The Adani Group considers Jaiprakash Associates for acquisition through insolvency procedures. The conglomerate filed an Expression of Interest (EOI) to acquire the debt-ridden company which underwent corporate insolvency resolution under the Insolvency and Bankruptcy Code.
Jaiprakash Associates Ltd (JAL) operates under the Jaypee Group umbrella and maintains business activities in cement production power generation hotels and real estate development. The National Company Law Tribunal (NCLT) has directed the invitation of resolution plans for JAL as a unified entity instead of evaluating its business segments separately. The company recorded a total loan sum of ₹55,493.43 crore during February 2025.
A group of financial institutions led by SBI and ICICI Bank and LIC transferred JAL’s debt to National Asset Reconstruction Company Ltd (NARCL) without disclosing the specific amount. The resolution professional Bhuvan Madan leads the current process.
Through an insolvency acquisition the Mumbai-based Suraksha Group acquired Jaypee Infratech which belongs to the Jaypee Group. The Adani Group continues talks to purchase real estate company Emaar India which will enhance its business portfolio.
