Adani Group, Vedanta, and Dalmia Bharat Cement have submitted resolution plans to acquire Jaiprakash Associates Ltd (JAL), which is currently undergoing insolvency. The debt-ridden conglomerate has attracted several bidders keen to acquire its valuable assets across real estate, cement, and construction sectors.
Jaiprakash Associates Ltd entered the Corporate Insolvency Resolution Process on June 3, 2024. The move followed loan payment defaults totalling claims of over ₹57,185 crore by creditors. The National Company Law Tribunal (NCLT) in Allahabad is handling the case. National Asset Reconstruction Company Ltd (NARCL), having taken over JAL loans from an SBI-led lender consortium, leads the list of claimants.
According to reports, Multiple companies, including Adani Enterprises (a unit of Adani Group), Vedanta, and Dalmia Bharat Cement, have submitted their resolution plans before the June 24, 2025 deadline. Jaypee Infratech, which is now controlled by the Suraksha Group, has also joined the bidding process. In contrast, Patanjali Ayurved, despite initial interest, did not submit a plan.
As many as 25 entities had shown initial interest in April 2025. Other potential participants included Torrent Power, GMR Business & Consultancy LLP, Jindal India Power, and Kotak Alternate Asset Managers. Several asset management and infrastructure firms also expressed intent, reflecting the strategic value of JAL’s diversified portfolio.
JAL operates in sectors such as real estate, hospitality, engineering, and cement. Symbolic assets include Jaypee Greens in Greater Noida, Wishtown in Noida, and Jaypee International Sports City near the upcoming Jewar Airport. The company also owns five hotels in Delhi-NCR, Mussoorie, and Agra, and commercial spaces in Delhi-NCR.
In the cement sector, JAL owns four non-operational plants in Uttar Pradesh and Madhya Pradesh, along with leased limestone mines. JAL also has holdings in several subsidiaries, including Jaiprakash Power Ventures Ltd, Yamuna Expressway Tolling Ltd, and Jaypee Infrastructure Development.
The extension granted to bidders until June 24, 2025, allowed several players to finalise and submit their plans. The resolution process, when completed, is expected to determine the future ownership and management of JAL’s diverse businesses, paving the way for asset revival and debt recovery.
Read More: Jaiprakash Associates Resolution Plan Deadline Nears; CoC to Meet on June 25!
With Adani Group, Vedanta, and Dalmia Bharat Cement among key bidders, the insolvency proceedings of Jaiprakash Associates have garnered substantial industry attention. The ongoing process may reshape the fate of JAL’s stalled projects and unlock the value of its dormant assets.
Disclaimer: This blog has been written exclusively for educational purposes. The securities or companies mentioned are only examples and not recommendations. This does not constitute a personal recommendation or investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
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Published on: Jun 25, 2025, 1:07 PM IST
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