JAL was admitted to the Corporate Insolvency Resolution Process (CIRP) in June 2024 after defaulting on loans worth over Rs. 57,000 crores.
JAL, the flagship of the Jaypee Group, has interests across cement, power, engineering, hospitality, real estate and sports infrastructure.
CCI has approved the acquisition of up to 100% shareholding of JAL by Adani Enterprises Ltd (AEL), Adani Infrastructure and Developers Pvt Ltd (AIDPL), or any other Adani Group entity.
The Adani group has emerged as the highest bidder in the race to acquire engineering and construction firm Jaiprakash Associates (Jaypee group), which is currently undergoing insolvency proceedings.
