Mumbai: UltraTech Cement has resolved a long-pending dispute tied to its earlier acquisition of cement assets, clearing the path for complete control over key operations in Uttar Pradesh.
UltraTech Cement confirmed that an arbitral tribunal has passed a final award following a settlement between the company and Jaiprakash Associates Limited. The dispute was related to conditions attached to the Dalla Super unit and associated mining assets, which were part of an earlier acquisition arrangement.
With the settlement now concluded, all rights, title, and interests in the Dalla Super unit and the related mines have fully vested in UltraTech Cement. This marks the completion of a key transaction that had remained contingent on dispute resolution since the original agreement.
As part of the arrangement, liabilities tied to 1,00,000 Series A Redeemable Preference Shares of Rs 1,00,000 each—issued and held in escrow since June 27, 2017—have been fully discharged. The settlement effectively resolves all claims and obligations associated with these instruments.
The resolution removes uncertainties surrounding the asset transfer and aligns ownership with operational control. It also allows UltraTech Cement to fully integrate the unit and mines into its broader production network without pending legal or financial encumbrances. The company stated that the update follows the arbitral award dated March 26, 2026, in line with regulatory disclosure requirements.
Disclaimer: This article is based solely on the contents of the company’s official filing and does not include external analysis or independent verification.
