Latest news with #JIL
Business Standard
18-07-2025
- Business
- Business Standard
Jagatjit Inds rises on launch of commercial grain-based ethanol production in Punjab
Jagatjit Industries jumped 4.73% to Rs 205.85 after the company announced the commencement of commercial production of ethanol from grain at its newly commissioned 200 KLPD grain-based ethanol distillery plant. According to an exchange filing, the facility is located at the companys unit in Jagatjit Nagar, Village Hamira, Kapurthala district, Punjab. Jagatjit Industries (JIL) is a prominent player in the premium drinks segment. The company operates one of the largest integrated distilleries for manufacturing potable alcohol in Asia. In India, it was the first to establish in-house capabilities for producing both molasses and non-molasses-based potable alcohol using fully automated distillation plants. The company manufactures and markets a diverse portfolio of products, including alcoholic beverages, malt, malt extract, nutritious planned foods, milk powder, ghee, and other dairy products. The company also produces malted milk foods as part of its product range. The company reported a consolidated net loss of Rs 6.82 crore in Q4 FY25 as against a net profit of Rs 1.96 crore recorded in Q4 FY24. Revenue from operations fell 11.4% YoY to Rs 115.35 crore posted in Q4 FY25.
Business Standard
10-07-2025
- Business
- Business Standard
Jagatjit Industries CEO & CFO Anil Vanjani resigns
Jagatjit Industries announced that Anil Vanjani, the chief executive officer and chief financial officer (CFO) of the company, has resigned from his positions with immediate effect. According to a regulatory filing, Vanjani tendered his resignation via email on 9 July 2025. The company's management has accepted the resignation, and he has ceased to serve as CEO and CFO, both roles designated as key managerial personnel (KMP), effective immediately. Jagatjit Industries (JIL) is a prominent player in the premium drinks segment. The company operates one of the largest integrated distilleries for manufacturing potable alcohol in Asia. In India, it was the first to establish in-house capabilities for producing both molasses and non-molasses-based potable alcohol using fully automated distillation plants. The company manufactures and markets a diverse portfolio of products, including alcoholic beverages, malt, malt extract, nutritious planned foods, milk powder, ghee, and other dairy products. The company also produces malted milk foods as part of its product range. The company reported a consolidated net loss of Rs 6.82 crore in Q4 FY25 as against a net profit of Rs 1.96 crore recorded in Q4 FY24. Revenue from operations fell 11.4% YoY to Rs 115.35 crore posted in Q4 FY25. The scrip jumped 7.91% to Rs 174 on the BSE.
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Business Standard
09-06-2025
- Business
- Business Standard
CoC extends Jaiprakash Associates resolution plan deadline to 24 June
The Committee of Creditors (CoC) for Jaiprakash Associates (JAL) has approved an extension for the submission of resolution plans, pushing the deadline to 24 June 2025. The decision was made in response to multiple requests from prospective resolution applicants (PRAs), the company said in a regulatory filing. Previously, under the Invitation for Expression of Interest (IEOI), JAL had set 9 June 2025 as the deadline for PRAs to submit their resolution plans. 'Upon requests received from several PRAs for extension of the current deadline of 9 June 2025 for submission of resolution plans, the members of the Committee of Creditors of the Corporate Debtor have approved with the requisite majority the extension of time for submission of Resolution Plans till 24 June 2025,' the company said. Insolvency proceedings and bidders JAL, the flagship company of the Jaypee Group, was admitted into the Corporate Insolvency Resolution Process (CIRP) by the National Company Law Tribunal (NCLT), Allahabad Bench, on 3 June 2024 after defaulting on loan repayments. A total of 25 companies have expressed interest in acquiring JAL. The list of prospective resolution applicants includes prominent names such as Adani Enterprises, Vedanta, and Patanjali Ayurveda. Other applicants include Dalmia Cement (Bharat) Ltd, Torrent Power Ltd, GMR Business & Consultancy LLP, Jaypee Infratech, Jindal Power Ltd, Jindal India Power, Kotak Alternate Asset Managers Ltd, Oberoi Realty, and PNC Infratech. Additional bidders are Authum Investment & Infrastructure; Consortium of Winro Commercial (India) and Parakh Advisors; Dickey Asset Management; India Opportunities XII Investments; J C Flowers Asset Reconstruction; Jaithari Thermal Power; Jakson Ltd; Oriental Structural Engineers; Paschim Sagar Properties; Rashmi Metaliks; Sherisha Technologies; Sigma Corporation (India) Ltd; and Winchain Infrastructures. Jaypee insolvency timeline Founded in 1979 by Jaiprakash Gaur, Jaiprakash Associates Limited operates across construction, power, real estate, hospitality, and infrastructure. Its subsidiary, Jaypee Infratech Limited (JIL), developed the Yamuna Expressway and was active in real estate in the National Capital Region before entering CIRP in August 2017 due to loan defaults. After prolonged legal proceedings and a monitoring committee's oversight, the Mumbai-based Suraksha Group emerged as the successful resolution applicant. The National Company Law Appellate Tribunal (NCLAT) approved Suraksha's plan on 24 May 2024. In early June 2024, Suraksha took control of JIL, appointed a three-member board, and injected ₹125 crore in equity to revive stalled housing projects. By August 2024, it had invested an additional ₹250 crore and secured a ₹3,000 crore loan to continue work on approximately 20,000 incomplete flats. Suraksha Group's subsidiary now manages JIL under the approved plan, while JAL continues its broader restructuring process.
