Fact-checked by Grok 2 weeks ago

Jaypee Group

Jaiprakash Associates Limited, commonly referred to as the Jaypee Group, is an Indian conglomerate founded by Jaiprakash Gaur in 1979 and headquartered in Noida, Uttar Pradesh. The group has historically operated across diverse infrastructure sectors, including engineering and construction, cement manufacturing, hydroelectric power generation, real estate development, and expressways. Notable achievements include constructing major projects such as the Tehri Dam—the tallest dam in India—and the 165 km Yamuna Expressway connecting Noida to Agra, as well as contributing to over half of India's hydropower capacity through multiple river valley initiatives. In cement, it ranked as India's third-largest producer with facilities across 10 states before divesting assets to UltraTech in 2017. However, aggressive expansion funded by substantial debt—reaching approximately ₹61,285 crore by 2015—led to financial overleverage, stalled real estate projects affecting thousands of homebuyers, and multiple insolvency proceedings under the National Company Law Tribunal, including against flagship Jaiprakash Associates in 2024 and subsidiary Bhilai Jaypee Cement in 2025. On November 19, 2025, creditors approved Adani Enterprises' resolution plan to acquire Jaiprakash Associates for approximately ₹13,500 crore, pending final approval from the National Company Law Tribunal (NCLT).

Overview

Corporate Structure and Operations

Jaiprakash Associates Limited (JAL) functions as the flagship holding company of the Jaypee Group, coordinating a network of subsidiaries engaged in diversified infrastructure-related activities. This structure enables centralized oversight of sectors including engineering and construction, cement, and power, with JAL integrating operations across these verticals. Key subsidiaries include Jaypee Infratech Limited (JIL), focused on infrastructure development such as expressways; Jaypee Cement Corporation Limited (JCCL), handling cement production; and Jaiprakash Power Ventures Limited (JPVL), managing power generation assets. JCCL, for instance, operates cement plants with associated captive power facilities, illustrating the group's approach to integrated operations. Other entities, such as Bhilai Jaypee Cement Limited and Gujarat Jaypee Cement & Infrastructure Limited, support cement capacities totaling several million tonnes per annum, while power subsidiaries like JPVL oversee thermal and hydroelectric capacities exceeding 2,000 MW. The group's operational model relies heavily on engineering, procurement, and construction (EPC) contracts, particularly for turnkey execution of hydropower and river valley projects, positioning JAL as a primary contractor in India's infrastructure sector. Backward integration is a core feature, with captive power generation—such as the 60 MW facility at JCCL's Shahbad plant—ensuring self-sufficiency in energy for energy-intensive processes like cement manufacturing. Operations remain India-centric, with a nationwide footprint centered on domestic projects, though financial restructuring and insolvency proceedings since 2017 have impacted subsidiary activities, including stalled initiatives in fertilizers and aviation.

Economic Contributions and Scale

The Jaypee Group scaled to become one of India's major private infrastructure players, employing over 10,000 individuals directly across its operations in engineering, cement, and power sectors, with tens of thousands more engaged in project-specific construction and manufacturing roles during peak expansion phases. Its cement division positioned the group as India's third-largest producer, operating facilities with a combined capacity of approximately 22 million tonnes per annum (MTPA) at its height, primarily in resource-rich clusters like Madhya Pradesh. This output supported national construction demands efficiently through modern, computerized plants, outpacing some public alternatives in capacity utilization and technological adoption. In hydropower, the group led private sector investments, developing projects that accounted for 54% of India's hydropower initiatives during the 10th Five Year Plan (2002–2007) and contributing to 27% of the country's overall installed hydro capacity via operational assets exceeding 1,700 MW, including the 1,000 MW Karcham Wangtoo plant commissioned in 2011. These efforts demonstrated private capital's ability to execute large-scale energy infrastructure faster than state-led programs, which often faced delays, thereby bolstering India's power grid and indirect GDP contributions through enhanced industrial productivity and regional development. The group's focus on hydropower filled critical gaps in renewable energy supply, where public sector progress lagged due to bureaucratic and funding constraints. By channeling private resources into roads, dams, and power, Jaypee accelerated national infrastructure buildup, enabling economic multipliers like improved logistics and energy access that public monopolies struggled to match in speed and scale during the 2000s and early 2010s. This approach exemplified how diversified private conglomerates could drive sectoral efficiencies, supporting broader growth in manufacturing and construction without relying on subsidized state funding.

Leadership and Founding

Jaiprakash Gaur and Key Executives

Jaiprakash Gaur, born January 1, 1931, in Chitta village, Bulandshahr district, Uttar Pradesh, holds a diploma in civil engineering obtained in 1950 from the University of Roorkee (now Indian Institute of Technology Roorkee). After initial employment as a junior engineer in Uttar Pradesh state public works, Gaur launched a contracting firm that laid the groundwork for the Jaypee Group, formalized in 1979 with an emphasis on civil engineering projects. His leadership prioritized securing high-value government contracts through competitive bidding, particularly in irrigation and hydropower, while pursuing vertical integration by developing in-house cement production to reduce costs and enhance project execution efficiency. This approach enabled early successes in large-scale infrastructure, establishing the group as a key player in India's construction sector by the 1980s. Gaur's sons, Manoj Gaur and Pankaj Gaur, emerged as key executives instrumental in guiding diversification. Manoj Gaur, as Executive Chairman and CEO of Jaiprakash Associates Limited since 1985, directed expansions into power generation, including hydropower plants, and real estate developments, applying the founder's contract-focused model to integrated projects that combined construction with resource production. Pankaj Gaur, serving as Managing Director, contributed to operational oversight in engineering and cement segments, supporting decisions that scaled the group's capabilities in vertically linked ventures. These executives built on Gaur's foundational vision of self-reliance and bold project pursuits, driving the group's growth into multifaceted operations while maintaining family-led decision-making until Gaur's retirement in 2010.

Governance and Management Practices

The governance structure of Jaypee Group centers on promoter dominance by the Gaur family, with Jaiprakash Gaur as founder and director until his 2010 retirement, followed by Manoj Gaur, his son, serving as Executive Chairman and CEO of flagship Jaiprakash Associates Limited. The board comprises family executives alongside independent directors, including Narinder K Grover and Krishna M Singh, in compliance with regulatory requirements for oversight. This composition evolved from concentrated family control in the group's early decades to incorporate independent members post-2000s listing norms, though promoter holdings remained substantial at around 39% as of 2020, supporting swift strategic decisions amid infrastructure booms. Management practices prioritized integrated operations across segments, harnessing internal synergies such as captive cement production for construction projects and in-house engineering for hydropower developments, which yielded cost efficiencies and execution speed in initial EPC undertakings like dams and expressways. The board-approved risk management policy addresses operational, financial, and project-specific vulnerabilities through periodic reviews, yet pre-crisis structures exhibited limited diversified oversight, enabling aggressive scaling but amplifying exposures during sector downturns. Independent directors conduct annual evaluations of board performance, emphasizing transparency and accountability as core principles. Early governance facilitated empirical successes in project delivery, with the group's vertically integrated model demonstrating on-time completions in over 18 states by the 2000s, contrasting with subsequent overextension into real estate and power amid rising leverage. This promoter-centric approach, while effective for rapid infrastructure buildup, underscored vulnerabilities from inadequate counterbalancing of family-led risk appetites against cyclical industry demands.

Business Segments

Engineering and Construction

Jaiprakash Associates Limited, the flagship entity of Jaypee Group's engineering and construction arm, specializes in engineering, procurement, and construction (EPC) services for large-scale civil infrastructure, encompassing river valley projects, hydropower facilities, tunnels, and highways. The division maintains comprehensive in-house expertise, enabling full-cycle execution from conceptual design through procurement, fabrication, and commissioning without reliance on external subcontractors for core technical functions. This integrated approach facilitates handling of mega-scale works, including complex geotechnical challenges such as high-pressure tunneling and mass concrete pouring for hydraulic structures. Jaypee Group's EPC capabilities are bolstered by its dedicated design and consultancy unit, Jaypee Infra Ventures, which holds the highest "CT1" grading from Indian regulatory bodies, providing a competitive edge in bidding and execution through proprietary engineering solutions. The group's technical proficiency extends to advanced construction methodologies, such as roller-compacted concrete for dams and segmental lining for tunnels, developed through decades of iterative refinement in challenging terrains. A key aspect of operational self-reliance stems from vertical integration with the group's cement manufacturing segment, which supplies specialized Portland Pozzolana Cement (PPC) directly to construction sites, minimizing supply chain disruptions and cost overruns associated with third-party sourcing. This synergy has enabled consistent material quality control and logistical efficiency across projects. The division's track record includes securing prestigious EPC contracts from entities like the National Hydroelectric Power Corporation (NHPC), where it won three of five awards for projects exceeding 1,000 MW capacity, primarily due to demonstrated adherence to delivery timelines and technical reliability in prior executions. Such successes underscore Jaypee's reputation for on-schedule completion in high-stakes civil works, though recent financial constraints have shifted focus toward resolution processes rather than new bids.

Cement Manufacturing

Jaypee Group's cement operations primarily produced grey cement, targeting demand from infrastructure and construction sectors in India. The division expanded rapidly from a single 1 million tonne per annum (MTPA) plant established in 1986, achieving a total installed capacity of 21.3 MTPA by 2011, including 2.2 MTPA from joint ventures. This growth positioned the group as a major player in the Indian cement market during the 2000s expansion phase, with plants strategically located in northern, central, and southern regions to serve regional infrastructure needs. Key facilities included the Rewa Cement Plant in Madhya Pradesh, with a production capacity of 3.0 MTPA, focusing on integrated clinker production and grinding. The Bhilai Jaypee Cement Limited (BJCL), a joint venture with Steel Authority of India Limited (SAIL) formed in the early 2000s, operated split-location plants utilizing blast furnace slag from SAIL's steel operations for cement grinding; it contributed approximately 2.2 MTPA to the group's capacity through efficient co-processing of industrial byproducts. Other notable plants encompassed integrated units at Sidhi and grinding facilities across states like Uttar Pradesh, Madhya Pradesh, and Karnataka, emphasizing scalability for bulk grey cement supply. To enhance cost competitiveness, Jaypee adopted captive thermal power plants (CPPs) at multiple sites, such as the 2x60 MW facility at the Sidhi Cement Plant and a 60 MW CPP at the Shahbad unit in Karnataka, ensuring self-sufficient energy supply and reducing reliance on grid power amid volatile fuel costs. These CPPs, often high-pressure boiler-based systems integrated with cement production, supported operational efficiency during the group's diversification into large-scale manufacturing. By the late 2000s, expansion plans outlined up to 12 integrated plants, 12 grinding units, and corresponding CPPs, aligning production with surging domestic demand for cement in highways, dams, and urban projects.

