Adani Group, Vedanta, Dalmia Bharat, and Suraksha Group-backed Jaypee Infratech have submitted resolution plans to acquire Jaiprakash Associates Ltd (JAL),

Which is undergoing insolvency under the Corporate Insolvency Resolution Process (CIRP). The National Company Law Tribunal, Allahabad Bench, admitted JAL into CIRP on June 3, 2024, after loan defaults. Lenders have claimed dues amounting to ₹57,185 crore. Despite earlier interest, Patanjali Ayurved did not submit a final bid. The Committee of Creditors had extended the resolution plan submission deadline to June 24 after receiving requests from potential bidders. JAL, a diversified conglomerate, operates in real estate, cement, hospitality, and engineering and construction. The acquisition interest from major players like Adani, Vedanta, and Dalmia highlights the strategic value of JAL’s assets, particularly in cement and infrastructure. Earlier in April, 25 firms had expressed interest, signaling strong market appetite for JAL’s revival through a successful resolution plan.