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A total of 26 companies have submitted interest in acquiring Jaiprakash Associates Limited (JAL), which is currently undergoing insolvency proceedings. The list includes major names such as Gautam Adani’s Adani Group, Anil Agarwal’s Vedanta, and Ramdev’s Patanjali Ayurveda.
The update was shared by JAL through an official statement to the stock exchanges. Other significant companies that have shown interest include Torrent Group, Jindal Power, Dalmia Cement, GRM Business, Oberoi Realty, and Kotak Alternate Asset Managers.
NCLT Initiates Insolvency Process; ₹57,185 Crore in Claims
The corporate insolvency resolution process for JAL was ordered by the Allahabad bench of the National Company Law Tribunal (NCLT) on June 3, 2024. The order followed JAL’s failure to repay substantial outstanding debts.
As of now, creditors have claimed a total of ₹57,185 crore. The National Asset Reconstruction Company Limited (NARCL) tops the list after acquiring JAL's bad loans from a consortium led by State Bank of India.
Full List of Interested Companies Released
The provisional list of prospective resolution applicants (PRAs) includes:
Adani Enterprises
Vedanta Limited
Patanjali Ayurveda
Dalmia Cement
Torrent Power
Jindal Power & Jindal India Power
Kotak Alternate Asset Managers
Oberoi Realty
GMR Business and Consultancy
Jaypee Infratech
Multiple asset reconstruction and investment firms
Other firms in the list include Authum Investment, PNC Infratech, Sigma Corporation, Sherisha Technologies, India Opportunities Investments, Oriental Structural Engineers, Rashmi Metallics, and more.
Real Estate and Cement Assets Add to JAL's Value
JAL owns various high-value real estate and infrastructure assets. These include:
Jaypee Greens in Greater Noida
Jaypee Wishtown in Noida
Jaypee International Sports City
Commercial office spaces and five hotel properties in Delhi NCR, Mussoorie, and Agra
Cement plants in Madhya Pradesh and Uttar Pradesh (currently non-operational)
Leased limestone mines
Equity in subsidiaries like Jaiprakash Power Ventures and Yamuna Expressway Tolling
As of March 11, 2025, the company’s outstanding loans to financial institutions were reported at ₹55,409.28 crore.
