Adani Group highest bidder for Jaiprakash Associates; leads race to acquire JAL: Report
Billionaire Gautam Adani-led
Adani Group
has reportedly emerged as the highest bidder in the race to acquire Jaiprakash Associates. The list of potential buyers who submitted bids included Adani Group, Vedanta, JSPL (Naveen Jindal), Suraksha Group, Dalmia Bharat, and PNC Infratech.
Jaiprakash Associates Ltd (JAL), a financially stressed infrastructure and real estate firm which is undergoing insolvency proceedings, received six resolution proposals. The Adani Group's bid stands at Rs 12,500 crore, according to sources quoted in a Business Standard report.
The acquisition proposals, which were submitted on Tuesday June 24, aim to take over the entire company. The case has garnered significant attention in the insolvency sector, with total claims amounting to Rs 57,185 crore.
JAL has prestigious properties including Jaypee Greens in Greater Noida, sections of Wishtown in Noida, and the Jaypee International Sports City, situated advantageously near the upcoming Jewar International Airport.
Their property portfolio extends to hospitality establishments across Delhi-NCR, Agra, and Mussoorie, alongside three commercial properties and four inactive cement manufacturing facilities in Uttar Pradesh and Madhya Pradesh.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Why seniors are rushing to get this Internet box – here's why!
Techno Mag
Learn More
Undo
The National Asset Reconstruction Company Ltd. (NARCL), having acquired JAL's debt of Rs 12,000 crore in March from 90% of creditors including State Bank of India, stands as the primary claimant. The creditor list encompasses Asset Care & Reconstruction Enterprise (ACRE), Arcil, foreign commercial lenders of SBI and Bank of Baroda, along with numerous homebuyers.
Whilst approximately twenty potential investors, including Kotak Alternate Asset Managers and Oberoi Realty, showed initial interest, they ultimately chose not to submit final bids, according to an ET report.
Stay informed with the latest
business
news, updates on
bank holidays
and
public holidays
.
AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
23 minutes ago
- Time of India
Aquarius Daily Horoscope Today, July 05, 2025: What flows easy deserves your attention
Today brings you a fresh flow of energy. Instead of forcing things, notice what moves easily. The stars suggest that where ease exists, purpose may be hiding. Don't ignore what feels natural or joyful—these are clues to your next right step. You don't have to chase success or relationships. Let yourself notice what is already flowing without resistance. Trust that alignment doesn't always come with effort. Sometimes, the softest path leads to the most powerful outcomes. Aquarius Love Horoscope Today In love, notice which conversations feel light and which ones feel forced. If you're in a relationship, lean into the parts that feel effortless—shared laughter, silent understanding, simple joy. You don't need grand gestures every day. If single, pay attention to who makes you feel safe and free, not just excited. The love that flows without confusion or drama is often the one meant for you. Follow the feeling that feels like coming home, not the one that keeps you guessing. Aquarius Career Horoscope Today At work, instead of pushing yourself to chase results, observe where your energy flows naturally. What task do you enjoy without struggle? Where do your talents shine without trying hard? That's where your growth lives. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 이게 2025년 최고의 게임이 될 수 있을까요? 직접 확인해 보세요 Raid: Shadow Legends 더 알아보기 Today, follow curiosity over pressure. If something feels blocked, it may not be meant for now. Focus on projects that energise you. The universe is guiding you toward ease—not laziness, but alignment. When your effort matches your joy, success follows faster. Aquarius Money Horoscope Today Financially, today is about simplicity. The flow of money is often tied to the flow of trust. If you've been trying too hard to hold on, pause and review. Look at what spending brings peace and what creates stress. Easy, thoughtful habits—like automatic savings or choosing quality over quantity—will support you more now. Avoid risky decisions. Your intuition knows what's right. Follow the financial plan that feels stable, not flashy. A quiet, steady approach will bring prosperity in time. Aquarius Health Horoscope Today Your health benefits most today from listening to ease. If your body enjoys walking, take a walk. If your mind relaxes with music, play your favourite tune. Avoid extreme routines. Choose what feels sustainable and gentle. Your energy will guide you when you slow down enough to hear it. Don't punish your body with rigid plans. Instead, nourish it with rest, water, and light movement. Let your wellness come not from effort but from care. Flow brings healing. Discover everything about astrology at the Times of India , including daily horoscopes for Aries , Taurus , Gemini , Cancer , Leo , Virgo , Libra , Scorpio , Sagittarius , Capricorn , Aquarius , and Pisces .
