Adani Entities win CCI ( Competition Commission Of India) approval for Jaiprakash Associates Limited deal. The Competition Commission of India confirmed that entities from the Adani Group plan to acquire up to 100% equity in Jaiprakash Associates.
As per the CCI release, Jaiprakash Associates is currently undergoing insolvency proceedings initiated by the NCLT Allahabad, under the provisions of the Insolvency and Bankruptcy Code, 2016.
Due to loan defaults, JAL began insolvency proceedings in June 2024 under NCLT’s order; creditors are seeking ₹57,185 crore. Leading Creditor NARCL Takes Control of Stressed Jaiprakash Loans from SBI Consortium.
On August 5, CCI reviewed Dalmia Bharat’s proposal to fully acquire JAL, while several other bidders expressed interest in the debt-laden company managing major real estate projects near Jewar Airport.
With four non-operational cement plants and leased limestone mines, JAL also holds investments across multiple subsidiaries.
Mumbai-based Suraksha Group has acquired Jaypee Infratech through insolvency proceedings, while Jindal Power, PNC Infratech, and Vedanta Group have also submitted proposals to the CCI seeking approval to present their resolution plans to the Committee of Creditors.
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As per Supreme Court directives, the CoC must obtain CCI approval before voting on any resolution plan involving JAL; the CoC is currently evaluating the proposals.