Power Generation

Jaiprakash Power Ventures Limited (JPVL), the power generation arm of the Jaypee Group, operates a portfolio centered on hydroelectric and thermal assets, marking early private-sector involvement in India's competitive power sector. The flagship 400 MW Vishnuprayag Hydroelectric Power Plant, located on the Alaknanda River in Uttarakhand, exemplifies run-of-the-river technology, harnessing seasonal flows without large-scale reservoirs. Commissioned on May 5, 2007, it achieved full capacity by 2010, generating approximately 1.7 billion units annually under long-term power purchase agreements with Uttar Pradesh and other states. Complementing hydro operations, the 1,320 MW Nigrie Super Thermal Power Plant in Madhya Pradesh utilizes supercritical boiler technology for improved fuel efficiency and reduced emissions per unit of output, firing on domestically sourced coal from captive mines. Operational since unit 1's commissioning in September 2014 and unit 2 in March 2015, it supplies base-load power primarily to Madhya Pradesh and adjacent grids, with a plant load factor exceeding 70% in peak years. Run-of-the-river projects like Vishnuprayag minimize ecological disruption by avoiding extensive flooding or sedimentation issues associated with reservoir-based dams, preserving downstream riverine habitats and fisheries while maintaining consistent generation tied to monsoon inflows. This approach aligns with India's hydropower policy emphasizing low-impact development, enabling JPVL to secure environmental clearances and contribute over 400 MW to northern grid stability without the displacement typical of storage-heavy alternatives. JPVL's assets have bolstered India's power capacity expansion, with Vishnuprayag and Nigrie adding reliable generation during the mid-2000s to 2010s, when the country shifted from deficits to surpluses—thermal capacity surpassing 200 GW by 2015. These facilities, integrated via 25-year power purchase agreements, supported peak demand growth in underserved regions, enhancing grid reliability through diversified fuel sources and private investment in supercritical and hydro infrastructure.

Real Estate and Hospitality

The Jaypee Group's real estate operations centered on developing large-scale integrated townships that incorporate residential, commercial, and leisure components to foster self-contained urban communities. The flagship project, Jaypee Wish Town at Jaypee Greens in Noida, encompasses approximately 1,162 acres and features a mix of high-rise apartments, villas, plots, and commercial spaces, alongside amenities such as an 18-hole Greg Norman-designed golf course, parks, and clubhouses. This development model emphasized sophisticated city living integrated with neighborhood-scale facilities, spanning over 50 sub-projects within the township. In hospitality, the group managed a portfolio of luxury properties under Jaypee Hotels, targeting upscale travelers and business guests with premium services. Key assets include the Jaypee Vasant Continental in New Delhi, a 5-star hotel offering 325 rooms, multiple dining outlets, an outdoor pool, spa, and proximity to Indira Gandhi International Airport, approximately 8 km from the domestic terminal. Other properties comprise the Jaypee Palace Hotel in Agra, Jaypee Greens Golf & Spa Resort in Greater Noida, Jaypee Residency Manor in Mussoorie, and Jaypee Siddharth in New Delhi, collectively providing around 1,200 keys focused on heritage, golf, and urban luxury experiences. Jaypee's approach to real estate development relied on repurposing land banks acquired through infrastructure concessions, such as expressway and special economic zone allocations, to create housing and mixed-use developments. For instance, land obtained for projects like the Buddh International Circuit involved 2,500 acres originally earmarked for an SEZ, with 60% allocated for residential and commercial real estate to offset costs and generate revenue. This strategy enabled the integration of infrastructure-derived parcels into townships like Wish Town, promoting efficient land utilization and urban planning synergies without relying solely on greenfield acquisitions.

Other Ventures

The Jaypee Group expanded into sports infrastructure and management through its subsidiary Jaypee Sports International Limited, established to develop the Jaypee Sports City in Greater Noida, Uttar Pradesh. This 3,000-acre integrated complex encompassed facilities for multiple disciplines, including a 120,000-seat international cricket stadium, an international hockey arena, athletic tracks, and training academies for various sports. The initiative aimed to position the group as a promoter of elite sporting events in India, leveraging its engineering expertise for construction while diversifying revenue streams beyond traditional infrastructure. Central to this venture was the Buddh International Circuit, a 5.14-kilometer motor racing track designed to FIA Grade 1 standards, completed in 2011 at a cost exceeding $400 million. Owned and initially operated by Jaypee Sports International, the circuit hosted the Formula One Indian Grand Prix annually from 2011 to 2013, drawing over 100,000 spectators per event and marking India's entry into global motorsports. It featured 16 turns, high-speed straights reaching 320 km/h, and advanced safety features, contributing to the group's brief foray into event promotion and ancillary services like hospitality tie-ins. The track also accommodated MotoGP events, including the Bharat GP in 2023 under lease arrangements amid the group's financial restructuring. Beyond motorsports, the sports city included multi-sport academies focused on cricket, football, and tennis, with partnerships for youth development programs. However, high operational costs and insufficient revenue from events led to scaled-back activities post-2013, with the facilities increasingly leased to external operators as the Jaypee Group's debt burden intensified. This diversification highlighted the conglomerate's ambition to integrate sports with real estate development but underscored challenges in sustaining non-core operations without core business synergies.

Major Projects and Achievements

Hydropower Initiatives

The Jaypee Group's entry into private hydropower marked a significant shift from government monopolies following India's liberalization of the sector in the 1990s, with Baspa-II emerging as the inaugural private-sector project. Commissioned on June 8, 2003, the 300 MW Baspa-II run-of-the-river plant on the Baspa River—a tributary of the Sutlej in Himachal Pradesh—represented India's largest private hydro initiative at the time, generating power for the northern grid through three 100 MW Pelton turbines with a net head of 265 meters. This project demonstrated feasibility of private investment in challenging Himalayan terrain, contributing approximately 1,100 GWh annually to mitigate peak summer shortages in northern states. Expanding its portfolio, the group developed the 1,000 MW Karcham Wangtoo run-of-the-river project on the Sutlej River in Himachal Pradesh, with the first 250 MW unit commissioned in May 2011 and full operations by 2013, featuring four 250 MW Francis turbines under a 298-meter gross head. Engineering highlights included excavating a 17.2 km, 10.48-meter diameter headrace tunnel through geologically unstable Himalayan rock using drill-and-blast methods with steel rib supports in poor conditions, alongside an underground powerhouse and India's largest desilting complex to handle sediment loads. The facility added substantial baseload capacity to the northern grid, exporting up to 80% of output to states like Uttar Pradesh and Delhi, while minimal storage elements aided localized flood moderation during monsoons. In parallel, Jaypee's engineering arm executed the 900 MW Baglihar project (Stages I and II, each 450 MW) on the Chenab River in Jammu and Kashmir as an EPC contractor, with Stage I operational by 2008-2009 amid seismic and geopolitical challenges. This gravity dam structure, featuring a 144.5-meter-high barrier, incorporated run-of-the-river design with pondage for peaking, delivering 900 MW to the northern grid and providing ancillary benefits like regulated flows for downstream irrigation in Jammu regions. The Vishnuprayag 400 MW plant, commissioned in October 2006 on the Alaknanda River in Uttarakhand, further exemplified high-head (915 meters) run-of-the-river execution with Pelton turbines, bolstering grid stability in the energy-deficient northern Himalayas. Collectively, these initiatives underscored Jaypee's role in adding over 2,600 MW of private and contracted hydro capacity, enhancing grid reliability through diversified peaking and baseload supply.

Transportation Infrastructure

The Jaypee Group's transportation infrastructure efforts primarily revolve around the construction of expressways using build-operate-transfer (BOT) models, which enable private sector investment to alleviate fiscal pressures on public authorities. Through its subsidiary Jaypee Infratech Limited, the group pioneered large-scale highway projects in India, emphasizing access-controlled corridors designed for high-speed travel and regional connectivity. These initiatives incorporated engineering innovations such as concrete paving for durability and provisions for future expansion, contributing to efficient traffic flow and economic integration along key routes. The flagship Yamuna Expressway, a 165.5-kilometer, six-lane (expandable to eight lanes) controlled-access highway, links Pari Chowk in Greater Noida to Kuberpur on National Highway 2 near Agra, paralleling the Yamuna River. Completed in May 2012 after a concession agreement under a public-private partnership framework, the project featured a 100-meter right-of-way, concrete surfacing for enhanced longevity, and integrated service roads totaling 168 kilometers to support local access. Safety elements included median barriers and emergency lanes, while the design reduced Delhi-to-Agra travel time to approximately two to two-and-a-half hours, fostering an economic corridor by facilitating industrial and tourism growth in Uttar Pradesh. In addition to the Yamuna project, the group pursued other highway developments, such as a proposed ring road around Agra starting from National Highway 2 near Kuberpur, awarded in 2009 with an estimated cost of Rs 1,100 crore to improve urban connectivity and reduce congestion. The BOT approach in these ventures allowed Jaypee to finance, construct, and operate assets like toll plazas and rest areas, thereby transferring operational risks from government entities and accelerating infrastructure rollout without direct public funding. This model demonstrated scalability in handling complex, high-volume road networks, with the group's engineering expertise enabling rapid execution of multi-lane alignments amid challenging terrains.

Sports and Entertainment Facilities

The Jaypee Group developed the Buddh International Circuit (BIC) in Greater Noida, Uttar Pradesh, inaugurating it in October 2011 as a flagship component of the 2,500-acre Jaypee Sports City integrated township. Constructed at a cost of approximately $400 million, the circuit was engineered to meet international motorsport standards, incorporating a 5.125 km track layout optimized for high-speed racing and overtaking opportunities. Designed by German racetrack specialist Hermann Tilke, BIC hosted the Formula One Indian Grand Prix annually from 2011 to 2013, marking India's entry onto the global Formula One calendar and enhancing the country's motorsport infrastructure profile. The venue featured advanced technical specifications, including a seating capacity exceeding 110,000 spectators, comprehensive pit facilities, and support for large-scale events that drew international teams and audiences. These facilities generated economic benefits through event-driven tourism and short-term employment in logistics, hospitality, and operations, with the F1 races attracting tens of thousands of visitors and promoting ancillary infrastructure development within Jaypee Sports City. The circuit's establishment aligned with the group's broader aim to integrate sports venues with real estate and urban planning, positioning BIC as a catalyst for regional economic activity during its operational peak.