Economic Times
25 minutes ago
- Economic Times
Ban-battered bike-taxi riders say struggling to make both ends meet
TIL Creatives The bike-taxi ban in Karnataka has battered thousands of gig workers, as a major part of their income has disappeared. About 150,000 bike-taxi riders were estimated to be operating in Bengaluru alone before the high court-imposed ban came into effect June 16. Since then, their income has come down by half, said at least a dozen such gig workers ET spoke with. These workers on bikes typically operate across segments such as bike taxi, parcel services, food delivery and quick commerce. Since they can't carry fare-paying passengers, many of them have switched fully to delivering parcels, food and groceries, causing a glut of riders in the market and affecting the income for gig workers from these sources as well. 'I used to earn Rs 800–900 daily, but now I earn only Rs 400–500. This barely covers my bike's EMI,' said Mohammed Miraj, who has worked as a bike taxi rider in Bengaluru for the past three years. The 24-year-old rode with Uber, Rapido and other platforms to make a the ban, ride-hailing platforms Rapido and Uber renamed their bike service 'bike parcel' and 'moto courier'. This allowed gig workers like Miraj to work as couriers. He now delivers parcels for Uber, Rapido and platforms such as Borzo and Porter. 'But unlike bike taxis, parcel orders are infrequent, and the drivers must travel 10-15 km with no return rides,' he taxi operations account for 40% of India's ride-hailing volumes with Bengaluru having a 15–20% share, industry executives gig economy employed 7.7 million workers in 2020-21, according to a 2022 Niti Aayog report. The gig economy offers flexible jobs through platforms such as ride-hailing, food delivery and courier services. Flexibility factor For Mohammed Salim, a 41-year-old part-time graphic designer, the bike-taxi ban meant losing more than just used to begin his day at 7 am and work till noon, dropping officegoers in the city. He did the same in the evening between 4 pm and 8 pm, taking employees home. When not ferrying people, he would work on graphic designs at home.'The bike taxi not only gave me an opportunity to earn, it also allowed me to follow my passion in graphic design. No other job gives you that opportunity (and flexibility),' he said. 'At this age, who gives a job to a 41-year-old? This ban has completely left me without an income.' Ripple effect With bike-taxi riders moving to other platforms, the earnings of gig workers who primarily focus services such as food and grocery delivery have also taken a hit. Varun (name changed to protect identity), who hails from Bihar and works full time for Zomato in Bengaluru, said his earnings shrank from Rs 11,711 a week before the ban to Rs 5,749. 'Some days I used to earn more than Rs 2,000, but after the ban it has never happened,' he said. 'Riders have increased, which made me lose many orders. Despite me getting the notification (for an order), someone else would go pick it up.' A full-timer at Swiggy said, also on the condition of anonymity, that he used to earn far more money before the ban. Between June 2 and June 8, he worked 46 hours, earning Rs 8,743. This went down to Rs 7,334 after working 56 hours in the week after the ban, his app showed. Miraj, the bike-taxi rider who is now working as a courier, said the loss of earnings and rising costs have forced him to make difficult now earns Rs 400–500 a day. From that, he saves Rs 5,000 every month to pay his bike's EMI of Rs 5,000.'I used to give my mother Rs 500 (every day) from my savings, but today after the ban I hardly even get that much myself,' he said. 'I hope the bike taxi ban is revoked. Let them bring rules — we are ready to follow. It's not just for us; many office-going people used to take our services daily.'In its order in early April, the Karnataka high court said bike taxis could not operate without proper regulations under the Motor Vehicles emails and calls to aggregator companies including Rapido, Ola, Uber, Zomato and Swiggy did not elicit any response. Other job options DriveU, which provides professional car drivers, saw its headcount swell immediately after the ban on bike taxis came into the following fortnight, around 1,200 drivers joined its ranks against 181 in the same period of the previous month, chief executive Rahm Shastry told ET.'We've seen a substantial increase in drivers looking for new opportunities after the bike taxi ban,' said Shastry. 'As more drivers join the platform, our fulfilment rate has also gone up, ensuring better service for our customers.'Earlier, it could only be able to fulfil 65% of the demand due to a shortage of drivers, but now it does 80%, said Shastry. 'We have also raised earnings from Rs 525 to Rs 575 per trip for the driver partners,' he added. Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. How Balrampur Chini, EID Parry are stirring up gains amid melting sugar stocks Are Sebi's MII evaluations driving real change or just more paperwork? Delhivery survived the Meesho curveball. Can it keep on delivering profits? Drones have become a winning strategy in war; can they be in investing? Stock Radar: Trent stock showing signs of bottoming out; stock still down over 25% from highs – what should investors do? Buy, Sell or Hold: Motilal Oswal initiates coverage on Inox Wind; Gabriel top pick for Elara Securities One simple reason to own & trade them: 5 large-caps from different sectors with upside potential of up to 46% Weekly Top Picks: These stocks scored 10 on 10 on Stock Reports Plus
