Gautam Adani, Vedanta of Anil Agarwal, Patanjali of Baba Ramdev, has 26 companies interested in buying the company because…
The company also owns commercial space and hotels in Delhi NCR, Agra and Mussoorie.
Billionaire Gautam Adani’s Adani Group, Anil Agarwal’s Vedanta and Baba Ramdev’s Patanjali Ayurveda are companies with 26 Jaiprakash Associates Ltd (JAL) interested in buying debt losses. according to Business standards.
JAL owns businesses in the cement, real estate, hospitality and construction sectors, owing about Rs 57,185 crore. On June 3, 2024, the National Corporate Court (NCLT) in Allahabad incorporated it into the Corporate Bankruptcy Resolution Process (CIRP).
JAL filed with the stock exchange with the name of other interested companies, including Torrent Group, Dalmia Cement, Jindal Power, Oberoi Realty and Kotak alternative asset managers. The list also includes investment and asset management companies such as Asset Reconstruction (India), JC Flowers Asset Reponstruction and India Mosporment XII Investments.
Jal has several large real estate projects, including Jaypee Greens in Greater Noida and the upcoming Jaypee International Sports City near Jewar International Airport. It also owns commercial space and hotels in Delhi NCR, Agra and Mussoorie.
The company owns four cement plants in Madhya Pradesh and Uttar Pradesh, although they are currently non-operating. It also owns limestone mining and invests in several subsidiaries including Jaiprakash Power Ventures Ltd and Yamuna Expressway Tolling Ltd.
National Asset Reconstruction Company Limited (NARCL) is the largest creditor, which received stress loans from JAL from a group of banks led by SBI.
