets from Jaiprakash Associates Limited (JAL), specifically the Dalla Super unit and associated mines in Uttar Pradesh. Following a final award passed today, March 26, 2026, all rights and interests in the Dalla unit have fully vested in UltraTech. Consequently, the 1,00,000 Series A Redeemable Preference Shares escrowed since June 27, 2017, stand fully discharged.
Resolution of Dalla Super Unit Acquisition Dispute
UltraTech Cement Limited has formally updated the stock exchanges regarding the conclusion of arbitration stemming from the Scheme of Arrangement with Jaiprakash Associates Limited (JAL) for the acquisition of certain cement plants. The key point of contention involved the Dalla Super unit and its mines in Uttar Pradesh.
Key Milestones and Settlement Details
The company had placed 1,00,000 Series A Redeemable Preference Shares (face value Rs. 1,00,000 each) into escrow on June 27, 2017, contingent upon satisfying conditions related to the Dalla unit.
The matter was subsequently referred to arbitration due to disputes between the Parties. A significant development occurred today, March 26, 2026, as the Arbitral Tribunal passed its final award, confirming the settlement reached by the Parties.
Final Vesting and Discharge of Obligations
As a result of the final award, UltraTech confirms that:
- All rights and interests in the Dalla Super unit and mines situated in Uttar Pradesh have fully vested in the Company.
- All claims, proceeds, and liabilities relating to the Series A RPS stand fully discharged.
This communication serves as the official update for the information and records of the BSE Limited and The National Stock Exchange of India Limited.
Source: BSE