Historical Timeline

Establishment and Early Growth (1970s–1990s)

Jaiprakash Gaur, who obtained a diploma in civil engineering in 1950 and initially worked as a junior engineer for government projects, established the foundational contracting business in 1958 in Mangrol, Kota, focusing on civil engineering works. This evolved into the formal incorporation of Jaiprakash Associates Private Limited in 1979, marking the structured beginning of what would become the Jaypee Group as a specialized construction entity. The early operations emphasized heavy civil construction, leveraging Gaur's experience in government contracts to build capabilities in large-scale infrastructure. During the 1980s, the group secured key contracts in irrigation and hydropower, contributing to projects like the Sardar Sarovar Dam on the Narmada River, where it executed significant portions of the civil and hydro-mechanical works, honing expertise in dam construction and river valley development. These endeavors established a reputation for handling complex engineering challenges in water resources, amid India's predominantly public-sector dominated infrastructure sector at the time. By the late 1980s, this led to the 1986 formation of Jaiprakash Industries Limited through the merger of Jaiprakash Associates with Jaypee Rewa Cement, integrating backward into cement production to support construction needs while maintaining a core focus on hydro and irrigation expertise. The 1990s saw initial shifts toward greater private-sector involvement, foreshadowing India's 1991 economic liberalization, as the group pursued hydropower opportunities such as the establishment of Jaiprakash Hydro Power Limited in 1992 for the Baspa II project, solidifying its transition from government-dependent contracting to diversified infrastructure capabilities. This period laid the groundwork for the conglomerate's expansion, with early successes in executing high-volume concrete placements and hydro installations critical to national water management goals.

Expansion and Diversification (2000s)

During the early 2000s, the Jaypee Group consolidated its position in cement manufacturing through strategic mergers amid India's post-liberalization infrastructure surge. In 2000, the Jaypee Rewa Cement Plant and Jaypee Bela Cement Plant were merged to establish Jaypee Cement Ltd., enhancing production capacity and operational synergies. By 2002, the cement division of Jaiprakash Industries Ltd. was hived off into Jaiprakash Associates Ltd., integrating it into the group's core structure and supporting downstream infrastructure projects with captive supply. This move capitalized on rising domestic demand for construction materials, driven by economic liberalization and public-private partnerships that favored efficient private players over state-led delays in sector development. The group simultaneously diversified into power generation, entering independent power producer (IPP) models with a focus on hydroelectric and thermal capacities. The 300 MW Baspa-II hydroelectric project in Himachal Pradesh, commissioned as India's first private-sector hydro IPP, began delivering power to the national grid by the mid-2000s, generating approximately 1,300 million units annually and demonstrating the advantages of private execution in accelerating project timelines compared to public sector hydropower initiatives plagued by bureaucratic hurdles. Concurrently, plans for thermal and wind power generation were advanced through subsidiaries, aligning with national energy needs amid industrial growth. Real estate emerged as a pivotal diversification avenue, leveraging land banks acquired from infrastructure concessions. In 2000, Jaypee Greens in Greater Noida was launched as the group's inaugural golf-centric residential project, marking entry into integrated townships amid urban expansion in the National Capital Region. This was bolstered by high-profile infrastructure awards, including the Yamuna Expressway concession granted by the Uttar Pradesh government in the early 2000s, which provided extensive land parcels for real estate development alongside the 165 km toll road project. By the late 2000s, these assets underpinned ventures like the Buddh International Circuit, with construction commencing in 2007 to host Formula One racing, further intertwining realty with sports infrastructure to attract investment during the era's private-sector-led boom.

Peak Operations and Challenges (2010s)

During the early 2010s, Jaypee Group achieved operational peaks through the successful commissioning of several flagship infrastructure projects. The 1,000 MW Karcham Wangtoo Hydro-Electric Project in Himachal Pradesh marked a significant milestone, with its first 250 MW unit synchronized to the grid on May 26, 2011, followed by subsequent units, achieving full commercial operation ahead of the original November 2011 schedule. This project, developed by subsidiary Jaypee Karcham Hydro Corporation, underscored the group's expertise in hydropower, generating substantial power for sale to northern grids under long-term agreements. Concurrently, real estate operations expanded with launches such as Knight's Court villas in Jaypee Greens Wish Town, Noida, in May 2010, targeting premium segments amid strong pre-sales in the integrated township model. The Yamuna Expressway, a 165 km six-lane highway connecting Noida to Agra, represented another high point, inaugurated on August 9, 2012, two years ahead of its scheduled completion despite a Rs 12,000 crore investment. Developed by Jaypee Infratech, it integrated toll revenues with ancillary real estate development along the corridor, boosting connectivity and enabling further township expansions like Wish Town, which encompassed residential plots and housing units totaling millions of square feet. These achievements reflected the group's aggressive diversification, with hydropower capacity additions and expressway operations contributing to revenue growth from infrastructure assets. However, initial stress points emerged mid-decade due to execution overload from concurrent mega-projects across hydropower, highways, and real estate, leading to delays in non-core completions. Post-2008 global financial crisis recovery saw the Reserve Bank of India raise policy rates—repo rate climbing from 4.75% in early 2010 to 8.5% by mid-2011—to curb inflation, elevating borrowing costs for debt-heavy firms like Jaypee, whose leverage had ballooned to fund parallel expansions without adequate interest rate hedges. By 2013, these pressures manifested in strained profitability and early signs of overextension, as high debt servicing amid rising rates and project bottlenecks eroded margins, though full insolvency loomed later. This over-reliance on unhedged debt during a high-growth phase amplified vulnerabilities to macroeconomic shifts, highlighting causal risks in simultaneous large-scale executions without diversified financing buffers.

Financial Evolution

Revenue Growth and Expansion Funding

During India's infrastructure boom in the 2000s, Jaypee Group's revenue grew substantially through execution of hydropower, cement, and highway projects. The conglomerate reported a 35% increase in sales for the first nine months of fiscal year 2009, fueled by heightened demand for engineering and construction services. By fiscal year 2011-12, the group's consolidated turnover exceeded ₹20,000 crore, reflecting diversification into real estate and power alongside core infrastructure activities. This ascent was supported by projected 74% sales growth for fiscal year 2009 over the prior year, led by engineering, cement, and real estate segments. Expansion capital expenditures were financed primarily via domestic bank loans and external commercial borrowings (ECBs). Bank consortia provided funding for key initiatives, such as partial financing of the ₹9,739 crore Yamuna Expressway project with approximately ₹3,211 crore allocated in fiscal year 2010-11. ECBs supplemented this, including a US$25 million facility arranged by ICICI Bank in 2006-07 as lead arranger to support overseas-linked project needs. These mechanisms enabled scaling of operations amid government emphasis on public-private partnerships for infrastructure. Key enablers included securing competitive bids for government-backed projects, such as contributions to major dams, which provided steady revenue streams during the period's high infra demand. Vertical integration—spanning cement production, equipment manufacturing, and construction—facilitated cost-effective execution, contributing to profitability amid sector-wide expansion.

Debt Management and Over-Leveraging

The Jaypee Group's debt accumulation accelerated in the mid-2000s amid rapid diversification into infrastructure, power, and real estate, reaching approximately ₹11,000 crore by 2008 before escalating to over ₹75,000 crore at the group level by 2016. This surge stemmed from financing multiple large-scale projects concurrently, including hydropower plants like the 3,000 MW Karcham Wangtoo facility and the Yamuna Expressway, which required substantial upfront capital amid India's infrastructure boom. Such expansions in cyclical sectors—prone to demand fluctuations and regulatory shifts—amplified leverage without proportional equity infusion, as evidenced by the group's net debt exceeding ₹97,000 crore for key entities like Jaiprakash Associates and Jaypee Power Ventures by March 2014. A structural vulnerability arose from maturity mismatches, where short-term instruments like commercial paper and bank loans funded long-gestation assets such as dams and highways, which generate returns over decades. Indian infrastructure firms, including Jaypee, commonly faced this issue, as banks' short-term liabilities constrained long-term lending, forcing reliance on refinancing cycles that proved precarious when credit conditions tightened post-2008 global financial crisis. By March 2015, group debt hit ₹85,726 crore, underscoring how unhedged exposure to interest rate volatility and sector-specific delays exacerbated rollover pressures. From a causal standpoint, the pursuit of scale in boom-era India—where GDP growth averaged 8% annually from 2004-2008—tolerated high debt-to-equity ratios, but inherent risks materialized as sectors encountered overcapacity in power and stalled project awards after 2011. Empirical patterns in leveraged expansions show that without buffers like diversified revenue streams or conservative gearing, downturns convert performing loans into stressed assets, as seen in Jaypee's rising delinquencies by 2014-2016. This over-leveraging, while rational in high-growth phases, exposed the group to liquidity strains when external financing dried up, highlighting the perils of debt-fueled simultaneity in capital-heavy industries.

