Nclt Notice To Jaiprakash Associates
NCLAT tells NCLT to decide on Jaiprakash Power, Jaypee Fertilisers EOI stay
The insolvency appellate tribunal has directed the NCLT to promptly decide on the stay of the process of inviting Expression of Interest (EOI) regarding two Jaiprakash Associates group's investments in Jaiprakash Power Venture and Jaypee Fertilisers & Industry. In an order on April 29, 2025, the Allahabad bench of the National Company Law Tribunal stayed the process of inviting EoI by the Resolution Professional of debt-ridden Jaiprakash Associates Ltd (JAL), which is currently going through the Corporate Insolvency Resolution Process (CIRP). This order was immediately challenged by the National Asset Reconstruction Company Ltd (NARCL), which is the assignee of 85 per cent of debts of the banks to JAL and the Resolution Professional (RP), before the National Company Law Appellate Tribunal. However, a three-member bench of the NCLAT, led by Chairperson Justice Ashok Bhushan, observed that the matter is already scheduled for hearing before the Allahabad bench on May 26, 2025, hence
 "NCLAT tells NCLT to decide on Jaiprakash Power, Jaypee Fertilisers EOI stay")
Lenders in talks to sell debt-laden Jaiprakash Associates loans to NARCL
Delay of over 5 years in debt resolution via IBC prompts the move
 "Lenders in talks to sell debt-laden Jaiprakash Associates loans to NARCL")
NCLT notice to Jaiprakash Associates over ICICI Bank claim of Rs 12 bn dues
New Delhi, 10 SeptemberThe Allahabad bench of the National Company Law Tribunal (NCLT) has issued a notice to Jaiprakash Associates (JAL) in an insolvency case initiated by ICICI Bank. The bank's ptition says it is owed Rs 12 billion. The case was filed after the Supreme Court (SC) allowed insolvency proceedings against JAL. The apex court had also directed the transfer of Rs 7.5 bn that was deposited by JAL to the NCLT.ICICI has recommended Price Waterhouse's Raj Ralhan as the interim Resolution Professional for the case. The SC had also sent back a case involving JAL's real estate arm, Jaypee Infratech, to the NCLT for resolution. Anuj Jain is the insolvency professional for this case, where the company got a lifeline after completion of its moratorium period of 270 days. ICICI's case was argued by Cyril Amarchand Mangaldas' Biswajit Dubey.JAL, flagship company of the crisis-hit Jaypee group, is into construction, cement, real estate, hospitality and power businesses. It is in ...
 "NCLT notice to Jaiprakash Associates over ICICI Bank claim of Rs 12 bn dues")
