<p>New Delhi: Billionaire Gautam Adani's group, mining mogul Anil Agarwal's Vedanta, and yoga guru Baba Ramdev's Patanjali Ayurveda are among the 26 suitors looking to acquire Jaiprakash Associates.</p>.<p>Others who showed interest in acquiring Jaiprakash Associates Ltd (JAL), currently under insolvency proceedings initiated to recover defaulted loans, include Ahmedabad-based Torrent Group, Jindal Power, Dalmia Cement, GRM Business, Oberoi Realty and Kotak Alternate Asset Managers Ltd, according to a filing by the company to stock exchanges.</p>.<p>In the filing, JAL, which has business interests spanning real estate, cement manufacturing, hospitality, and engineering & construction, issued the provisional list of eligible Prospective Resolution Applicants (PRAs) under Regulation 36A (10) of Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations 2016.</p>.Jaiprakash Associates defaults on Rs 4,616 cr loans.<p>JAL was admitted into the Corporate Insolvency Resolution Process (CIRP) through the National Company Law Tribunal, Allahabad Bench, order dated June 3, 2024.</p>.<p>The company was taken to insolvency proceedings after the conglomerate defaulted on payment of loans.</p>.<p>Creditors claim a total of a staggering Rs 57,185 crore. The National Asset Reconstruction Company Ltd (NARCL) leads the list of claimants after acquiring the stressed JAL loans from a consortium of lenders headed by the State Bank of India (SBI).</p>.<p>Those who put in an expression of interest (EoI) include Adani group's flagship firm Adani Enterprises Ltd, Dalmia Cement (Bharat) Ltd, GMR Business & Consultancy LLP, Jaypee Infratech, Jindal India Power Ltd, Jindal Power Ltd, Kotak Alternate Asset Managers Ltd. Oberoi Realty Ltd, Patanjali Ayurveda Ltd, Torrent Power and Vedanta Ltd.</p>.<p>Asset Reconstruction Company (India) Ltd, Authum Investment & Infrastructure Ltd, consortium of Winro Commercial (India) Ltd and Parakh Advisors Private Ltd, Dickey Asset Management Pvt Ltd, India Opportunities XII Investments Pte Ltd, J C Flowers Asset Reconstruction Pvt Ltd, Jaithari Thermal Power, Oriental Structural Engineers, Paschim Sagar Properties, PNC Infratech, Rashmi Metaliks, Sherisha Technologies, Sigma Corporation and Winchain Infrastructures were the other bidders.</p>.<p>JAL has major real estate projects like Jaypee Greens in Greater Noida, a part of Jaypee Greens Wishtown in Noida (both on the outskirts of the national capital), and the Jaypee International Sports City, strategically located near the upcoming Jewar International Airport.</p>.<p>It also has three commercial/industrial office spaces in Delhi NCR, while its hotel division has five properties in Delhi NCR, Mussoorie, and Agra.</p>.<p>JAL has four cement plants in Madhya Pradesh and Uttar Pradesh, and a few leased limestone mines located in Madhya Pradesh. The cement plants, however, are presently non-operational.</p>.<p>It also has investments in subsidiaries, including Jaiprakash Power Ventures Ltd, Yamuna Expressway Tolling Ltd, Jaypee Infrastructure Development Ltd and several other companies.</p>.<p>According to JAL, the total outstanding loans to financial institutions stood at Rs 55,409.28 crores as of March 11, 2025.</p>.<p>Jaypee Group's Jaypee Infratech has already been acquired by Mumbai-based Suraksha Group through an insolvency process.</p>.<p>Suraksha Group has to complete various stalled projects comprising around 20,000 apartments in Noida and Greater Noida. PTI MJH ANZ BAL BAL</p>
<p>New Delhi: Billionaire Gautam Adani's group, mining mogul Anil Agarwal's Vedanta, and yoga guru Baba Ramdev's Patanjali Ayurveda are among the 26 suitors looking to acquire Jaiprakash Associates.</p>.<p>Others who showed interest in acquiring Jaiprakash Associates Ltd (JAL), currently under insolvency proceedings initiated to recover defaulted loans, include Ahmedabad-based Torrent Group, Jindal Power, Dalmia Cement, GRM Business, Oberoi Realty and Kotak Alternate Asset Managers Ltd, according to a filing by the company to stock exchanges.</p>.<p>In the filing, JAL, which has business interests spanning real estate, cement manufacturing, hospitality, and engineering & construction, issued the provisional list of eligible Prospective Resolution Applicants (PRAs) under Regulation 36A (10) of Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations 2016.</p>.Jaiprakash Associates defaults on Rs 4,616 cr loans.<p>JAL was admitted into the Corporate Insolvency Resolution Process (CIRP) through the National Company Law Tribunal, Allahabad Bench, order dated June 3, 2024.</p>.<p>The company was taken to insolvency proceedings after the conglomerate defaulted on payment of loans.</p>.<p>Creditors claim a total of a staggering Rs 57,185 crore. The National Asset Reconstruction Company Ltd (NARCL) leads the list of claimants after acquiring the stressed JAL loans from a consortium of lenders headed by the State Bank of India (SBI).</p>.<p>Those who put in an expression of interest (EoI) include Adani group's flagship firm Adani Enterprises Ltd, Dalmia Cement (Bharat) Ltd, GMR Business & Consultancy LLP, Jaypee Infratech, Jindal India Power Ltd, Jindal Power Ltd, Kotak Alternate Asset Managers Ltd. Oberoi Realty Ltd, Patanjali Ayurveda Ltd, Torrent Power and Vedanta Ltd.</p>.<p>Asset Reconstruction Company (India) Ltd, Authum Investment & Infrastructure Ltd, consortium of Winro Commercial (India) Ltd and Parakh Advisors Private Ltd, Dickey Asset Management Pvt Ltd, India Opportunities XII Investments Pte Ltd, J C Flowers Asset Reconstruction Pvt Ltd, Jaithari Thermal Power, Oriental Structural Engineers, Paschim Sagar Properties, PNC Infratech, Rashmi Metaliks, Sherisha Technologies, Sigma Corporation and Winchain Infrastructures were the other bidders.</p>.<p>JAL has major real estate projects like Jaypee Greens in Greater Noida, a part of Jaypee Greens Wishtown in Noida (both on the outskirts of the national capital), and the Jaypee International Sports City, strategically located near the upcoming Jewar International Airport.</p>.<p>It also has three commercial/industrial office spaces in Delhi NCR, while its hotel division has five properties in Delhi NCR, Mussoorie, and Agra.</p>.<p>JAL has four cement plants in Madhya Pradesh and Uttar Pradesh, and a few leased limestone mines located in Madhya Pradesh. The cement plants, however, are presently non-operational.</p>.<p>It also has investments in subsidiaries, including Jaiprakash Power Ventures Ltd, Yamuna Expressway Tolling Ltd, Jaypee Infrastructure Development Ltd and several other companies.</p>.<p>According to JAL, the total outstanding loans to financial institutions stood at Rs 55,409.28 crores as of March 11, 2025.</p>.<p>Jaypee Group's Jaypee Infratech has already been acquired by Mumbai-based Suraksha Group through an insolvency process.</p>.<p>Suraksha Group has to complete various stalled projects comprising around 20,000 apartments in Noida and Greater Noida. PTI MJH ANZ BAL BAL</p>