jaiprakash associates ltd

Group's resolution plan for the takeover of insolvent Jaiprakash Associates Limited.

Vedanta's Review Plea On AEL's Plan Dismissed

The insolvency resolution of jaiprakash associates ltd. is embroiled in a dispute over the approval of Adani Enterprises' bid over Vedanta's higher offer. Vedanta alleges procedural unfairness and a "commercial conspiracy," challenging the Committee of Creditors' reliance on "commercial wisdom" over value maximisation.

Jaiprakash Associates Limited is a renowned name in the construction sector of India that has a market cap of Rs 5594.65 crore. This mid cap company was formed after the amalgamation with its wholly owned subsidiary, Jaypee Cement Ltd. Post the amalgamation the name of the organization was changed to Jaiprakash Associates Limited.

Shares of Jaiprakash Associates and Jaiprakash Power Ventures ended with gains on Monday after these firms announced plans to divest their cement business as well as some non-core assets to reduce debt.

New Delhi, Oct 7 () jaiprakash associates ltd (JAL) today said its board had approved the transfer of certain assets and liabilities, including a debt of over Rs 11,834 crore, to its subsidiary Jaypee Infrastructure Development Ltd as part of its efforts to cut the overall borrowing of the company.

The I-T department has joined Jaiprakash Associates, its chairman and CEO Manoj Gaur and YEIDA in filing an appeal against NCLT's award of Jaypee Infratech to Suraksha Group.

Vedanta Ltd has emerged as the top bidder for jaiprakash associates ltd (JAIL), offering ₹12,505 crore, surpassing the Adani Group. The payment will be staggered, with ₹4,000 crore upfront post-NCLT approval and the balance over 5-6 years.

Hockey India on Wednesday announced jaiprakash associates ltd as one of the six franchises which will compete in the inaugural Hockey India League (HIL) from January 5 to February 13 next year.

New Delhi, Nov 24 () Debt-ridden Jaiprakash Associates has fixed November 28 as the effective date for restructuring of its USD 150 million foreign currency convertible bonds (FCCBs) maturing this year.

New Delhi, Nov 16 () Debt-ridden Jaiprakash Associates' finance committee has approved cashless exchange of existing convertible bonds worth USD 150 million due in 2017 with those maturing in 2020-21. Earlier this month, the RBI had approved the proposal.

In a major blow to jaiprakash associates ltd (JAL), which had plans to expand its cement production capacity in Himachal Pradesh, the state cabinet on Wednesday cancelled the cement project allotted to it in Chamba district.

With this, the group, which has interest in construction, engineering, hydroelectricity, cement and real estate, will enter the steel sector.

ICICI Bank has filed an insolvency petition against Jaiprakash Associates (JAL) before the National Company Law Tribunal (NCLT). The move comes a month after the Supreme Court paved the way for action against the parent of Jaypee Infratech that is yet to deliver flats and villas to nearly 25,000 buyers, some of whom had made the bookings close to a decade ago.

New Delhi, Aug 12 () CBI today carried out searches at the office of Jaiprakash Associates in connection with alleged fraud in claiming insurance money from United India Insurance Corporation Limited with regards to Dul Hasti hydroelectric power plant in Kishtwar.

New Delhi, Aug 10 () Ultratech Cements today said fair trade regulator Competition Commission of India (CCI) has approved the merger of the cement maker with jaiprakash associates ltd (JAL), Jaypee Cement Corporation Ltd (JCCL).

New Delhi, Nov 28 () Debt-ridden Jaiprakash Associates has completed the exercise to exchange its USD 150 million foreign currency convertible bonds (FCCBs) due this year with those maturing in 2020-21.

IDBI Bank has decided to withdraw the nomination of S K Mohapatra from the board of debt-ridden Jaiprakash Associates.

The insolvency resolution professional for Jaypee Infratech has accused the ailing company of “fraudulently and wrongfully” mortgaging 858 acre land to secure the loans of Jaiprakash Associates, its parent company. It has also alleged that the transaction amounted to “asset stripping”.