New Delhi, Sept. 21 -- Shares of Jaiprakash Power Ventures Limited rallied nearly 12% during Monday's trading session, days after the power generation company announced payment settlement with National Asset Reconstruction Company Limited (NARCL).

The NARCL and the company have agreed to settle the matter/claim, subject to the payment of Rs.511 crores as full and final payment and fulfilment of certain other conditions. It also includes "execution of definitive agreement(s). The IBC proceedings shall stand withdrawn once all the conditions of settlement terms are fulfilled," stated the company in its BSE filing released on Friday.

The development linked to Jaiprakash Power Ventures Limited NARCL payment settlement has come days after Ad...