Jaypee Group founder Jaiprakash Gaur on Friday supported the lenders’ decision to select Adani Group as the winner to acquire assets of bankrupt Jaiprakash Associates Ltd (JAL).
In a statement, Gaur said the committee of creditors have have selected Adani Group as the successful bidder for Jayprakash Associates Ltd (JAL) and “we fully respect the decision”.
He also expressed confidence that under Gautam Adani’s leadership, the legacy of Jayprakash Associates will be carried forward.
Gaur appreciated the fair and transparent process conducted by the Committee of Creditors (CoC) of JAL and the resolution professional, and thanked Adani and Vedanta groups for participating in the insolvency process.
Last month, the Allahabad bench of the National Company Law Tribunal (NCLT) approved Adani Group’s Rs 14,535 crore bid to acquire the assets of JAL. The decision was challenged by the Vedanta Group, which put a bid of Rs 17,926 crore, in the appellate tribunal NCLAT.
I am a content writer with 2.5 years of experience, currently working at ITV Digital. I specialize in entertainment journalism, covering the latest in Bollywood along with engaging healthy lifestyle stories. With a flair for storytelling and a keen eye for trends, I bring fresh, reader-friendly perspectives to every piece I write.
9 Dead, Many Injured Amid Overturning of Boat In Keshi Ghat Near Vrindavan: Rescue Underway
9 dead after a boat overturned in Keshi Ghat near Vrindavan.
Bengaluru sees heatwave conditions with temps up to 37°C; IMD warns of isolated thunderstorms, sudden…
Former Indian cricketer Yuvraj Singh has recalled the promise that ex-IPL commissioner Lalit Modi made…
