Mumbai, Sept. 21 -- 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The company said the insolvency proceedings under the Insolvency and Bankruptcy Code (IBC) will be withdrawn once all the conditions of the settlement terms are fulfilled.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 company had informed that NARCL had filed an application before the NCLT, Allahabad Bench, for initiation of Corporate Insolvency Resolution Process (CIRP) against the company under Section 7 of the Inso...