Tag: adani enterprises

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Adani Enterprises Launches Three New Hotel & Airport Units

NEW DELHI: Adani Enterprises Ltd (AEL) announced that its subsidiary has established three new wholly-owned units focusing on hotel and real estate development, part of its airport city expansion strategy. Adani Airport City Ltd, a wholly-owned step-down subsidiary, has formed Adani Navi Mumbai Airport City Ltd, Adani Guwahati Airport City Ltd, and Adani Ahmedabad Airport City Ltd. The newly formed entities will engage in real estate operations, including construction and hospitality services such as integrated restaurants, banquet facilities, and business centers, according to a regulatory filing. The subsidiaries “will be involved in real estate activities with owned or leased properties,…

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Vedanta questions metrics for Adani’s JAL bid selection

NEW DELHI: The Vedanta Group has raised concerns regarding the evaluation criteria used by the creditors of Jaiprakash Associates Ltd (JAL), which opted for a lower bid of ₹3,400 crore from Adani Enterprises for the financially troubled company. During a session at the National Company Law Appellate Tribunal (NCLAT), Vedanta’s counsel remarked that the “valuation process has compromised the commercial judgment” exercised by the committee of creditors (CoC). Senior advocate Abhijeet Sinha questioned whether the CoC’s evaluation matrix aimed at value maximization or served some other agenda. Sinha argued that the evaluation matrix, along with the resolution plan request (RFRP)…

Latest StoriesResidential

Legal Challenges for Jaypee Sports City Buyers Amid Adani Takeover

NOIDA: The National Company Law Tribunal (NCLT) has approved Adani Enterprises’ ₹14,535 crore resolution plan for Jaiprakash Associates Ltd (JAL) in accordance with the Insolvency and Bankruptcy Code, 2016. The future of the stalled Jaypee Sports City project, along with the thousands of homebuyers affected, is now contingent upon the outcome of a simultaneous legal dispute before the Supreme Court. The Supreme Court is scheduled to hear a petition from the developer challenging a March 2025 ruling by the Allahabad High Court, which affirmed the decision made by the Yamuna Expressway Industrial Development Authority (YEIDA) to annul JAL’s allotment of…

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NCLT Greenlights Adani’s ₹14,535 Cr Bid for Jaiprakash Associates

NEW DELHI: The National Company Law Tribunal (NCLT) has sanctioned Adani Enterprises Ltd’s bid of ₹14,535 crore to acquire Jaiprakash Associates Ltd as part of the insolvency proceedings. Jaiprakash Associates Ltd (JAL) reported in a regulatory filing that the Allahabad bench of the NCLT orally pronounced its order on March 17, 2026, approving the resolution plan proposed by Adani Enterprises Ltd. In November of the previous year, a Committee of Creditors (CoC) gave its nod to the acquisition plan suggested by business tycoon Gautam Adani. Adani Enterprises secured the endorsement of JAL’s creditors for its ₹14,535 crore bid, surpassing competitors…

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Land Shortages Fuel Strategic Acquisitions through Bankruptcy

As land availability tightens and competition grows in India’s major cities, strategic buyers are increasingly using the corporate insolvency resolution process under the Insolvency and Bankruptcy Code to acquire urban real estate. This framework is becoming crucial in facilitating ownership changes and land consolidation in areas with limited supply, a trend reflected in various recent rulings by bankruptcy tribunals nationwide. Data from the Insolvency and Bankruptcy Board of India indicates that by the end of September, 8,659 companies had entered insolvency proceedings, with around 1,905 being real estate companies. Of these, approximately 1,472 have received resolution plans from prospective buyers,…

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Adani Enterprises Set to Outbid Vedanta for Jaiprakash Associates

NEW DELHI: Adani Enterprises Ltd is expected to be the top bidder for the acquisition of Jaiprakash Associates Ltd (JAL) through an insolvency process, as its proposal to make payment over two years has been deemed more favorable than Vedanta’s five-year payment plan, sources indicated. In early September, Vedanta Group had outbid Adani Group with a net present value (NPV) offer of Rs 12,505 crore in an auction led by lenders to find buyers for JAL, which operates in sectors including real estate, cement, power, hotels, and roads. Dalmia Cement (Bharat) Ltd, Jindal Power Ltd, and PNC Infratech Ltd did…

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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…