Time of India
27 minutes ago
- Time of India
Ban-battered bike-taxi riders say struggling to make both ends meet
The bike-taxi ban in Karnataka has battered thousands of gig workers, as a major part of their income has 150,000 bike-taxi riders were estimated to be operating in Bengaluru alone before the high court-imposed ban came into effect June 16 . Since then, their income has come down by half, said at least a dozen such gig workers ET spoke workers on bikes typically operate across segments such as bike taxi, parcel services, food delivery and quick commerce. Since they can't carry fare-paying passengers, many of them have switched fully to delivering parcels, food and groceries, causing a glut of riders in the market and affecting the income for gig workers from these sources as well.'I used to earn Rs 800–900 daily, but now I earn only Rs 400–500. This barely covers my bike's EMI,' said Mohammed Miraj, who has worked as a bike taxi rider in Bengaluru for the past three years. The 24-year-old rode with Uber, Rapido and other platforms to make a the ban, ride-hailing platforms Rapido and Uber renamed their bike service 'bike parcel' and 'moto courier'. This allowed gig workers like Miraj to work as couriers. He now delivers parcels for Uber, Rapido and platforms such as Borzo and Porter. 'But unlike bike taxis, parcel orders are infrequent, and the drivers must travel 10-15 km with no return rides,' he taxi operations account for 40% of India's ride-hailing volumes with Bengaluru having a 15–20% share, industry executives gig economy employed 7.7 million workers in 2020-21, according to a 2022 Niti Aayog report. The gig economy offers flexible jobs through platforms such as ride-hailing, food delivery and courier Mohammed Salim, a 41-year-old part-time graphic designer, the bike-taxi ban meant losing more than just used to begin his day at 7 am and work till noon, dropping officegoers in the city. He did the same in the evening between 4 pm and 8 pm, taking employees home. When not ferrying people, he would work on graphic designs at home.'The bike taxi not only gave me an opportunity to earn, it also allowed me to follow my passion in graphic design. No other job gives you that opportunity (and flexibility),' he said. 'At this age, who gives a job to a 41-year-old? This ban has completely left me without an income.'With bike-taxi riders moving to other platforms, the earnings of gig workers who primarily focus services such as food and grocery delivery have also taken a (name changed to protect identity), who hails from Bihar and works full time for Zomato in Bengaluru, said his earnings shrank from Rs 11,711 a week before the ban to Rs 5,749. 'Some days I used to earn more than Rs 2,000, but after the ban it has never happened,' he said. 'Riders have increased, which made me lose many orders. Despite me getting the notification (for an order), someone else would go pick it up.'A full-timer at Swiggy said, also on the condition of anonymity, that he used to earn far more money before the ban. Between June 2 and June 8, he worked 46 hours, earning Rs 8,743. This went down to Rs 7,334 after working 56 hours in the week after the ban, his app the bike-taxi rider who is now working as a courier, said the loss of earnings and rising costs have forced him to make difficult now earns Rs 400–500 a day. From that, he saves Rs 5,000 every month to pay his bike's EMI of Rs 5,000.'I used to give my mother Rs 500 (every day) from my savings, but today after the ban I hardly even get that much myself,' he said. 'I hope the bike taxi ban is revoked. Let them bring rules — we are ready to follow. It's not just for us; many office-going people used to take our services daily.'In its order in early April, the Karnataka high court said bike taxis could not operate without proper regulations under the Motor Vehicles emails and calls to aggregator companies including Rapido, Ola, Uber, Zomato and Swiggy did not elicit any which provides professional car drivers, saw its headcount swell immediately after the ban on bike taxis came into the following fortnight, around 1,200 drivers joined its ranks against 181 in the same period of the previous month, chief executive Rahm Shastry told ET.'We've seen a substantial increase in drivers looking for new opportunities after the bike taxi ban,' said Shastry. 'As more drivers join the platform, our fulfilment rate has also gone up, ensuring better service for our customers.'Earlier, it could only be able to fulfil 65% of the demand due to a shortage of drivers, but now it does 80%, said Shastry. 'We have also raised earnings from Rs 525 to Rs 575 per trip for the driver partners,' he added.
