Insolvency Showdown: JAL's $12,000 Crore Bidding Battle

Lenders and key investors of Jaiprakash Associates Ltd are set for a crucial meeting to discuss a 'challenge process' aimed at optimizing the value of the insolvent company's assets. The meeting is to include bids from major business entities like Adani Group and Dalmia Bharat, with a baseline bid of Rs 12,000 crore.

Devdiscourse News Desk | New Delhi | Updated: 04-09-2025 22:17 IST | Created: 04-09-2025 22:17 IST

Insolvency Showdown: JAL's $12,000 Crore Bidding Battle — This image is AI-generated and does not depict any real-life event or location. It is a fictional representation created for illustrative purposes only.

Country:
India

The lenders of Jaiprakash Associates Ltd, currently undergoing insolvency proceedings, are scheduled to meet on Friday to finalize a 'challenge process' organized by the resolution professional. This initiative aims to enhance the asset value of the financially struggling company.

Key participants in the bidding include Adani Group, Dalmia Bharat, Vedanta Group, Jindal Power, and PNC Infratech, all vying to acquire JAL. Important discussions were held earlier in August to facilitate negotiations with these bidders to maximize asset value.

The minimum bid stands at Rs 12,000 crore, and participants have to adhere to the framework set by the Insolvency and Bankruptcy Code and its regulations. JAL's conglomerate has significant assets, including real estate and industrial projects, amidst claims totaling Rs 57,185 crore.

(With inputs from agencies.)