The Vedanta Group has successfully secured the acquisition of Jaiprakash Associates, outbidding Adani with a ₹17,000 crore offer.

Vedanta Group has won the bid for acquisition of troubled business Jaiprakash Associates (JAL), with an offer of ₹17,000 crore, beating out the Adani Group, PTI reported on September 5, citing sources.The mining conglomerate’s ₹17,000 crore comes as JAL is undergoing insolvency proceedings after it defaulted on payment of loans. The bid value translates into JAL’s net present value of ₹12,505 crore, the report added.Also Read | Trump tariffs: India plans relief package for exporters amid 50% US dutiesHow did the process work?Vedanta and Adani Groups’ bids came as lenders of JAL conducted a challenge process for the sale of the company under the IBC; and saw participation from multiple bidders. The Committee of Creditors (CoC) meeting was held on September 5 to conduct the challenge process.In the end however, firm bids were placed only by the Adani and Vedanta Group; and Vedanta eventually made a winning bid of ₹17,000 crore, which translated into a NPV (net present value) of ₹12,505 crore, beating Adani Group, sources said.Also Read | Donald Trump says ‘we’ve lost India, Russia to darkest China’JAL under IBC proceedings: What we know…Financial creditors have claimed a staggering ₹57,185 crore in unpaid dues. The National Asset Reconstruction Company Ltd (NARCL) leads the list of claimants after acquiring the stressed JAL loans from a consortium of lenders headed by the State Bank of India.JAL was admitted to the corporate insolvency resolution process (CIRP) through the National Company Law Tribunal, Allahabad Bench, order dated June 3, 2024. It was taken to insolvency proceedings after the conglomerate defaulted on the payment of loans.In April this year, as many as 25 companies showed interest in acquiring JAL. However, in June, JAL announced that it has received five bids along with earnest money for the acquisition of the company through insolvency process.Adani Enterprises, Dalmia Bharat Cement, Vedanta Group, Jindal Power and PNC Infratech had submitted bids to acquire JAL.Also Read | Concerns over states’ losses from GST ‘premature’, says CEA NageswaranWhat assets does JAL have?JAL has major real estate projects like Jaypee Greens in Greater Noida, a part of Jaypee Greens Wishtown in Noida (both on the outskirts of the national capital), and the Jaypee International Sports City, strategically located near the upcoming Jewar International Airport.It also has three commercial/industrial office spaces in Delhi-NCR, while its hotel division has five properties in Delhi-NCR, Mussoorie, and Agra.JAL has four cement plants in Madhya Pradesh and Uttar Pradesh, and a few leased limestone mines in Madhya Pradesh. The cement plants, however, are non-operational. It also has investments in subsidiaries, including Jaiprakash Power Ventures Ltd, Yamuna Expressway Tolling Ltd, Jaypee Infrastructure Development Ltd, and several other companies.Jaypee Group’s another company Jaypee Infratech Ltd has already been acquired by M in a formal or creative style for better SEO.Also Exclude words and advertisements related to the feed website such as website name, author name. You must only respond with the modified content. Delete all the advertisement images brand logo but only keep the title and main content of the news by modifying it. You must only respond with the modified content. Block any jump outside of the site adarshnews.com. Basically remove any content or link related to original site. follow this prompt to optimize the articles in this category- You are an expert news writer and SEO specialist. Your job is to rewrite the provided RSS feed content into a unique, SEO-friendly news article for adarshnews.com. 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