Time of India
26-05-2025
- Business
- Time of India
ED seizes ₹1.70 crore cash, documents in raids against Jaypee Infratech, others
NEW DELHI: The Enforcement Directorate has said it seized cash of Rs 1.70 crore and documents related to immovable assets during searches conducted against Jaypee Infratech Ltd (JIL), Jaiprakash Associates Ltd (JAL) and other entities in an alleged homebuyers' fraud case linked money laundering investigation. The raids were carried out at 15 premises in Delhi, Noida, Ghaziabad and Mumbai on May 23 under the Prevention of Money Laundering Act (PMLA). "The search covered offices and premises of JAL, its related entities and its promoters directors. "Searches were also conducted at the offices and premises related to key business associates of JAL, including Gaursons India Pvt Ltd, Gulshan Homz Pvt Ltd, and Mahagun Real Estate Pvt Ltd.," the central probe agency said in a statement issued on Sunday. The money laundering case stems from FIRs registered by the Economic Offences Wing (EOW) of Delhi Police and Uttar Pradesh Police against companies like JAL, JIL, and their promoters, directors. The FIRs allege large-scale fraud and criminal conspiracy, including dishonest inducement of homebuyers and investors to invest funds under the pretext of allotment of residential apartments and plots in projects such as Jaypee Wishtown (a project of JIL) and Jaypee Greens (a venture of JAL). Officials had earlier said the alleged fraud was worth Rs 12,000 crore. During the searches, the ED said, financial documents and digital devices along with documents relating to immovable properties held in the names of promoters, their family members and the group companies apart from cash of Rs 1.70 crore were seized. In a stock exchange filing made on Saturday, Jaiprakash Associates said "the Enforcement Directorate (ED) has initiated searches at the offices of the company on 23rd May, 2025." The company continues to operate in normal course of business, it added. "... the Company and its officials are fully co-operating with the authorities and also providing all the relevant information to the authorities sought for during the search process," Jaiprakash Associates said. Jaiprakash Associates, a flagship firm of crisis-hit Jaypee Group, is into cement, construction, power, real estate and hospitality businesses among others. Jaypee Group firm Jaypee Infratech has already been acquired by Mumbai-based Suraksha Group.
Hindustan Times
26-05-2025
- Business
- Hindustan Times
ED seizes ₹1.70 cr cash, documents in raids against Jaypee Infratech Ltd, others
New Delhi, May 26 (PTI) The Enforcement Directorate has said it seized cash of ₹1.70 crore and documents related to immovable assets during searches conducted against Jaypee Infratech Ltd (JIL), Jaiprakash Associates Ltd (JAL) and other entities in an alleged homebuyers' fraud case linked money laundering investigation. The raids were carried out at 15 premises in Delhi, Noida, Ghaziabad and Mumbai on May 23 under the Prevention of Money Laundering Act (PMLA). "The search covered offices and premises of JAL, its related entities and its promoters directors. "Searches were also conducted at the offices and premises related to key business associates of JAL, including Gaursons India Pvt Ltd, Gulshan Homz Pvt Ltd, and Mahagun Real Estate Pvt Ltd.," the central probe agency said in a statement issued on May 25. The money laundering case stems from FIRs registered by the Economic Offences Wing (EOW) of Delhi Police and Uttar Pradesh Police against companies like JAL, JIL, and their promoters, directors. The FIRs allege large-scale fraud and criminal conspiracy, including dishonest inducement of homebuyers and investors to invest funds under the pretext of allotment of residential apartments and plots in projects such as Jaypee Wishtown (a project of JIL) and Jaypee Greens (a venture of JAL). Officials had earlier said the alleged fraud was worth ₹12,000 crore. During the searches, the ED said, financial documents and digital devices along with documents relating to immovable properties held in the names of promoters, their family members and the group companies apart from cash of ₹1.70 crore were seized. In a stock exchange filing made on Saturday, Jaiprakash Associates said "the Enforcement Directorate (ED) has initiated searches at the offices of the company on 23rd May, 2025." The company continues to operate in normal course of business, it added. "... the Company and its officials are fully co-operating with the authorities and also providing all the relevant information to the authorities sought for during the search process," Jaiprakash Associates said. Jaiprakash Associates, a flagship firm of crisis-hit Jaypee Group, is into cement, construction, power, real estate and hospitality businesses among others. Jaypee Group firm Jaypee Infratech has already been acquired by Mumbai-based Suraksha Group.
