Jaiprakash Power Ventures surged 9.97% to Rs 16.88 after the company announced settlement terms with National Asset Reconstruction Company (NARCL) in connection with insolvency proceedings initiated earlier this year.
Jaiprakash Power Ventures said NARCL and the company have agreed to settle the matter and claim for Rs 511 crore as full and final payment. The settlement is subject to fulfilment of certain other conditions and execution of definitive agreement(s).
The company said the insolvency proceedings under the Insolvency and Bankruptcy Code (IBC) will be withdrawn once all the conditions of the settlement terms are fulfilled. The company will keep the stock exchanges informed about further developments.
In February 2026, the…