Insolvency and Resolution Efforts

Jaypee Infratech Limited (JIL), a key subsidiary handling real estate and expressway projects, entered the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC) on August 9, 2017, following a petition by an operational creditor, with the National Company Law Tribunal (NCLT) admitting the case due to mounting defaults on dues exceeding ₹4,300 crore to IDBI Bank and others. The process involved multiple bidding rounds amid challenges, including Supreme Court directives for fresh auctions in March 2021 between shortlisted bidders NBCC and Suraksha Realty, prioritizing creditor recovery over promoter-led infusions as mandated by IBC's creditor-in-control framework. The Committee of Creditors (CoC), dominated by banks holding over 95% voting share, approved Suraksha Realty's revised plan with 98.66% votes in the fourth bidding round, emphasizing asset monetization and operational continuity. NCLT Allahabad Bench approved Suraksha's resolution plan for JIL on March 7, 2023, valuing the payout at approximately ₹10,500 crore against admitted claims of over ₹38,000 crore, marking the end of a protracted six-year CIRP focused on maximizing value through asset sales like land banks rather than promoter equity infusions, which were subordinated under IBC provisions. Implementation has proceeded under an oversight committee, with Suraksha assuming control to restructure operations, though delays in execution highlighted CoC's emphasis on verifiable recovery mechanisms over optimistic promoter proposals. Jaiprakash Associates Limited (JAL), the flagship entity with diversified assets in cement, power, and construction, faced CIRP admission by NCLT Allahabad on June 3, 2024, on ICICI Bank's petition for defaults totaling over ₹20,000 crore, rejecting JAL's defenses of disputed claims and ongoing settlements in favor of IBC's strict default triggers. The National Company Law Appellate Tribunal (NCLAT) upheld this on December 6, 2024, dismissing JAL's appeal and affirming creditor primacy, which precluded promoter-led resolutions without CoC approval. By June 2025, JAL's CoC received five expression of interest bids for full acquisition, including from Adani Group, Vedanta, and Jindal Power, targeting cement and power assets amid efforts to avoid liquidation through competitive bidding. CoC deliberations for JAL have centered on evaluating conditional versus unconditional bids, with revised plans submitted by August 2025 from shortlisted players like Adani, Dalmia Cement, and PNC Infratech, while rejecting affiliated entity Jaypee Infratech's acquisition proposal in July 2025 due to insufficient recovery assurances. Potential asset carve-outs, such as cement unit sales, have been explored to enhance value, but CoC dynamics prioritize holistic resolution plans compliant with IBC timelines, subordinating promoter equity offers to creditor-voted outcomes amid ongoing Competition Commission of India approvals for bidder combinations.

Controversies and Criticisms

Real Estate Delivery Failures

The Wish Town project in Noida, developed by Jaypee Infratech Limited, experienced prolonged delivery delays affecting more than 17,000 residential units, with homebuyers booking plots and apartments since the early 2010s but facing indefinite postponements due to stalled construction. Buyers reported paying upfront amounts totaling around Rs 10,000 crore, which they claimed were diverted by the group to fund infrastructure ventures like the Yamuna Expressway rather than completing housing commitments. This allegation was echoed in forensic audits and court filings, highlighting inter-project fund transfers that prioritized expressway and other non-residential obligations over real estate obligations. The Uttar Pradesh Real Estate Regulatory Authority (RERA) registered multiple complaints against Jaypee Infratech for non-delivery, leading to interventions such as registration renewals for seven stalled projects in February 2025 to enforce compliance and protect buyer interests. Homebuyers, organized in associations, argued that these delays stemmed from systemic mismanagement and overcommitment to debt-fueled infrastructure, resulting in personal financial losses including loan interest and rental expenses over a decade. In response, Jaypee Group representatives in earlier statements pointed to external factors like economic slowdowns and regulatory hurdles in land acquisition as contributing to liquidity constraints, though these defenses were contested by regulators and buyers as insufficient given the scale of pre-collected funds. Protests escalated into 2025, with hundreds of affected homebuyers demonstrating outside project offices in April, breaching barricades and sustaining minor injuries while demanding possession timelines and accountability for diverted resources. Enforcement Directorate raids in May 2025 uncovered evidence of potential fraud involving Rs 12,000 crore in homebuyer and investor funds, including siphoning allegations that reinforced claims of causal links between real estate shortfalls and infrastructure overextension. Despite the project's ambitious scope—encompassing affordable and mid-income housing for tens of thousands in a planned township—the persistent delays underscored tensions between the group's diversified ambitions and execution failures, leaving buyers in protracted uncertainty. The Yamuna Expressway Industrial Development Authority issued a notice in August 2025 citing stalled construction and fund mismanagement as primary violations.

Creditor Disputes and Defaults

The Jaypee Group's flagship entity, Jaiprakash Associates Ltd (JAL), defaulted on loans totaling ₹4,616 crore as of May 7, 2024, amid ongoing restructuring efforts, with aggregate liabilities including interest amounting to ₹29,805 crore. Earlier, on November 6, 2023, JAL reported defaults on ₹4,258 crore in loans, reflecting persistent liquidity strains across the group's diversified operations in cement, power, and real estate. These defaults formed part of broader group-wide obligations exceeding ₹50,000 crore historically, prompting coordinated responses from lender consortia led by public sector banks like State Bank of India and IDBI Bank. Lenders initiated recovery through invocation of personal and corporate guarantees, as well as enforcement of hypothecated assets, leading to disputes over the validity and priority of such securities. In the case of subsidiary Jaypee Infratech Ltd (JIL), the Supreme Court ruled in 2020 that mortgages created by JIL to secure JAL's debts constituted preferential transactions under the Insolvency and Bankruptcy Code (IBC), favoring the parent entity as a related party and undermining creditor equality. Further contention arose from deeds of hypothecation, where recent Supreme Court interpretations (as in the 2025 China Development Bank ruling) affirmed that clauses obligating security providers to cover shortfalls qualify as guarantees, thereby classifying holders as financial creditors eligible for claims in insolvency proceedings. By March 2025, JAL's lender consortium transferred outstanding debts to the National Asset Reconstruction Company Ltd (NARCL) for resolution, signaling a shift from negotiations to asset reconstruction amid stalled repayments. The group countered lender actions by challenging insolvency admissions and proposing settlements, such as a 2019 offer by JIL's promoters to clear ₹10,000 crore in dues through asset infusions and equity swaps, which failed to gain traction due to disputes over project viability and recovery timelines. Bankers attributed defaults to promoter over-leveraging and mismanagement, evidenced by repeated breaches post-restructuring, as IDBI Bank argued in 2017 Supreme Court filings that JIL had reverted to favoring promoters despite prior moratoriums. Promoters, in turn, invoked external factors like policy shifts and execution delays as impairing cash flows, though courts prioritized contractual defaults in rejecting appeals, such as NCLAT's dismissal of JAL's challenge to its June 3, 2024, CIRP admission on December 6, 2024. These negotiations underscored tensions over asset hypothecation enforceability, with lenders securing subrogation rights limited post-resolution plan approvals under IBC Section 30(2)(e).

Regulatory Interventions and Legal Battles

In August 2017, the National Company Law Tribunal (NCLT) Allahabad Bench admitted an insolvency petition against Jaypee Infratech Limited (JIL), a key subsidiary of the Jaypee Group, filed by IDBI Bank due to defaults exceeding Rs 526 crore, initiating the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC), 2016. This admission imposed a moratorium on asset sales and litigation, aiming to facilitate creditor-led resolution while preserving the company as a going concern, though subsequent appeals protracted the process for over six years. The Supreme Court intervened in November 2017 by barring Jaypee Group's promoters and directors from selling or alienating personal assets, a measure intended to prevent potential evasion of group liabilities amid mounting creditor claims totaling over Rs 10,000 crore against JIL, but which critics argued extended regulatory overreach by blurring corporate and personal veils without direct evidence of commingling. This order, upheld amid ongoing CIRP, reflected judicial caution against promoter self-dealing but empirically contributed to liquidity constraints, as promoters could not leverage personal holdings to inject funds or settle debts, potentially delaying resolutions by limiting informal restructuring options outside IBC timelines. Further regulatory actions included the NCLT's admission of Jaiprakash Associates Limited (JAL), the Group's flagship entity, into CIRP on June 3, 2024, following creditor petitions over defaults aggregating Rs 57,185 crore, triggering another moratorium and resolution efforts. Legal battles yielded mixed outcomes, such as the Supreme Court's 2018 directive remanding JIL's CIRP back to NCLT for fresh bidding after overturning an initial resolution plan, prioritizing homebuyer claims as financial creditors but extending timelines and operational uncertainties. Notably, courts permitted continuation of critical operations like the Yamuna Expressway under JIL's resolution professional, recognizing its essential infrastructure status and avoiding economic disruption despite insolvency, which enabled toll collections exceeding Rs 1,000 crore annually to support creditor recoveries. These interventions, while enabling structured resolutions under IBC—evidenced by eventual approvals like Suraksha Group's modified plan for JIL in 2021—have been causally linked to delays from protracted litigation, with appeals to NCLAT and Supreme Court multiplying procedural hurdles and eroding asset values through frozen operations and legal costs, underscoring tensions between creditor protections and efficient market-driven outcomes. Empirical data from similar cases indicates that such judicial extensions beyond 330-day CIRP limits often reduce recovery rates by 20-30%, as assets depreciate without active management.

Recent Developments

Insolvency Proceedings for Key Entities

Jaiprakash Associates Limited (JAL), the flagship entity of the Jaypee Group, remains under the Corporate Insolvency Resolution Process (CIRP) as admitted by the National Company Law Tribunal (NCLT) Allahabad Bench. Outstanding loans stood at ₹55,409.28 crore as of March 11, 2025. The Committee of Creditors (CoC) approved the provisional list of claims in September 2025, securing 89% voting approval during the process. Creditor claims submitted to JAL up to April 24, 2025, underwent verification concluding on August 15, 2025, with details published on the company's official CIRP portal. The 22nd CoC meeting for JAL convened on October 15, 2025, to deliberate ongoing resolution matters. On November 19, 2025, the Committee of Creditors approved Adani Enterprises' resolution plan for Jaiprakash Associates Limited, valued at approximately ₹14,535 crore ($1.53 billion), which includes the highest upfront payment among competing bids. Adani Enterprises received a Letter of Intent following the approval. The plan is pending final approval from the National Company Law Tribunal (NCLT). In parallel, Bhilai Jaypee Cement Limited, a joint venture involving Jaypee Group interests, faced initiation of CIRP by the NCLT Cuttack Bench on October 15, 2025. This followed admission of an application citing an operational debt default of ₹45.40 crore related to coal linkage payments. The order imposes a moratorium on assets and appoints an interim resolution professional to manage creditor claims and processes.

Bidding and Acquisition Attempts

In 2025, Jaiprakash Associates Limited (JAL), a core entity of the Jaypee Group facing insolvency with liabilities exceeding ₹55,000 crore, attracted competitive resolution bids from major Indian conglomerates, underscoring the underlying value of its cement, power, and infrastructure assets despite heavy debt burdens. By June 2025, six firms had submitted plans approved by the Competition Commission of India (CCI), including the Adani Group, Vedanta Limited, Jindal Steel & Power, Dalmia Bharat, PNC Infratech, and Suraksha Group. Bidders revised their offers in August 2025 amid concerns over land titles and asset quality, with interest primarily targeting JAL's cement plants and power generation capacities for synergies in materials and energy sectors. A challenge auction in September 2025 saw Vedanta emerge as the highest bidder with a ₹17,000 crore offer, equivalent to a net present value of approximately ₹12,510 crore, outpacing the Adani Group's competing bid. Other contenders like Jindal Steel & Power and Dalmia Bharat also advanced to final stages, reflecting strategic pursuits of JAL's operational assets such as captive power plants and cement grinding units to bolster their portfolios. The CCI granted approval for Vedanta's acquisition on October 14, 2025, with the bidder subsequently seeking funding from global hedge funds and lenders to execute the deal. The intense bidding competition signals robust market confidence in JAL's recoverable value, potentially enabling revival through integration with acquirers possessing stronger balance sheets and operational expertise in related industries, though final implementation remains subject to creditor committee approval and regulatory clearances.

