UltraTech settles dispute with Jaiprakash over Dalla Super unit and mines

Leading cement maker UltraTech Cement on Thursday said it has settled with Jaiprakash Associates Ltd (JAL) in the ongoing arbitration over the Dalla Super unit and associated mines.
In a regulatory filing, UltraTech Cements said it will redeem 1,00,000 Series A Preference Shares of face value Rs 1,00,000 each totalling Rs 1,000 crore.
This settlement will also help in monetisation of the assets of JAL in its ongoing Corporate Insolvency Resolution Process (CIRP), in which rival Adani Group has emerged as the successful resolution applicant (bidder).
With this, a long-standing dispute between UltraTech and debt-ridden JAL, which is currently going through insolvency resolution, has come to an end.
“Subsequent to the Parties reaching a settlement in respect of the arbitration and the Arbitral Tribunal passing a final award today viz. 26th March, 2026, all rights and interests in the Dalla Super unit and mines have fully vested in the company, and all claims/proceeds and liabilities .