26 Firms Eye JP Associates

09 Apr 2025 CW Team

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.

Real Estate

07 Aug 2026

BXB Estates Sets AED 110 Million Jumeirah Golf Estates Record

BXB Estates has completed an AED 110 million residential transaction at Jumeirah Golf Estates, setting a new sales record for the prestigious Dubai residential community.Negotiated by Alfie Tabrez, Managing Partner of BXB Estates, the deal surpassed the previous record of AED 58 million for a completed ready villa in the development.The six-bedroom residence offers 21,714 sq ft of built-up space on a 15,873-sq-ft plot. It features nine bathrooms, four living lounges, a home office, bar lounge, private cinema and rooftop terrace.The property also includes a dedicated wellness area comprising a ..

SECR Floats Rs 6,019 Mn EPC Tender For Paradol Nagpur Link

South East Central Railway (SECR) has invited bids for an Engineering, Procurement and Construction (EPC) contract to build a new broad gauge single line between Paradol Takeoff Point and Nagpur Road Station in Chhattisgarh. The contract carries an estimated cost of Rs 6,019.0 mn and requires an earnest money deposit of Rs 120.4 mn. The work is framed as an EPC assignment intended to strengthen regional rail infrastructure. The tender, issued under number CAO-C-BSP-26-27-15, specifies a completion period of 730 days and a bid validity of 180 days. Two pre-bid meetings are scheduled for 24 Augu..

Indian Railways Reports Nine Per Cent Rise In July Freight Loading

Indian Railways handled 141.3 million tonnes (141.3 mn t) of freight in July, marking a rise of nine per cent year on year. Freight loading maintained a positive trajectory across the network compared with the same month last year. Passenger traffic also increased in July, contributing to higher overall network utilisation. The July outcome continued a pattern of steady monthly gains, reflecting gradual improvement in industrial and logistics activity. The growth in freight volumes reflected stronger demand across multiple sectors and improvements in logistics and train turnarounds. Enhanced r..