Page 2 - Jaiprakash Associates

CCI approves Dalmia's proposal to acquire Jaiprakash Associates

The Competition Commission of India has approved Dalmia's plan to acquire JAL under insolvency resolution; Adani's proposal is still under review

JAL insolvency: Jaiprakash Infratech to challenge bid rejection in court

Jaiprakash Infratech plans legal challenge after lenders reject its bid for Jaiprakash Associates citing EMD issues, threatening delay in the ₹57,000 crore resolution process

JAL's lenders ask bidders to submit revised plans without conditions

Jaiprakash Associates' creditors have instructed bidders to submit revised resolution plans without conditions and provide a definitive bid offer

Adani Group close to acquiring Jaiprakash Associates, makes ₹12,000 cr bid

With a cash payout of ₹3,500 crore, the Adani Group is leading the race to acquire Jaiprakash Associates. The offer also includes retaining ₹890 crore within the company after its acquisition

Lenders ask bidders to sweeten offers for debt-laden Jaiprakash Associates

All five bids for Jaiprakash hinge on Supreme Court ruling over 1,000-hectare Yeida land; lenders prefer cash-heavy offers with Adani seen as current frontrunner

Adani group leads race to acquire Jaiprakash Associates with ₹12,500 cr bid

Rival bidder Dalmia group is also in the fray and is willing to top Adani's offer - provided a key legal hurdle related to JAL's Sports City project is resolved

Jaiprakash Associates' lenders to meet on July 1 to review resolution plans

Lenders of Jaiprakash Associates Ltd (JAL), which is under insolvency, will meet on July 1 to discuss resolution plans submitted by five corporates among other issues. In a regulatory filing on Monday, JAL informed that "the 16th meeting of the Committee of Creditors (CoC) of the company will be held on 1st July, 2025." The company did not mention the agenda of the CoC. Sources said the resolution plans submitted by five bidders will be discussed among few other proposals. Last week, JAL received five bids along with earnest money for the acquisition of the company through insolvency process. It did not mention the names of the companies which have submitted the resolution plans. According to sources, Billionaire Gautam Adani Group firm Adani Enterprises, mining mogul Anil Agarwal's Vedanta, Dalmia Bharat Cement, Jindal Power and PNC Infratech are the five companies which have submitted resolution plans. In April, as many as 25 companies showed interest to acquire JAL. JAL, whic

Adani, 4 others submit ₹10k-11k cr bids for Jaiprakash Associates

The Adani group, Vedanta, Jindal Steel & Power, Dalmia Bharat, and PNC Infratech are the final bidders and the offers range from ₹10,000 crore to ₹11,000 crore, said a source close to the development

Adani Enterprises, Vedanta, others in fray to acquire Jaiprakash Associates

About half a dozen companies including Adani Enterprises, Vedanta and Jindal Power have submitted resolution plans to acquire Jaiprakash Associates through an insolvency process, according to sources. On Tuesday, sources had said that Billionaire Gautam Adani group firm Adani Enterprises, mining mogul Anil Agarwal's Vedanta, Dalmia Bharat Cement and Jaypee Infratech have submitted their bids. PNC Infratech is also believed to have put in its bid. Lenders of Jaiprakash Associates Ltd (JAL) met on Wednesday to open the bids submitted by the interested parties. The last date was June 24. Resolution plan of Jaypee Infratech Ltd, which has been acquired by Mumbai-based Suraksha Group, may get rejected as it has not fulfilled certain criteria. In April, as many as 25 companies showed interest to acquire JAL. Baba Ramdev-led Patanjali Ayurved, however, did not submit the resolution plan after showing initial interest. JAL, which has business interests spanning real estate, cement ...