Ongoing Project Revivals and Homebuyer Resolutions

In May 2025, the Yamuna Expressway Industrial Development Authority (YEIDA) announced it would allocate its own funds to complete 12 stalled group housing projects initiated by Jaiprakash Associates Limited (JAL), a core Jaypee Group company, affecting more than 4,500 homebuyers along the Yamuna Expressway. This intervention, backed by Allahabad High Court directives, includes establishing a committee for oversight and an online portal for homebuyers to register claims, alongside a "zero period" policy waiving interest during revival. YEIDA subsequently ordered a comprehensive audit in June 2025 to evaluate construction status and financial gaps in these projects. For Jaypee Wish Town under Jaypee Infratech Limited (JIL), now managed by Suraksha Group following its acquisition, revised possession timelines extend to December 2028 for multiple towers, including Pebble Court, Kosmos, Klassic, Kasa Isles, and Kensington Boulevard, with earlier deadlines starting from June 2026. Suraksha committed ₹5,500 crore in infusions over three years to finish around 20,000 units across 159 towers, having already disbursed ₹400 crore in FY25 and targeting an additional ₹2,500 crore, with plans for 3,800 flat deliveries in the same fiscal year through ramped-up manpower and site reactivation. Homebuyers expressed frustration through protests, such as the April 10, 2025, gathering in Noida against persistent construction halts post-Suraksha takeover, highlighting demands for immediate work resumption and resolution of disputed performance bank guarantees and interest accruals. Suraksha responded with pledges for monthly status reports and construction restarts, though YEIDA issued notices in August 2025 over delays, seeking clarifications on 14 compliance points. Partial progress includes selective possessions eyed for FY26, contingent on recovering ₹1,200 crore in receivables and navigating ongoing National Company Law Tribunal hearings.

