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.

Technology

24 Nov 2025

Buildroid AI Raises USD 2 Million to Launch Construction Robots

Buildroid AI has emerged from stealth with USD 2 million in pre-seed funding led by Tim Draper, marking the launch of its first AI-driven block-laying robot, unveiled at the Big Five Construction Conference in Dubai. The initiative targets productivity challenges in the UAE construction sector, which is projected to grow 5.2 per cent in 2025 and reach USD 130 billion by 2029.Founded by Slava Solonitsyn, a YC alumnus and former founder of Mighty Buildings, and Anton Glance, founder of Glance Clock, Buildroid initially aims to transform partition wall-building before scaling to wider application..

Western Corridor Launches Fastest Route to Walvis Bay Port

Zambia has commenced construction on the Western Corridor Transformation Project, a Public-Private-Partnership (PPP) initiative led by Western Corridor Limited (WCL), marking the launch of the fastest trade route from Zambia to Walvis Bay Port in Namibia. The groundbreaking ceremony in Kasempa was officiated by the President of Zambia, Mr Hakainde Hichilema, with senior government officials, private sector partners, and community representatives in attendance.Developed through an SPV incorporated by BeefCo Limited and First Quantum Minerals (FQM) Limited, WCL is upgrading the existing gravel a..

India Ranks 2nd in APAC Private Credit Fundraising: Knight Frank

India has emerged as the second-largest real estate private credit market in Asia-Pacific, contributing 36 per cent of regional fundraising between 2020 and 2024, according to Knight Frank’s Horizon Report: The Rise of Real Estate Credit in Asia-Pacific – Bridging the Gap. Private credit assets under management in India have risen from USD 0.7 billion in 2010 to USD 17.8 billion in 2023, supported by regulatory reforms, diversified funding structures, and sustained demand for flexible financing. India is expected to contribute 20–25 per cent of the region’s projected USD 90–110 billi..