CoC extends Jaiprakash Associates resolution plan deadline to 24 June

Following requests from prospective bidders, the Committee of Creditors for Jaiprakash Associates has extended the resolution plan submission deadline to 24 June 2025

Jaiprakash Associates' CoC clears ₹936-cr cash outflow for June quarter

Jaiprakash Associates' CoC clears ₹936 crore cash outflow for Q1 FY26, covering routine and one-time operational expenses during ongoing insolvency proceedings

NHAI to seek conciliation with Jaiprakash Associates over ₹1,461 cr claims

State-owned NHAI has decided to go for a conciliation process on the financial dispute with bankrupt Jaiprakash Associates Ltd concerning Varanasi Gorakhpur road projects. In the ongoing dispute, Jaiprakash Associates has sought Rs 1,461.63 crore compensation for 'four laning of Varanasi Gorakhpur Section of NH-29 from Km 14B.000 to Km 20B. 300 in Uttar Pradesh under NHDP Phase-IV on EPC Mode. "The company has submitted its claims amounting to Rs 1,461.63 crore on account of deployment of resources for removal of encroachment/ encumbrances within ROW, damages for delay in providing land, damages towards payment of revised minimum wages paid and additional cost incurred due to extended duration of the project," Jaiprakash Associates Ltd said in a regulatory filing. According to the filing, NHAI has submitted its counterclaims amounting to Rs 892.24 crore on account of supervision consultancy services due to alleged delay in project completion, direct revenue loss on account of toll .

Adani, Vedanta, Patanjali among 26 vying for Jaiprakash Associates' assets

JAL was admitted to the Corporate Insolvency Resolution Process (CIRP) through the National Company Law Tribunal, Allahabad Bench, order dated June 3, 2024

Vedanta Group submits EoI to acquire Jaiprakash Associates via insolvency

Business conglomerate Vedanta Group has shown interest in acquiring Jaiprakash Associates Ltd (JAL) through an insolvency process, according to sources. Jaypee Group's flagship firm JAL, which is into cement, power, hotels, construction and real estate businesses, has been admitted into the corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016, through an order dated June 3, 2024, passed by the National Company Law Tribunal, Allahabad Bench. Sources said that Vedanta Group has submitted an Expression of Interest (EOI) to acquire the bankrupt JAL. Adani Group has also submitted an EOI. Vedanta Ltd is one of the world's leading natural resources conglomerates, with primary interests in aluminium, zinc-lead-silver, oil and gas, iron ore, steel, copper, power, ferro alloys, nickel, semiconductor and glass. Earlier this month, the National Company Law Tribunal (NCLT) directed that the resolution plans to acquire JAL through the insolvency process should

JAL's valuation may be hit after HC okays sports city land cancellation

Bankrupt real estate company has got bids from 24 parties for the sale of its assets

Insolvency-bound Jaiprakash Associates must be sold as one unit: NCLT

NCLT has said 'Form G' published by the resolution professional of JAL inviting Expression of Interest from prospective buyers

NCLAT rejects Jaiprakash Associates' petition challenging insolvency

The National Company Law Appellate Tribunal (NCLAT) on Friday rejected Jaiprakash Associates Ltd's petition challenging the insolvency proceedings initiated against the company. While upholding an earlier order, the appellate tribunal NCLAT observed mere pending of loan restructuring arrangement with the lender before NCLT does not debar the creditors to file insolvency proceedings under section 7 of Insolvency & Bankruptcy Code 2016. A three-member bench led by Chairperson Justice Ashok Bhushan has upheld the order passed by the National Company Law Tribunal (NCLT), which had directed initiating the Corporate Insolvency Resolution Process (CIRP) against the company. The appellate tribunal said "after answering all the issues, we are of the view that no grounds have been made out to interfere in order of NCLT". The OTS (one-time settlement) proposal submitted to NCLT and as well as before this tribunal on behalf of JAL contains the "clear acknowledgment of debt" and ...

Jaiprakash Associates Q1 results: Net loss widens to Rs 1,023.44 cr

Debt-ridden Jaiprakash Associates' consolidated net loss has widened to Rs 1,023.44 crore in the first quarter of this fiscal. Its net loss stood at Rs 180.80 crore in the year-ago period. The total income rose to Rs 1,770.66 crore in April-June this fiscal from Rs 1,505.23 crore in the corresponding period of the previous year, according to a regulatory filing. Jaiprakash Associates is into cement, construction, power and real estate businesses. The company is currently facing insolvency proceedings.

Nifty Microcap 250 surges 29% in 2024, outruns mid, smallcap indices

The rally in microcap stocks, according to Devarsh Vakil, Deputy Head of Retail Research, HDFC Securities, has been on the back of growth in earnings in a lot of these companies

Adani Group marks $3 bn for multiple cement acquisitions in expansion bid

Adani Cement is the second-largest cement producer in India after UltraTech Cement and is looking to capture one-fifth of the domestic cement market by FY28