Tag: adani enterprises

IndustryLatest Stories

Lenders Deny Jaypee Infratech’s Bid to Acquire Bankrupt Firm

NEW DELHI: Creditors of Jaiprakash Associates Ltd (JAL) have declined Jaypee Infratech’s bid to accept its resolution plan for the acquisition of the financially troubled company. Five firms—Adani Enterprises, Vedanta Group, Dalmia Bharat Cement, Jindal Power, and PNC Infratech—have put forth their plans for JAL’s acquisition. On June 25, JAL’s lenders rejected Jaypee Infratech’s resolution plan from Suraksha Group, citing its late submission and lack of earnest money. Sources indicate that Jaypee Infratech has requested the Committee of Creditors (CoC) of JAL to reconsider their decision and allow participation in the insolvency process. During a meeting on July 1, CoC…

CommercialLatest Stories

Noida Authority: Adani Cannot Sub-Lease Data Centre Yet

Representative Image NOIDA: The Noida Authority has decided against allowing Noida Data Centre Ltd — an Adani Enterprises subsidiary — to sub-lease its Sector 80 industrial plot until the project becomes operational. This marks a change from the Authority’s previous position, as officials emphasized they would adhere strictly to the original terms of the allotment. Officials noted that the plot, allocated to Adani in 2021, remains undeveloped, and the company has not submitted an application for map approval. They referenced Clause 14-B of the lease deed, stating that sub-leasing is permitted only after the unit has received an occupancy certificate…