References

  1. [1]
    History - Jaypee Group
    Jaiprakash Gaur, Founder Chairman of Jaypee Group, after acquiring a Diploma in Civil Engineering in 1950 from the University of Roorkee now (IIT Roorkee) ...
  2. [2]
    Jaiprakash Associates Limited Consumer Goods
    Jaiprakash Associates Limited is an Indian infrastructure development company that was founded in 1979 by Jaiprakash Gaur. The company is headquartered in ...
  3. [3]
    Profile - Jaypee Group
    The Group is a diversified infrastructure conglomerate with business interests in Engineering & Construction, Cement, Power, Real Estate, Expressways, ...Missing: controversies | Show results with:controversies
  4. [4]
    In-Depth SWOT Analysis Of Jaypee Group - 2025 - IIDE
    Rating 9.9/10 (103,837) Aug 9, 2025 · The engineering and construction company for the Yamuna Expressway was the Jaypee Group. The famous tallest Tehri Dam, located on the Bhagirathi ...Missing: notable | Show results with:notable
  5. [5]
    Projects Under Execution - Jaypee Group
    Sardar Sarovar Project, Gujarat. Alimineti Madhav Reddy Project, Telangana. Punatsangchhu-II Hydroelectric Project, Bhutan. Mangdechhu Hydroelectric Project ...
  6. [6]
    Work History - Jaypee Group
    Jaypee Group's work includes concrete and earthen dams, EPC projects like Baghdad Sewerage, and projects like the 165 Km Expressway connecting Noida to Agra.Missing: notable | Show results with:notable
  7. [7]
    Jaypee Group Striving for Excellence - NBM&CW
    Jul 10, 2009 · It has the distinction of participating in 54% of hydropower projects in India. Sharing Group's enabling milieu created to translate its vision ...Missing: notable | Show results with:notable
  8. [8]
    Jaypee Group's Rs61,285 crore debt problem - Mint
    Aug 3, 2015 · Manoj Gaur, executive chairman of the Jaypee Group, has sold a fifth of his group's assets in the past year—all to pare debt.
  9. [9]
    How Jaypee Infratech's stalled construction projects left homebuyers ...
    Apr 23, 2024 · These procedures were subsequently put on hold when Jaypee was referred to the insolvency court. According to its annual report for 2015-2016, ...
  10. [10]
    Insolvency proceedings ordered against Jaiprakash Associates
    Jun 4, 2024 · Jaiprakash Associates Ltd (JAL) is undergoing insolvency proceedings, and a resolution professional appointed by the NCLT will now take over.
  11. [11]
    https://realty.economictimes.indiatimes.com/news/cement/nclt-orders-insolvency-proceedings-against-bhilai-jaypee-cement/124751976
  12. [12]
    Jaypee Group
    The Group is a diversified infrastructure conglomerate with business interests in Engineering & Construction, Cement, Power, Real Estate, Expressways, ...CIRPContactJob OpeningsSubsidariesProfile
  13. [13]
    Jaiprakash Associates Ltd Directors Report - India Infoline
    Jaypee Cement Corporation Limited (Subsidiary) - South Zone- Jaypee Shahbad Cement Plant ... -. Jaiprakash Power Ventures Limited (Associate) - Jaypee ...
  14. [14]
    Subsidiaries - Jaypee Group
    East India Energy Private Limited (a wholly owned subsidiary of Jaiprakash Associates Limited) was incorporated on 29th December, 2022 as a Special Purpose ...
  15. [15]
    Businesses | Cement-Geographical Spread - Jaypee Group
    Jaypee Group is the 3rd largest cement producer in the country. The group produces special blend of Portland Pozzolana Cement under the brand name 'Jaypee ...
  16. [16]
    Ultratech buys cement plants as Jaypee divestments continue
    Jan 28, 2015 · However it says it remains India's third largest cement producer, with a capacity of 22 million tonnes per year. Is largest previous cement ...<|separator|>
  17. [17]
    Jaypee Group
    Jaypee Group is the 3rd largest cement producer in India. The Group ... The Group is constructing 165 km long 6 lane Yamuna Expressway project from ...Missing: notable dams
  18. [18]
    jaypee university anoopshahr, up, india
    Shri Jaiprakash Gaur, the Founder Chairman of the Jaypee Group was born in 1931 in a small village named Chitta (Bulandshahar) in Uttar Pradesh.<|separator|>
  19. [19]
    Jaiprakash Gaur - Forbes
    Gaur got his start working as a junior engineer for the government. He eventually cofounded, and built $3 billion (revenues) Jaypee Group, now India's largest ...
  20. [20]
    Jaiprakash Associates Ltd: Executives - GlobalData
    Mr. Manoj Gaur has been the Chairman and Chief Executive Officer of the company since 1985. He also serves as the Chairman and Managing Director of Jaypee ...
  21. [21]
    Jaypee Group CEO and Key Executive Team - Craft.co
    Jaypee Group's Director, Founder is Jaiprakash Gaur. Other executives include Manoj Gaur, Executive Chairman & CEO; Sunil Kumar Sharma, Director, ...
  22. [22]
    Jaiprakash Associates Ltd. - Moneycontrol
    Manoj Gaur, Executive Chairman & CEO ; Pankaj Gaur, Managing Director ; Narinder K Grover, Independent Director ; Krishna M Singh, Independent Director ; Pramod K ...<|separator|>
  23. [23]
    Jaiprakash Gaur: Net Worth & Biography - Goodreturns
    $$1.40Jaiprakash Gaur is an Indian entrepreneur, the founder, and former chairman of the Jaypee Group, known for his significant contributions to engineering, ...
  24. [24]
    Management - Jaypee Group
    Board of Directors · Shri Jaiprakash Gaur, Director (Founder of Jaypee Group) · Shri Manoj Gaur, Executive Chairman & CEO · Shri Sunil Kumar Sharma, Director (Vice ...Missing: composition | Show results with:composition
  25. [25]
    http://jalindia.com/management.html
  26. [26]
    Samir Gaur, Sunny and Manoj Gaur's third brother, had also left the ...
    Jul 5, 2020 · Samir Gaur, Sunny and Manoj Gaur's third brother, had also left the family empire a few years ago. Between them, the promoters hold close to 39% ...Missing: composition | Show results with:composition
  27. [27]
    Corporate Governance - Jaypee Group
    The principles on which the good corporate governance is based are simple principles of fairness, transparency and accountability.Missing: risk | Show results with:risk
  28. [28]
    Jaypee Group at a Glance - Noida - JIIT
    The Group is a diversified infrastructure conglomerate with business interest in Engineering & Construction, Cement, Power, Real Estate, Expressways, Sports and ...
  29. [29]
    Engineering & Construction - Jaypee Group
    Expressway Construction. Real Estate Development. Proud to Participate in:- Largest concrete Dam in India – Sardar Sarovar Dam. Largest Rockfill Dam in India – ...Missing: expertise tunneling
  30. [30]
    Facts and Figures - Jaypee Group
    Only E & C Company in India with the capacity to execute EPC contracts on its own strength from concept to completion. Has won three out of the five EPC ...Missing: expertise | Show results with:expertise
  31. [31]
    Group Profile – JP Power Ventures
    The in-house Design and Consultancy Company, Jaypee Infra Ventures (JIV), gives JAL a competitive edge over its rivals and has been awarded “CT1” grade by ...<|separator|>
  32. [32]
    Jaiprakash Associates Ltd - Aditya Birla Money
    Jaiprakash Associates Limited, a part of the Jaypee Group was incorporated in November, 1995 under the name Bela Cement Limited. The Company was promoted by ...
  33. [33]
    Jaypee Rewa Cement Plant
    The Jaypee Rewa plant is the Jaypee Group's main cement production unit. The plant has a production capacity of 3.0 mtpy.
  34. [34]
    Jaypee Group | Home
    Jaiprakash Associates Limited is the flagship company of Jaypee Group & is the third largest cement producer in the country. Its cement division currently ...
  35. [35]
    [PDF] Bhilai Jaypee Cement Ltd
    Bhilai Jaypee Cement Limited is a Joint Venture of Jaiprakash Associates Limited and Steel Authority of India. Limited. This has two Split Location Plants ...
  36. [36]
    Cement - Jaypee Group
    ... Bhilai Jaypee Cement Limited, Bhilai, Chattisgarh (Joint Venture with SAIL) ... Developed & Maintained by JIL Information Technology Ltd. Copyright ...
  37. [37]
    Power plant profile: Vishnuprayag, India - Power Technology
    Oct 21, 2024 · Vishnuprayag is a 400MW hydro power project. It is located on Alakhnanda / Ganga river/basin in Uttarakhand, India. According to GlobalData ...Missing: Group | Show results with:Group
  38. [38]
    JP Power Ventures – We plan, develop, implement and operate ...
    JPVL operates 400 MW Vishnuprayag. 300 MW Baspa–II HEP is accredited for 1 million VER's per annum and 400 MW Vishnuprayag HEP , the World's largest Hydropower ...Missing: assets capacity
  39. [39]
    Power plant profile: Nigrie Thermal Power Plant, India
    Nov 11, 2024 · Total Capacity (MW), 1320. Active Capacity (MW), 1320. Pipeline Capacity ... Through Jaypee Powergrid Limited, it also transmits power to ...Missing: Group | Show results with:Group
  40. [40]
    Jaypee Nigrie Super Thermal Power Project - GEM.wiki
    Jul 22, 2025 · The Jaypee Nigrie Super Thermal Power Project is an operating 1320 MW power station in Nigri, India, with two 660 MW units using lignite coal.Missing: Vishnuprayag | Show results with:Vishnuprayag
  41. [41]
    Initiatives - Jaypee Group
    All the three projects are run - of - the - river projects, that help conserve the biodiversity and ecological balance without any harm done to the flora or the ...
  42. [42]
    Jaiprakash Power Ventures Ltd Directors Report | India Infoline
    (iii) 1320 MW Jaypee Nigrie Supercritical Thermal Power Plant (JNSTPP) in Distt. ... Jaypee Vishnuprayag Hydro Power Plant (400 MW), 99.32, 52.18, 1,589.17.<|separator|>
  43. [43]
    Businesses-Integrated Township - Jaypee Group
    India's first 'Wish Town' at Jaypee Greens, Noida has been developed as a diverse, progressive community spread over 1162 acres and combines sophisticated ...
  44. [44]
    Jaypee Greens Properties Noida: Book Residential, Commercial ...
    Jaypee Greens properties in Noida – Find Flats on Noida Expressway and all residential Commercial Projects, Resale Properties, Rent/Lease Jaypee Greens ...
  45. [45]
    Book 5 Star Hotel Near IGI Terminal 3 & Domestic Airport Delhi
    Rating 5.0 (12,556) Jaypee Vasant Continental is 8km from the Domestic Airport and 12km from IGI Terminal 3, offering 119 rooms, modern amenities, and a luxurious stay.
  46. [46]
    Businesses-Hospitality - Jaypee Group
    Jaypee Hotels has five luxury properties, including Jaypee Greens Golf & Spa Resort, Jaypee Vasant Continental, Jaypee Palace Hotel, and Jaypee Residency Manor.
  47. [47]
    Jaypee Group of Five Star Hotels and Resorts in India
    Experience luxury like never before at Jaypee Hotels & Resorts. Jaypee 5-Star Luxury Hotels and Resorts in Delhi & Noida are an abode of superlative comfort ...
  48. [48]
    Will F1 Be Jaypee Group's Magic Formula? - Forbes
    Nov 7, 2011 · 2,500 acres were acquired for this from the UP government, earlier earmarked for an SEZ; 60% of the land could be used for real estate ...
  49. [49]
    Businesses-Sports - Jaypee Group
    Jaypee Sports includes the Buddh International Race Circuit, a cricket stadium, a hockey arena, a sports training academy, and infrastructure for other sports.
  50. [50]
    Buddh International Circuit - RacingCircuits.info
    The first circuit to bring international motorsport to India, bursting onto the scene as the host of the Formula One Indian Grand Prix in 2011.
  51. [51]
    Buddh International Circuit | IndiaMotoGP.com
    Rating 4.9 (89,442) The Buddh International Circuit (BIC) in Greater Noida, India, opened in 2011, is 5.14km long with 16 turns, and hosted the first Indian MotoGP in 2023.
  52. [52]
    MotoGP Bharat 2023 is here, but why did Buddh International Circuit ...
    Sep 23, 2023 · The financial conundrum left the Jaypee Group unable to recoup its substantial investment of nearly $450 million, pay fees to Formula 1, and ...
  53. [53]
    Hydro Power - Jaypee Group
    The project are 270 MW Umngot HEP in the East Khasi Hills district and 450 MW Kynshi (Stage –II) HEP in the West Khasi Hills district of Meghalaya. The projects ...
  54. [54]
    BASPA II - JSW Group
    The project was fully commissioned on 8th June, 2003 and has since been generating power. The project is located on the river Baspa, a tributary of river Satluj ...Missing: Jaypee | Show results with:Jaypee
  55. [55]
