Jaiprakash Associates’ CoC to Meet Today, July 1; Likely to Evaluate Insolvency Bids

Lenders of Jaiprakash Associates Ltd (JAL), currently undergoing insolvency proceedings, are set to meet on July 1 to deliberate on resolution plans submitted by interested bidders. The company informed the exchanges on Monday that the 16th meeting of its Committee of Creditors (CoC) is scheduled for July 1, 2025.

CoC Expected to Review Resolution Bids

While JAL’s regulatory filing did not detail the meeting's agenda, media reports suggest that the CoC will review resolution plans submitted by several corporate bidders, alongside other matters.

The proposals come in the wake of last week’s deadline for submission of resolution bids, which required earnest money deposits from interested acquirers. The identities of the bidders have not been disclosed yet.

Back in April, the insolvency process had attracted expressions of interest from as many as 25 companies, reflecting substantial market interest in acquiring the diverse assets of JAL.

Understanding Jaiprakash Associates’ Insolvency Proceedings

Jaiprakash Associates, a diversified player with interests across real estate, cement, hospitality, and infrastructure, was admitted into the Corporate Insolvency Resolution Process (CIRP) following a default on loan repayments. The National Company Law Tribunal (NCLT), Allahabad Bench, admitted the case under CIRP via an order dated June 3, 2024.

The company owes a massive ₹57,185 crore to creditors. The National Asset Reconstruction Company Ltd (NARCL) has emerged as the principal claimant, having taken over the stressed debt from a consortium led by the State Bank of India (SBI).

Read More: What Led to Jaiprakash Associates Insolvency Proceedings?

What’s at Stake? Key Assets of JAL

JAL's diverse portfolio of assets adds strategic value for potential buyers. Notable among its real estate holdings are:

• Jaypee Greens, Greater Noida
• Jaypee Greens Wishtown, Noida
• Jaypee International Sports City, located near the upcoming Jewar International Airport

The company also owns three commercial and industrial properties in Delhi-NCR. Its hospitality division operates five hotel properties across Delhi-NCR, Mussoorie, and Agra all prime locations with potential for revival under new ownership.

Read More: Jaiprakash Associates Gets 5 Resolution Plans in Insolvency Case — Adani, Vedanta, JSPL in the Race?

Conclusion

The July 1 meeting of JAL’s CoC is a critical step in determining the future of one of India’s most high-profile insolvency cases. As resolution plans come under review, lenders will weigh their options amid a backdrop of significant financial exposure and asset-rich opportunities.

The outcome of this meeting could pave the way for a potential turnaround for JAL or, alternatively, set the stage for further proceedings under the IBC framework.

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