Page 2 - Jaiprakash Associates Ltd

SBI files 'insolvency petition' against Jaiprakash Associates in NCLT

JAL is involved in cement manufacturing, engineering and construction, expressways, real estate, hospitalities, wind/thermal power plants at various locations all over India.

NFRA flags serious lapses in statutory audit of JAL in 2017-18

Audit regulator NFRA on Friday flagged serious lapses in the statutory audit of Jaiprakash Associates Ltd (JAL) for 2017-18, including that transactions violative of accounting and auditing standards would have resulted in more than Rs 3,200 crore loss instead of a profit before tax in the particular financial year. The infrastructure company's statutory audit for 2017-18 was conducted by Rajendra K Goel & Co. In its 207-page Audit Quality Review Report (AQRR) issued on Friday, NFRA has listed out the lapses and said the audit firm failed to comply with requirements of various Standards on Auditing (SAs) and provisions of Standards on Quality Control (SQC). "The audit firm's reporting in the 'Basis of opinion' section of Independent Auditors Report is false and misleading. "The impact of the transactions violative of accounting and auditing standards, as identified in this AQRR are such that the profit before tax of Rs 351.71 crores, as reported in the financial statements, would .

Jaypee Infratech lenders to meet on Nov 18, comply with SC direction

Jaypee group firm Jaypee Infratech went into insolvency in 2017 after the National Company Law Tribunal (NCLT) admitted an application by an IDBI Bank-led consortium seeking resolution of the firm

Jaypee to submit plan in SC to protect stuck home buyers' interest

JAL is pleading that it should be allowed to revive JIL as its liquidation will neither be in the interest of creditors, nor in the interest of home buyers.

Independent directors - are they decision-makers?

The Companies Act provides immunity to independent directors only in exceptional cases; the recent SC decision on Jaypee is a wake-up call

Jaiprakash Associates hits 52-wk high after company turns profitable in Q1

The scrip opened at Rs 26.70 and had hit a high and low of Rs 30.40 and Rs 26.70 till now

Banks eye control of JP Associates in debt-for-equity swap: Sources

Founders of real-estate-to-road building conglomerate Jaypee Group could eventually lose control of their flagship company