    [PDF] commission - Jaiprakash Power Ventures Limited
    COMMISSION, SHIMLA. Petition No. : 338/2005. In the Matter of: Determination of the Capital Cost and Tariffs for 300 MW Baspa II Hydro Power. Plant for the ...Missing: Jaypee | Show results with:Jaypee<|separator|>
  56. [56]
    Karcham Wangtoo Hydroelectric Plant - Wikipedia
    In 2015, Jaypee Group sold out Karcham Wangtoo Project to JSW Group. In May 2011, the first generator was commissioned, the second in June and the final ...
  57. [57]
    Karcham Wangtoo Hydro Electric Plant (4x250MW)
    Karcham Wangtoo Hydro Electric Plant (4x250MW). Mandatory Discharge for Environment : 7.38 cumec 1000 MW Karcham-Wangtoo Hydropower Project, Himachal Pradesh
  58. [58]
    Karchham-Wangtoo hydel project, HP, India - Ej Atlas
    The Karcham Wangtoo Hydroelectric Plant is a 1200MW run-of-the-river hydroelectric power station on the Sutlej River in Kinnaur district of Himachal Pradesh.
  59. [59]
    1000 MW Karcham Wangtoo hydro electric project to be ...
    Jul 5, 2011 · The other main components are a 10.48m diameter, 17.2-km long headrace tunnel; 4.75m diameter four pressure shafts; an underground power-house ...
  60. [60]
    Project Commissioned - Jaypee Group
    HYDROPOWER PROJECTS COMMISSIONED BY THE JAYPEE GROUP BETWEEN 2002 and 2011 ; 6, Baglihar, - ; CONTRACTS WITH VARIOUS GOVERNMENT AGENCIES ; 7, Indira Sagar (Dam & ...
  61. [61]
    The Baglihar dispute - International Water Power
    Aug 16, 2006 · Located on river Chenab in the north Indian State of Jammu & Kashmir, Baglihar hydroelectric project is based on a 144.5m high concrete gravity ...
  62. [62]
    Hydropower – JP Power Ventures
    With a head of 915m, the Vishnuprayag power house has the highest operating head. World's best equipments like Pelton Impulse turbo-generators are installed to ...
  63. [63]
    http://www.jppowerventures.com/group-profile/
  64. [64]
    Businesses-Expressway - Jaypee Group
    The Group has entered into construction of expressways with the Yamuna Expressway project – a 165 km access controlled 6 lane super expressway along the Yamuna ...Missing: transportation | Show results with:transportation
  65. [65]
    Yamuna Expressway Project - YEIDA's
    The 165 Km long Yamuna Expressway has been developed by the Jaypee Group under Public-Private – Partnership. The Concession Agreement between TEA and JIL ...Missing: features | Show results with:features
  66. [66]
    Yamuna Expressway - YEIDA's
    A 6-lane wide (expandable to 8) and 165.5 km long access-controlled expressway, connecting Pari Chowk in Greater Noida with Kuberpur on NH-2 in Agra
  67. [67]
    Businesses-Civil Engineering - Jaypee Group
    ... JAYPEE Group, along Yamuna river connecting Noida and Agra. SALIENT TECHNICAL FEATURES. Type. Concrete Paved. Length. 165.537 Km. Right of Way (ROW). 100 m.Missing: details | Show results with:details
  68. [68]
    Yamuna Expressway - Jaypee Infratech Ltd
    To provide expressway access to local commuters, 13 service roads with total length of 168 kilometres are planned to be constructed concurrently with the ...Missing: transportation | Show results with:transportation
  69. [69]
    [PDF] Pradesh
    Apr 26, 2023 · The Yamuna Expressway has reduced the travel time between Delhi and Agra to two to two and a half hours. The Expressway was designed with.
  70. [70]
    Jaypee Group to form a `ring' around Agra | Lucknow News
    Oct 13, 2009 · The massive almost Rs 1,100 crore project has been given to the company, which plans to construct the road from National Highway 2 near Kuberpur ...
  71. [71]
    Why Jaypee invested $400 million race when the project will make ...
    Sep 22, 2011 · Jaypee will also spend $15-20 million in operational costs—track and event management, logistics, and transport. That's a total operating cost ...
  72. [72]
    At India's F1 Track, a $400 Million Bet - CNBC
    Oct 18, 2011 · Nearly 100,000 people are expected to flock to the newly built Buddh International Circuit racetrack when it hosts the Formula One Grand Prix ...Missing: capacity impact
  73. [73]
    Buddh International Circuit's History - F1 BLAST
    May 16, 2024 · The circuit was designed by German engineer Hermann Tilke. Its design incorporated feedback from F1 teams to maximize overtaking opportunities.Missing: confirmation | Show results with:confirmation
  74. [74]
    Designer Tilke says India will be ready - Nextgen-Auto.com
    Oct 3, 2011 · The designer of India's new Buddh circuit insists the venue will be ready for its inaugural race late this month. Hermann Tilke was talking ...
  75. [75]
    Buddh International Circuit - India's answer to the most challenging ...
    Sep 25, 2014 · The 5.14 km long circuit has been designed by world-renowned German architect and racetrack designer, Hermann Tilke. Follow us on whatsapp. The ...<|separator|>
  76. [76]
    Buddh International Circuit: A Project Management Overview - Scribd
    It includes an introduction to the circuit and its design. The project scope is to bring Formula 1 racing to India to increase tourism and employment.
  77. [77]
    JAIPRAKASH ASSOCIATES PRIVATE LIMITED | ZaubaCorp
    Jun 23, 2024 · JAIPRAKASH ASSOCIATES PRIVATE LIMITED (CIN: U29221UP1979PTC004740) is a Private company incorporated on 31 Dec 1979. It is classified as Non-government company.
  78. [78]
    [PDF] jaiprakash - associates limited - Jaypee Group
    In addition, the Company by itself through its subsidiaries, is also diversifying into other areas including thermal power generation, wind power generation, ...
  79. [79]
    [PDF] Jaypee Group
    Jaypee Group's engineering and construction focuses on multi-purpose river valley and hydropower projects, and they have constructed 165 km of Yamuna  ...Missing: notable dams
  80. [80]
    How the Grand Prix came to India - कारवां - The Caravan
    Oct 31, 2011 · For Jaypee, the road to Formula 1 began more than four years earlier, in January 2003, when the company was awarded a contract by the UP ...<|control11|><|separator|>
  81. [81]
    History of the Buddh International Circuit. How India got its first F1 ...
    Jul 27, 2020 · Construction work for the Buddh International Circuit (BIC) began in October 2009 and the Jaypee Group had a strict deadline to build the whole ...
  82. [82]
    Karcham Wangtoo Hydroelectric Project India - GEO
    Jul 25, 2011 · It has 4 unit(s). The first unit was commissioned in 2011 and the last in 2011. It is operated by Jaypee Karcham Hydro Corporation Ltd, (JKHCL).
  83. [83]
    'Jaypee Greens' launches 'Knight's Court' at India's First Wish Town ...
    May 31, 2010 · “Jaypee Greens” has launched a super premium product “Knight's Court” located at Sector-128, Jaypee Greens, Wish Town, Noida.
  84. [84]
    Yamuna Expressway opening is Jaypee's free ride to Lucknow
    Aug 9, 2012 · Of the total that Jaypee has spent on building the Yamuna Expressway, Rs 12534 crore has been incurred till March 2012.Missing: involvement | Show results with:involvement
  85. [85]
    Real Estate Development - Jaypee Group
    The residential plots development at Jaypee Greens, Wish Town comprises plots ranging in size from 153 to 538 square yards totalling approximately 3.96 million ...
  86. [86]
    The Rise and Fall of Jaypee Group: A Real Estate Saga ... - LinkedIn
    May 21, 2025 · Jaypee took on massive debt to fund power plants, real estate, and infrastructure simultaneously. They stretched themselves thin - financially ...
  87. [87]
    [PDF] India's Great Slowdown: What Happened? What's the Way Out?
    Dec 9, 2019 · After the GFC, growth was much slower, interest rates much higher, and the exchange rate much more depreciated. (Rs 60/dollar and later around ...Missing: hikes | Show results with:hikes
  88. [88]
    [PDF] Global Financial Crisis, its Impact on India and the Policy Response
    The repo rate (RR) was increased by 125 basis points in three tranches from 7.75 percent at the beginning of April 2008 to 9.0 percent with effect from August ...Missing: hikes post
  89. [89]
    Debt behind Jaypee Group's rising troubles - BusinessToday
    A massive debt and pressure on profitability have been troubling it for the past few quarters. What made matters was the shutdown of a power plant in ...Missing: challenges 2010s
  90. [90]
    Jaypee Group keeps head above water - The Economic Times
    Mar 25, 2009 · It has recorded a 35% growth in sales and a 25% in profit for the first nine months of the current fiscal year on the back of stronger ...
  91. [91]
    How Manoj Gaur's leadership helped Jaypee Group clock a turnover ...
    Aug 23, 2012 · He showed a streak of leadership as a young boy when he assisted his father to diffuse a major strike at the Sardar Sarovar Dam in Gujarat, ...
  92. [92]
    Stock Synopsis: JP Associates- Evolving Infrastructure Pl
    Oct 4, 2025 · JP Associates highlighted acquisition of entire 165kms of Taj expressway (JPI) land, addition to & monetization of real estate land bank; ...
  93. [93]
    [PDF] Annual Report 2012-2013 - Jaypee Infratech Ltd
    The vehicular movements and revenue generation till date is satisfactory. Your Company is developing five integrated Townships over 25 million square meters of ...
  94. [94]
    [PDF] Jaypee Infratech Ltd. 4th October, 2010 - RR Finance
    Oct 4, 2010 · There is a shift in the policy of the government to finance infrastructural projects through Public Private Partnerships (PPP's) Through a range ...
  95. [95]
    [PDF] JAYPEE INFRATECH LIMITED
    May 4, 2010 · Our Company and the Selling Shareholder may, in consultation with the Book Running Lead Managers, allocate up to 30% of the QIB Portion to.
  96. [96]
    [PDF] Annual Report for the Year 2012-13 - Jaypee Group
    Dec 19, 2009 · To receive, consider and adopt the audited Balance. Sheet as at March 31, 2013, the Statement of Profit &. Loss for the year ended on that date ...
  97. [97]
    Why JP Associates' last deal has Adani at the table? - Finshots
    Jul 9, 2025 · Well, the entire F1 project was routed through Jaypee Sports International Ltd, a subsidiary of JP Associates Ltd, the group's flagship. And ...
  98. [98]
    JP Group trying to reduce debt overhang: Lenders
    Oct 13, 2014 · Jaypee Power Ventures and JP Associates together had net debt of just over Rs 97,000 crore at the end of March 2014, according to Capitaline ...
  99. [99]
    [PDF] UnDer ConstrUCtIon: InDIA's InFrAstrUCtUre DeBt FUnDs—theIr
    Sep 29, 2014 · Infrastructure projects typically have long-term repayment profiles whereas banks are funded with short-term liabilities. As discussed later ...
  100. [100]
    Lenders review Jaypee Group's debt - The Economic Times
    Oct 13, 2014 · The Manoj Gaur-led group is in the process of reducing its debt of over Rs 72000 crore by selling some of its assets.
  101. [101]
    Mr. Anuj Jain Interim RP Jaypee Infratech Ltd. Vs. Suraksha Realty Ltd.
    Mar 10, 2023 · The Corporate Insolvency Resolution Process (CIRP) in respect of M/s Jaypee Infratech Ltd., Corporate Debtor was initiated on 09.08. 2017 under ...
  102. [102]
    NCLT approves Jaypee Infratech takeover - Times of India
    Mar 7, 2023 · On March 21, 2021, the apex court ordered for fresh round of bidding between the NBCC and the Suraksha group only. (With inputs from PTI).Missing: entry | Show results with:entry
  103. [103]
    NCLT approves Suraksha group's bid for Jaypee Infratech
    Mar 7, 2023 · In the fourth round of the bidding process to find a buyer for JIL in 2021, Suraksha group had won the bid with 98.66 per cent votes. The ...Missing: entry | Show results with:entry<|separator|>
  104. [104]
    NCLT approves Suraksha Group's bid to acquire Jaypee Infratech ...
    Mar 7, 2023 · The National Company Law Tribunal approved Mumbai-based Suraksha group's resolution plan of Jaypee Infratech Limited and complete around 20,000 ...Missing: entry | Show results with:entry
  105. [105]
    Suraksha Group's takeover of Jaypee Infratech gets NCLT approval
    Mar 7, 2023 · Suraksha Group's takeover of Jaypee Infratech gets NCLT approval. Suraksha's offer was cleared by a committee of creditors (CoC) and submitted ...Missing: entry | Show results with:entry
  106. [106]
    [PDF] SURENDER KUMAR MATA - Jaypee Infratech Ltd
