NEW DELHI, Nov 9: Adani Enterprises Ltd is likely to emerge as the highest bidder to acquire Jaiprakash Associates Ltd (JAL) through its insolvency process, offering payments within two years, while Vedanta proposes a five-year schedule.
The Committee of Creditors (CoC) evaluated resolution plans from Adani, Dalmia Cement, Vedanta, Jindal Power, and PNC Infratech, ranking Adani highest.
JAL, spanning real estate, cement, power, hotels, and roads, entered insolvency after defaulting on loans totaling around Rs 60,000 crore.
Over a thousand homebuyers are affected, with NARCL leading creditor claims. Key assets include Jaypee Greens, Jaypee International Sports City, cement plants in MP and UP, hotels in Delhi-NCR and Mussoorie, and subsidiaries like Jaiprakash Power Ventures. The CoC may vote on Adani’s plan soon. (PTI)
