ADANIENT

Adani Group keen to acquire Jaiprakash Associates by insolvency: Sources

Business conglomerate Adani Group has shown interest in acquiring Jaiprakash Associates Ltd (JAL) through an insolvency process, according to sources. Jaypee Group's flagship firm JAL, which is into cement, power, hotels, construction and real estate businesses, has been admitted into the corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016, through an order dated June 3, 2024, passed by the National Company Law Tribunal, Allahabad Bench. Sources said that Adani Group has submitted an Expression of Interest (EOI) to acquire the bankrupt JAL.