Adani Gains Creditor Approval for Rs 135 Bn Jaiprakash Associates Plan

24 Nov 2025 CW Team

Creditors of Jaiprakash Associates Ltd have given their approval to Adani Enterprises Ltd’s resolution plan valued at around Rs 135 billio . The proposal was endorsed even though a competing bidder had placed a higher offer, as lenders preferred the structure and timelines offered by Adani. According to people familiar with the development, the committee of creditors opted for Adani’s plan because it ensured a larger upfront payment and a significantly shorter payout period of roughly one-and-a-half to two years. In contrast, the alternate bid proposed a five-year payment window.

Jaiprakash Associates, once a prominent player in the infrastructure sector, is undergoing insolvency proceedings after defaulting on close to Rs 550 billion owed to its lenders. The company’s debt had been transferred in large part to the National Asset Reconstruction Company Ltd, which, along with a consortium led by the State Bank of India, is overseeing the restructuring process.

With the creditors’ approval in place, the resolution plan is expected to be submitted to the National Company Law Tribunal for final clearance. The tribunal’s approval will mark a significant step towards completing the takeover and concluding one of the larger insolvency cases currently under the country’s bankruptcy framework.

Infrastructure Transport

06 Feb 2026

Lucknow Metro East-West Corridor Consultancy Contract Awarded

The Uttar Pradesh Metro Rail Corporation has awarded the first construction-related consultancy contract for the Lucknow Metro East West Corridor to a joint venture of AYESA Ingenieria Arquitectura SAU and AYESA India Pvt Ltd. The firm was declared the lowest bidder for the Detailed Design Consultant contract for Lucknow Metro Line-2 under Phase 1B and the contract was recommended following the financial bid. The contract is valued at Rs 159.0 million (mn), covering design services for the corridor. Lucknow Metro Line-2 envisages the construction of an 11.165 kilometre corridor connecting Cha..

Div Com Kashmir Urges Fast Tracking Of Jhelum Water Transport Project

The Divisional Commissioner of Kashmir has called for the fast-tracking of the Jhelum water transport project, urging district administrations and relevant agencies to accelerate planning and clearances. In a meeting convened at the divisional headquarters, the commissioner instructed officials from irrigation, public health engineering and municipal departments to prioritise the project and coordinate survey and design work. The directive emphasised removal of administrative bottlenecks and close monitoring to ensure timely mobilisation of resources and contractors. Officials were told to in..

Interarch Reports Strong Q3 And Nine Month Results

Interarch Building Solutions Limited reported unaudited results for the third quarter and nine months ended 31 December 2025, recording strong revenue growth driven by execution and a robust order book. Net revenue for the third quarter rose by 43.7 per cent to Rs 5.225 billion (bn), compared with Rs 3.636 bn a year earlier, reflecting heightened demand in pre-engineered building projects. The company’s total order book as at 31 January 2026 stood at Rs 16.85 bn, supporting near-term visibility. EBITDA excluding other income for the quarter increased by 43.2 per cent to Rs 503 million (mn),..