Jaiprakash Power Ventures Limited announced that an application has been filed against the Company before the NCLT, Prayagraj Bench. The filing seeks initiation of the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016. The petition was lodged by National Asset Reconstruction Company Limited (NARCL), claiming a default amount totaling Rs. 511,72,82,207/- plus interest, related to a corporate guarantee.
Disclosure of Insolvency Proceedings
Jaiprakash Power Ventures Limited (JPVL) has formally informed the stock exchanges regarding the filing of an application initiating the Corporate Insolvency Resolution Process (CIRP) against the Company. The application was submitted to the Hon’ble National Company Law Tribunal (NCLT), Allahabad Bench at Prayagraj.
Creditor and Claim Details
The application was filed by National Asset Reconstruction Company Limited, acting as Trustee of NARCL Trust, through its appointed Power of Attorney Holder, India Debt Resolution Company Limited. The alleged default amount cited in the petition is substantial, amounting to Rs. 511,72,82,207/- plus applicable interest and other charges. This claim is specifically related to a corporate guarantee that JPVL extended to M/s Jaiprakash Associates Limited, which is presently under the purview of the IBC.
Current Status and Related Matters
As of the date of this announcement, 27th February, 2026, the matter concerning the CIRP initiation is awaiting its first hearing before the Hon’ble NCLT. Furthermore, the Company noted that a similar matter remains under dispute before the Hon’ble DRT-III, Delhi, concerning which a prior disclosure was made on 27th October, 2025. JPVL commits to keeping the stock exchanges informed of any material developments as they occur.
Source: BSE
