Home / Business and Economy / Dalmia Bharat Wins CCI Nod for Jaiprakash Associates Acquisition in Insolvency Process
Dalmia Bharat Wins CCI Nod for Jaiprakash Associates Acquisition in Insolvency Process
5 Aug
Summary
- Dalmia Bharat's acquisition of debt-laden Jaiprakash Associates approved by CCI
- Several other entities, including Adani and Vedanta, also seeking CCI nod to bid
- Jaiprakash Associates has significant real estate and cement assets
On August 5, 2025, the Competition Commission of India (CCI) approved Dalmia Bharat's proposal to acquire the debt-laden Jaiprakash Associates Ltd (JAL) through the insolvency resolution process. JAL, which operates in sectors ranging from cement to real estate and hospitality, has been undergoing insolvency proceedings due to loan defaults.
In addition to Dalmia Bharat, several other prominent entities have also approached CCI to seek approval for submitting their own resolution plans for JAL. These include billionaire Gautam Adani's Adani Enterprises, the Vedanta Group, Jindal Power, and PNC Infratech. The Supreme Court has mandated that CCI approval is a key requirement before the Committee of Creditors can vote on any resolution plan.
JAL has significant real estate projects, including Jaypee Greens in Greater Noida and Jaypee Greens Wishtown in Noida, as well as cement plants in Madhya Pradesh and Uttar Pradesh. The company's insolvency proceedings were initiated through the National Company Law Tribunal in Allahabad, with creditors claiming a staggering Rs 57,185 crore in dues. The National Asset Reconstruction Company Ltd (NARCL) is the lead claimant after acquiring JAL's stressed loans from a consortium of lenders.
