Tag: Jaiprakash Associates

Regulatory

Jaiprakash Associates’ promoters file petition in SC over land cancellation in Noida

NOIDA: Jaiprakash Associates Ltd’s (JAL) promoters have filed a special leave petition (SLP) in Supreme Court, challenging the Allahabad high court’s decision that upheld the cancellation of the group’s Sports City land along the Yamuna Expressway by the Yamuna Expressway Industrial Development Authority (YEIDA). However, the court refused to grant any interim stay or relief on the plea filed on June 7. Instead, it issued notice and directed the current SLP be tagged with the already pending related case. The petitioners had requested the court to maintain the status quo on the land. YEIDA had argued there was no justification…

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Adani Group, Vedanta, others submit resolution plans to acquire Jaiprakash Associates

Representative Image NEW DELHI: Billionaire Gautam Adani’s Group, mining mogul Anil Agarwal’s Vedanta, and Dalmia Bharat Cement have submitted their resolution plans to acquire Jaiprakash Associates through an insolvency process, according to sources. Jaypee Infratech, which has been acquired by Mumbai-based Suraksha Group, has also submitted the bid, they added. Baba Ramdev-led Patanjali Ayurved, however, has not submitted the resolution plan after showing initial interest, sources said. In April, as many as 25 companies showed interest in acquiring Jaiprakash Associates Ltd (JAL). Earlier this month, lenders of JAL extended the deadline for submission of resolution plans to June 24 on…