Adani, Vedanta, Dalmia Bharat among bidders for Jaiprakash Associates, ET Infra
Over ₹57,000 crore in claims
Advt
CIRP initiated in June
By ,
ETInfra
Several firms, including Adani Group , Vedanta and Dalmia Bharat Cement, have submitted resolution plans to acquire Jaiprakash Associates Ltd (JAL), which is undergoing insolvency proceedings , according to sources.As per PTI reports, Suraksha Group-backed Jaypee Infratech has also submitted a bid, they added. However, Patanjali Ayurved , which had earlier expressed interest, has not submitted a plan.The lenders of JAL are claiming dues of ₹57,185 crore. Earlier this month, the Committee of Creditors extended the deadline for submission of resolution plans to 24 June, following requests from interested bidders In April, 25 companies had submitted expressions of interest in acquiring JAL.JAL was admitted into the Corporate Insolvency Resolution Process (CIRP) by the National Company Law Tribunal, Allahabad Bench, through an order dated 3 June 2024. The proceedings were initiated after the company defaulted on loan repayments.JAL operates across sectors including real estate, cement, hospitality and engineering and construction.
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