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.

Real Estate

05 Aug 2026

CREDAI-MCHI to Host 10th Design & Construction Conference

CREDAI-MCHI will host the 10th anniversary edition of its Design & Construction Conference on August 19, 2026, at the Jio World Convention Centre in Mumbai.The event is expected to bring together more than 500 procurement leaders, construction heads, architects, consultants and senior real estate decision-makers, alongside over 50 construction and ancillary brands.The conference will feature product launches, technology showcases, knowledge sessions, strategic business-to-business networking and recognition of procurement professionals contributing to the transformation of the construction..

BorgWarner Wins Extension for High-Voltage Inverter Programmes

BorgWarner has secured a major extension of several high-volume high-voltage inverter programmes from a leading European automotive manufacturer.The contracts cover updated inverter designs for plug-in hybrid and 800V battery-electric vehicle applications. Production is scheduled to begin in 2029.Isabelle McKenzie, President and General Manager, BorgWarner PowerDrive Systems, said the programme extensions demonstrate the company’s position in power electronics and reflect the strength of its technology, in-house expertise and customer relationships.For plug-in hybrid vehicles, BorgWarner wil..

Castrol India Q2 Profit Rises 43% to Rs 3.48 bn

Castrol India reported a 43 per cent year-on-year increase in profit after tax to Rs 3.48 billion for the quarter ended June 30, 2026, supported by growth across its consumer, industrial and institutional businesses.Revenue from operations increased 25 per cent to Rs 18.71 billion during the second quarter of 2026, compared with Rs 14.97 billion in the corresponding period of 2025. EBITDA rose 41 per cent to Rs 4.94 billion from Rs 3.50 billion.Sequentially, revenue increased from Rs 15.45 billion in the first quarter of 2026, while EBITDA rose from Rs 3.29 billion. Profit after tax increased ..