26 Firms Eye JP Associates
Real Estate

26 Firms Eye JP Associates

A total of 26 companies, including major players like Adani Group, Vedanta, and Patanjali Ayurved, have submitted expressions of interest (EoIs) to acquire Jaiprakash Associates Ltd (JAL), which is undergoing corporate insolvency resolution process (CIRP) under the Insolvency and Bankruptcy Code (IBC).

The National Company Law Tribunal (NCLT) had admitted JAL into insolvency in March 2024 after multiple loan defaults and pending liabilities. The company, which operates across cement, real estate, and infrastructure sectors, owes over Rs 290 billion to its creditors.

According to the invitation for resolution plans, the last date for submission is April 17. Other notable bidders include NBCC, Haldiram Snacks, JK Lakshmi Cement, and Shree Cement. The wide interest underscores the value in JAL’s diversified asset base, especially in real estate projects and cement capacity.

The final list of eligible resolution applicants will be announced soon, followed by detailed due diligence. The outcome will be crucial in determining the future of one of India’s once-prominent infrastructure firms and will test the efficacy of India’s insolvency resolution framework in handling large, complex cases.   

A total of 26 companies, including major players like Adani Group, Vedanta, and Patanjali Ayurved, have submitted expressions of interest (EoIs) to acquire Jaiprakash Associates Ltd (JAL), which is undergoing corporate insolvency resolution process (CIRP) under the Insolvency and Bankruptcy Code (IBC).The National Company Law Tribunal (NCLT) had admitted JAL into insolvency in March 2024 after multiple loan defaults and pending liabilities. The company, which operates across cement, real estate, and infrastructure sectors, owes over Rs 290 billion to its creditors.According to the invitation for resolution plans, the last date for submission is April 17. Other notable bidders include NBCC, Haldiram Snacks, JK Lakshmi Cement, and Shree Cement. The wide interest underscores the value in JAL’s diversified asset base, especially in real estate projects and cement capacity.The final list of eligible resolution applicants will be announced soon, followed by detailed due diligence. The outcome will be crucial in determining the future of one of India’s once-prominent infrastructure firms and will test the efficacy of India’s insolvency resolution framework in handling large, complex cases.   

Next Story
Infrastructure Urban

DDA Approves Rs 87.2 Billion Budget for 2025-26

The Delhi Development Authority (DDA) has approved a budget of Rs 87.2 billion for the financial year 2025-26, with a strong emphasis on civic infrastructure development, green space rejuvenation, housing, and sports facilities, according to an official statement. Chaired by Lieutenant Governor V.K. Saxena, the budget meeting highlighted several large-scale projects, including the revitalisation of the Yamuna floodplain, creation of expansive parks, and upgraded civic amenities. Out of the total outlay, Rs 41.4 billion has been earmarked for capital expenditure, covering new roads, infrastruc..

Next Story
Infrastructure Energy

Vi Taps Cisco to Power Next-Gen Network

Telecom operator Vodafone Idea (Vi) has joined hands with US-based tech major Cisco Systems to revamp its transport network infrastructure across India. The strategic partnership aims to enhance network performance, scalability, and user experience for both retail and enterprise customers. As part of the agreement, Vi will deploy Cisco’s advanced Multiprotocol Label Switching (MPLS) technology to create a high-capacity, software-driven transport network. This will significantly improve the telecom player’s ability to manage surging data traffic and support data-heavy digital services such..

Next Story
Building Material

GPT Infra Commissions New Steel Girder Plant Near Kolkata

GPT Infraprojects announced the successful commissioning of its steel girder and components manufacturing facility in West Bengal on April 24, 2025. Located in Village Majinan, Hooghly district—about 60 km from Kolkata—the plant begins operations with an initial capacity of 10,000 metric tonnes per annum (MTPA). The company stated that the facility is in the process of securing RDSO (Research Designs and Standards Organisation) approval for manufacturing steel bridge girders. Once approved, this unit is expected to become a key asset for the company’s steel bridge segment, catering to c..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?