 "Creditors' total admitted claims against Jaiprakash Associates stand at over ₹59,000 crore. In all current offers, banks will face a haircut of up to 79 per cent.")
The Committee of Creditors (CoC) of Jaiprakash Associates Ltd (JAL) is in the final phase of assessing resolution plans of five shortlisted bidders, with lenders prioritising upfront cash and urging bidders to sweeten their offers. In meetings held on Monday between the lenders and the bidders, the former discussed the structure and funding of the proposed resolution plans.
All bids, however, remain contingent on the outcome of a key legal case surrounding Jaiprakash’s 1,000-hectare Sports City project in Greater Noida. In March, the Allahabad High Court had upheld a decision by the Yamuna Expressway Industrial Development Authority (Yeida) to cancel
