Jaypee Group

Why former Jaypee Infratech MD was arrested in money laundering case

Manoj Gaur, who was accused of cheating multiple home buyers, was arrested under the Prevention of Money Laundering Act

NCLT orders proceedings against Bhilai Jaypee Cement over ₹45 cr default

The National Company Law Tribunal (NCLT) has directed for initiation of insolvency proceedings against Bhilai Jaypee Cement, a subsidiary of debt-ridden group Jaiprakash Associates Limited, for a default of Rs 45 crore. The direction of Cuttack bench of NCLT came after it admitted a plea filed by the company's operational creditor Sidhgiri Holdings Pvt Ltd, to which Bhilai Jaypee Cement owed Rs 45 crore against supply of coal. A two-member NCLT bench also appointed an interim resolution professional (IRP), suspending the board of the company and putting it under the protection of moratorium against encumbrance of assets through sale, civil suits etc, as per the provisions of the Insolvency & Bankruptcy Code (IBC). "We are inclined to hold that there exists an outstanding operational debt, a default and accordingly the present Application... under Section 9 of the Code read with Rule 6 of Insolvency & Bankruptcy Rules, 2O16 for initiating CIRP of Bhilai Jaypee Cement is ...

Lenders ask Vedanta, Adani to revise Jaiprakash bids, detail funding plans

Lenders have asked Vedanta, Adani and other suitors for Jaiprakash Associates to submit revised bids and prove funding strength amid debt and asset viability concerns

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

T'gana tunnel collapse: Accidents happen in tough jobs, says Jaypee chief

Jaiprakash Gaur, Founder Chairman of Jaypee Group, the contracting firm of Srisailam Left Bank Canal project that suffered partial collapse trapping eight persons, on Wednesday said accidents may happen during difficult works. Jaiprakash Associates Ltd the flagship company of Jaypee Group was awarded the contract of tunnel boring of SLBC. Speaking to reporters at the accident site, after meeting Minister Komatireddy Venkat Reddy, the nonagenarian said he had seen six to seven accidents during his professional career. "In these difficult works, such things happen. In my life, I think there might be six or seven accidents, the Tehri (project), in Bhutan, in J&K, everywhere. You have to encounter all this," he said. Gaur further said the teams are doing their best to see that those trapped individuals come out. Two engineers and four labourers of the eight trapped persons are working for Jaiprakash Associates. The firm on February 23 informed the stock exchanges that a day before,

Max to buy 64% stake in Jaypee Healthcare at Rs 1,660 cr valuation

Move to help Max establish foothold in North India region

Crisis-hit Jaiprakash Associates defaults on Rs 3,961-crore loans on May 31

Crisis-hit Jaypee Group's flagship firm Jaiprakash Associates has defaulted on loans worth Rs 3,961 crore, including principal and interest amount. In a regulatory filing, Jaiprakash Associates Ltd (JAL) informed that the company on May 31 defaulted on repayments of a principal amount of Rs 1,600 crore and interest of Rs 2,361 crore. The loans pertained to various banks, and the nature of the obligation is fund-based working capital, non-fund-based working capital, term loans and FCCB (foreign currency convertible bonds). "The total borrowing (including interest) of the company is Rs 29,429 crore, repayable by 2037, against which only Rs 3,961 crore is overdue as on May 31, 2023," JAL said. Out of the total borrowing of Rs 29,429 crore, the company said that Rs 18,231 crore will get further reduced on transfer to the proposed Special Purpose Vehicle (SPV) for which the scheme of arrangement duly approved by all the stakeholders, is pending sanction of National Company Law Tribunal

Jaiprakash Associates defaults on $508 mn loan repayment due on Mar 31

The flagship company of the infrastructure-focused Jaypee Group has borrowings of Rs 29,396 crore, which are due for repayment by 2037, it said

Dalmia-Jaypee deal: Battle for third spot in cement market intensifies

Shree Cement adding 9 mtpa of capacity in the next 15 months, HM Bangur says; total cement production capacity of company to jump to 56.4 mtpa...

Dalmia Bharat to acquire cement assets of Jaypee Group at Rs 5,666 crore

Dalmia Bharat Ltd on Monday announced the acquisition of the cement assets of Jaypee Group's flagship company Jaiprakash Associates Ltd and its associate firms at an enterprise value of Rs 5,666 crore. In a regulatory filing, Dalmia Bharat informed that its wholly-owned subsidiary Dalmia Cement Bharat Limited (DCBL) has entered into a "binding framework agreement for the acquisition of clinker, cement and power plants from Jaiprakash Associates Limited and its associate company." The deal includes a total cement capacity of 9.4 Million tones (MnT) per annum, along with clinker capacity of 6.7 MnT and thermal power plants of 280MW at an enterprise value of Rs 5,666 crore, it added. "These assets are situated in the states of Madhya Pradesh, Uttar Pradesh and Chhattisgarh," said Dalmia Bharat. The acquisition will help Dalmia to expand its footprint into the central region, it added. Besides, it will also "represent a significant step towards realisation of its vision to emerge as a

Jaiprakash Associates board meet to sell cement units on Monday

Dalmia Cement is a front runner to acquire the company apart from the Adani group and Aditya Birla group were also in the fray

Jaypee Power board meet on Monday over divestment of cement grinding unit

Jaypee group firm Jaypee Power Ventures will hold a board meeting on Monday to consider a proposal to divest its Nigrie cement grinding plant in Madhya Pradesh. In a regulatory filing, Jaypee Power Ventures informed that a board meeting has been convened on Monday to "apprise the board of the recommendations of the Audit Committee to consider the proposal of divestment of Jaypee Nigrie cement Grinding unit." Separately, Jaypee Group flagship firm Jaiprakash Associates informed that a board meeting has been convened on Monday to apprise the board of the recommendations of the audit committee and the progress on the various divestment initiatives. Jaiprakash Associates Ltd (JAL) presently has an aggregate capacity of around 6 million tonnes per annum (MTPA) and Jaiprakash Power Ventures Ltd has around 4 MTPA. In October, Jaiprakash Associates and Jaiprakash Power Ventures had announced plans to divest their cement business as well as some non-core assets to reduce debt. Sources h

Jaypee Infra insolvency: Decks cleared for NARCL to buy first stress asset

Jaypee Infratech deal expected to close by early Nov

Jaypee, Amrapali Groups collapse, leaving buyers in difficult state

Amrapali, Jaypee Group were once the leading names in real estate sector

Govt orders probe against Jaiprakash Associates, Jaypee Infratech

The Jaypee group has already sold many cement and power plants to reduce its debt

YEIDA cancels land allotment to Jaypee group over non-payment of dues

A spokesperson for the Jaypee group said the company would take the matter to court

Jaypee group loses 1,000-hectare land with F1 Circuit over unpaid dues

The embattled business group defaulted on payments of over Rs 500 cr, Yamuna Expressway Authority claims

Will you give revised proposal to complete Jaypee projects: SC asks NBCC

The Bench posted the matter for further hearing on Thursday and extended the status quo order till then

SC orders 2-week status quo on Jaypee's plea on NCLAT's fresh bidding order

On July 30, the NCLAT had allowed fresh bidding for cash-strapped Jaypee Infratech but barred its promoter, Jaypee Group, from participating in the auction

SC to hear Jaypee Group's plea against NCLAT order on bidding Friday

The top court said it will hear a plea of homebuyers along with the statutory appeal of Jaypee Group against the July 30 order of National Company Law Appellate Tribunal