Adani Group News: Through the insolvency process, Adani Group has shown interest in purchasing Jaiprakash Associates Limited (JAL). The National Company Law Tribunal, Allahabad Bench, issued an order on June 3, 2024, admitting JAL, the flagship company of the Jaypee Group in the cement, energy, hotels, construction, and real estate industries, to corporate insolvency resolution proceedings under the Insolvency and Bankruptcy Code, 2016.

News organization Adani Group has submitted an expression of interest (EOI) to purchase the insolvent JL, according to sources cited by PTI. The resolution plan to buy JAL via bankruptcy should be requested for the complete firm as a going concern, rather than by dividing its several business verticals, the National firm Law Tribunal (NCLT) had ordered earlier this month.

JAL owed a total of Rs 55,493.43 crore to banks and financial institutions as of February 20, 2025. The business recently announced that its outstanding debts were transferred to National Asset Reconstruction Company Limited (NARCL) by a group of lenders.

SBI, IDBI, Axis, PNB, LIC, Canara, Bank of Maharashtra, IFCI, UCO, ICICI, South Indian, Punjab & Sind, Jammu & Kashmir, CDB Karur Vysya, Standard Chartered, XIM, IndusInd, Indian Overseas, Bank of India, Indian Bank, Bank of Baroda, Union Bank of India, Central Bank of India, and SREI Equipment Finance Limited are all part of the consortium.
It has not been revealed how much money was sent to NARCL overall.

The Mumbai-based Suraksha Group has previously purchased JP Infratech, another JP Group firm, via bankruptcy. Additionally, the Adani Group is negotiating the purchase of Emaar India, a division of Emaar Properties, a real estate company located in Dubai.