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Jaiprakash Associates' CoC clears ₹936-cr cash outflow for June quarter
Jaiprakash Associates' CoC clears ₹936 crore cash outflow for Q1 FY26, covering routine and one-time operational expenses during ongoing insolvency proceedings
New Delhi
Lenders of Jaiprakash Associates have approved a planned cash expenditure of ₹936.27 crore for the ongoing quarter to help the company sustain its operations.
In a regulatory filing made on Saturday, Jaiprakash Associates stated that its Committee of Creditors (CoC) has approved 'the budgeted cash outflows of the Corporate Debtor for the period from 1 April 2025 to 30 June 2025, of up to ₹936.27 crore.'
The approved sum includes routine operational expenses amounting to ₹856.73 crore, along with one-time expenses of ₹79.54 crore.
According to the company, the cash outflows are necessary 'to ensure that the business continues as a going concern, which would form part of 'insolvency resolution process costs' under the Insolvency and Bankruptcy Code, 2016.'
Around 88 per cent of the shareholders had approved the decision.
Jaiprakash Associates, currently undergoing insolvency proceedings, also disclosed that the Enforcement Directorate conducted searches on 23 May. The company is fully cooperating with the authorities.
The shareholders also authorised the resolution professional to submit an application to initiate the corporate insolvency resolution process of Bhilai Jaypee Cement Limited (BJCL) in accordance with the provisions of the Insolvency and Bankruptcy Code, 2016.
The BJCL insolvency decision received over 88 per cent of shareholder votes.
The shareholders, with an approval vote of 85.98 per cent, also endorsed the appointment of M/s Dass Gupta & Associates as the statutory auditors of the company.
Their appointment will cover the financial years 2025–26 to 2029–30. For the financial year 2025–26, the audit fee has been set at ₹80 lakh, in addition to applicable GST and out-of-pocket expenses (OPE) on an actual basis.
Jaiprakash Associates, the flagship company of the troubled Jaypee Group, operates across sectors including cement, construction, power, real estate, and hospitality, among others.
Jaypee Group's subsidiary, Jaypee Infratech, had been acquired by Mumbai-based Suraksha Group.
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