    Mar 7, 2023 · Please find attached herewith NCLT order dated 07.03.2023, which is self explanatory and also contains the Resolution Plan of successful ...
  107. [107]
    What Led to Jaiprakash Associates Insolvency Proceedings?
    Jun 10, 2025 · ... 2000s boom. From cement and power to real estate and construction, the company expanded rapidly, riding high on marquee projects and India's ...Missing: expansion | Show results with:expansion
  108. [108]
    NCLAT sets aside Jaiprakash Associates' plea against insolvency ...
    Dec 6, 2024 · The National Company Law Appellate Tribunal (NCLAT) on Friday (December 6, 2024) rejected Jaiprakash Associates Ltd's petition challenging the insolvency ...
  109. [109]
    Jaiprakash Associates receives five bids in insolvency process
    Jun 26, 2025 · Jaiprakash Associates Ltd announced that it has received five bids along with earnest money for the acquisition of the company in its entirety.
  110. [110]
    Bidders file fresh JAL plans as CoC weighs challenge round decision
    Aug 17, 2025 · Bidders have revised plans for Jaiprakash Associates after lender talks, but key legal hurdles remain as CoC weighs whether to renegotiate ...
  111. [111]
    Lenders reject Jayprakash Infratech's resolution plan to buy JAL
    Jul 6, 2025 · Lenders of Jaiprakash Associates (JAL) have turned down Jaypee Infratech's request to accept its resolution plan to acquire the bankrupt diversified company.<|control11|><|separator|>
  112. [112]
    CCI Greenlights Jindal Power's Bid for Debt-Ridden Jaiprakash ...
    Sep 30, 2025 · The Competition Commission of India (CCI) has given in-principle approval to Jindal Power Ltd for the potential acquisition of Jaiprakash ...
  113. [113]
    Jaiprakash Associates Insolvency: CCI Approves PNC Infratech's ...
    Sep 17, 2025 · Jaypee Group's Jaypee Infratech has already been acquired by Mumbai-based Suraksha Group through an insolvency process. Suraksha Group has ...
  114. [114]
    YEIDA serves notice to Suraksha Realty over 17,000 delayed Wish ...
    Aug 15, 2025 · YEIDA recently issued a formal notice to Suraksha Realty, pressing for answers on four key issues including stalled construction and fund delays ...
  115. [115]
    Jaypee diverted ₹10000 cr to e-way, other plans: Buyers
    Nov 21, 2017 · Home buyers of Jaypee Wish Town have submitted an application in the Supreme Court, claiming that Rs 10000 crore has been diverted by Jaypee ...Missing: failures causes
  116. [116]
    Jaypee Infratech Bankruptcy Case – The Final Bid - IBC Laws
    Jun 12, 2021 · On enquiry, it was alleged that the funds were diverted by Jaypee Infratech groups into the promotion of Yamuna Express development.
  117. [117]
    RERA registration for 7 stalled Jaypee Infratech projects renewed
    Feb 11, 2025 · With actions like RERA registration revalidation, homebuyers under the Suraksha Group can now expect faster progress on their long-delayed ...
  118. [118]
    Homebuyers protest against long delay in Jaypee Infratech projects
    Apr 10, 2025 · Hundreds of homebuyers on Thursday protested against the inordinate delay in the construction of units under Jaypee Infratech's housing ...
  119. [119]
    Latest News, Photos, Videos on Jaypee Home Buyers - NDTV.COM
    Jaypee Group Apologises To Homebuyers, Says Will Finish Pending Projects. Saturday April 20, 2019; India News | Press Trust of India.
  120. [120]
    Jaypee buyers protest at Suraksha office as their long wait gets longer
    Apr 11, 2025 · Homebuyers shouted slogans and breached barricades near Suraksha's office in Sector 128, forcing police to intervene.
  121. [121]
    Jaypee buyers protest delay in construction; NCLT hearing soon
    Apr 10, 2025 · During the protest, a few buyers sustained minor injuries while trying to enter the Suraksha office in Wish Town Sector 128. According to the ...
  122. [122]
    ED conducts searches on premises of Jaypee and other realty firms
    May 24, 2025 · A senior officer said ED is looking into an alleged "fraud with homebuyers and investors of around Rs 12,000 crore and siphoning off and ...Missing: causes | Show results with:causes
  123. [123]
    Jaiprakash Associates defaults on ₹4,616 crore loan amid ... - Mint
    May 7, 2024 · Jaiprakash Associates defaults on ₹4,616 crore loan amid restructuring. JAL's total liabilities, including interest, stand at ₹29,805 crore, ...
  124. [124]
    Jaiprakash Associates defaults on Rs 4258 crore loans
    Nov 6, 2023 · Crisis-hit Jaypee Group's flagship firm Jaiprakash Associates on Monday said it has defaulted on loans worth Rs 4,258 crore, including ...<|separator|>
  125. [125]
    IDBI Bank says Jaypee Infratech has gone back to defaulting ...
    Sep 5, 2017 · IDBI Bank says Jaypee Infratech has gone back to defaulting promoters; moves Supreme Court to restore insolvency. IDBI Bank, the largest ...Missing: disputes | Show results with:disputes
  126. [126]
    Mortgage offered by subsidiary under insolvency to secure parent ...
    Mar 3, 2020 · The Supreme Court ruled that a mortgage by a subsidiary to secure parent debt is preferential, as the parent was the ultimate beneficiary, and ...
  127. [127]
    Supreme Court's Ruling in China Development Bank Creates ...
    Feb 10, 2025 · Simply put, the Court in Jaypee Infratech ruled that a mortgage created by a third-party security provider to secure a borrower's loan cannot be ...
  128. [128]
    SC Ruling: Deed of Hypothecation as a Guarantee under IBC
    Mar 24, 2025 · The SC ruled a Deed of Hypothecation can be a guarantee if it obligates the security provider to cover shortfalls, making it financial debt ...
  129. [129]
    Consortium of lenders of Jaiprakash Associates transfers debt to ...
    Mar 12, 2025 · Jaiprakash Associates Ltd's consortium of lenders has transferred their outstanding debt to National Asset Reconstruction Company Ltd (NARCL), as the firm ...
  130. [130]
    Jaypee Infratech's promoter makes second attempt to settle Rs ...
    Feb 19, 2019 · Crisis-hit Jaiprakash Associates has once again submitted a proposal to lenders of its subsidiary Jaypee Infratech for settling dues worth ...
  131. [131]
    NCLAT rejects Jaiprakash Associates' petition challenging insolvency
    Dec 6, 2024 · ... default of Rs 6,893.15 crore as of September 15, 2022. JAL, the flagship firm of the debt-ridden Jaypee Group, was part of the Reserve Bank ...
  132. [132]
    Whether a Resolution Plan violates provision of Section 30(2)(e) of ...
    The law is well settled that after approval of the Resolution Plan, the Personal Guarantors and Corporate Guarantors have no right of subrogation.
  133. [133]
    Here's all you need to know about the Jaypee Infratech case
    Oct 17, 2019 · On August 8, 2017, IDBI Bank petitioned the National Company Law Tribunal (NCLT) to initiate insolvency proceedings against Jaypee Infratech for defaulting on ...
  134. [134]
    the jaypee infratech limited and the petition for insolvency - Lawyered
    May 25, 2023 · In August 2017, the National Company Law Tribunal (NCLT) admitted an insolvency petition against Jaypee Infratech Limited filed by an IDBI Bank ...Missing: regulatory | Show results with:regulatory
  135. [135]
    SC orders status quo for 2 weeks on Jaypee Group plea against ...
    Aug 2, 2019 · Jaypee Infratech went into insolvency in August 2017 after the National Company Law Tribunal (NCLT) admitted an application filed by an IDBI ...
  136. [136]
    Resetting the Clock: Supreme Court Sends Jaypee Infratech Limited ...
    Aug 27, 2018 · Sympathetic to the cause and interest of the homebuyers, the Supreme Court stayed the NCLT Order vide its order dated September 04, 2017 (Stay ...Missing: Group battles
  137. [137]
    CIRP - Jaypee Group
    CIRP Intimation. Intimation Notice and the NCLT Order dated 05.06.2024 ... Documents - Inviting bids for Operating the Cement Units of JAL. EOI Cement Unit ...
  138. [138]
    Supreme Court's decision in Jaypee matter clarifies various aspects ...
    Apr 8, 2021 · Several appeals were preferred against NCLT's approval of the modified resolution plan before the National Company Law Appellate Tribunal (NCLAT) ...
  139. [139]
    SC comes to rescue of Home-Buyers in "Jaypee Infratech ... - Taxmann
    The petitioners further submitted that apparently to assuage the hurt feelings of the home-buyers, the regulatory authority of IBC, namely, the Insolvency & ...Missing: battles | Show results with:battles
  140. [140]
    List of 26 Bidders Including Adani, Vedanta, and Patanjali - Angel One
    Apr 8, 2025 · Mounting Debt and Creditor Claims. As of March 11, 2025, Jaiprakash Associates had outstanding loans of ₹55,409.28 crore to various financial ...Missing: August | Show results with:August<|control11|><|separator|>
  141. [141]
    Jaiprakash Associates Creditors Approve Claims List with ... - ScanX
    Jaiprakash Associates Creditors Approve Claims List with 89% Votes During Insolvency Process. 1 min read Updated on 17 Sept 2025, 05:50 PM.Missing: liabilities | Show results with:liabilities
  142. [142]
    Jaiprakash Associates 22nd Committee of Creditors Meeting ...
    Oct 14, 2025 · Jaiprakash Associates Limited (JAL) has scheduled the twenty-second meeting of its Committee of Creditors (CoC) on October 15, 2025.Missing: Group | Show results with:Group
  143. [143]
    https://www.business-standard.com/companies/news/adani-group-wins-lenders-vote-to-take-over-jaiprakash-associates-125111900841_1.html
  144. [144]
    Jaiprakash Associates Ltd share price | About JP Associates
    16 Oct - NCLT admitted Bhilai Jaypee Cement Ltd to CIRP on 15 Oct 2025; operational debt Rs45.40 crore. Corporate Insolvency Resolution Process (CIRP)-Outcome ...<|separator|>
  145. [145]
    https://www.screener.in/company/JPASSOCIAT/consolidated/
  146. [146]
    https://www.business-standard.com/companies/news/nclt-orders-proceedings-against-bhilai-jaypee-cement-over-45-cr-default-125102200289_1.html
  147. [147]
    Adani, Vedanta, Dalmia, JSPL among six bidders for Jaypee ...
    Jun 26, 2025 · Jaiprakash Associates Ltd. (JAL), facing substantial debt, has received six resolution plans from prominent suitors including Adani Group and Vedanta.
  148. [148]
    Adani, Dalmia and Others Revise Bids to Acquire JP Associates
    Aug 18, 2025 · Indian giants, including the Adani Group, Dalmia Group, Vedanta Group, Jindal Power and PNC Infratech have submitted their revised bids to ...Missing: suitors | Show results with:suitors
  149. [149]
    Bidders raise red flag on Jaiprakash land titles; Adani, Vedanta ...
    Jun 26, 2025 · Five bidders that include Adani Enterprises, Vedanta, Jindal Power, Dalmia Bharat Cement, and PNC Infratech, were then shortlisted.Missing: suitors | Show results with:suitors
  150. [150]
    Vedanta outbids Adani to buy bankrupt JAL with ₹17,000 crore offer
    Sep 5, 2025 · Vedanta outbids Adani with a ₹17000 crore offer for Jaiprakash Associates in a challenge auction, with an NPV of ₹12505 crore, ...
  151. [151]
    Vedanta beats Adani to emerge top bidder for JAL with Rs 12,510 ...
    Sep 5, 2025 · The insolvency proceedings against Jaiprakash Associates, a flagship company of the Jaypee Group, began on June 3, 2024, when the National ...
  152. [152]
    CCI approves Vedanta bid to acquire debt-laden Jaiprakash ...
    Oct 14, 2025 · The Competition Commission of India has cleared Vedanta Limited's ₹17000 crore acquisition of debt-ridden Jaiprakash Associates.
  153. [153]
    Vedanta taps lenders to back Rs 17,000-crore bid for Jaiprakash ...
    Oct 16, 2025 · The Allahabad Bench of the National Company Law Tribunal (NCLT) admitted the company into insolvency proceedings in June 2024. However, a major ...
  154. [154]
    Vedanta outbids Adani Group to acquire JAL with ₹17000 crore offer
    Vedanta outbids Adani Group to acquire JAL with ₹17,000 crore offer ... Multiple bidders participated in the process, but in the end, firm bids ...
  155. [155]
    Yeida injects funds to finish 12 JAL projects | Hindustan Times
    May 2, 2025 · The Yamuna Expressway Industrial Development Authority (Yeida) will put in funds to finish the 12 housing projects which the Jaypee Group has failed to deliver ...
  156. [156]
    YEIDA Steps In to Revive 12 Stalled Jaypee Projects, Bringing ...
    May 5, 2025 · YEIDA to complete 12 stalled Jaypee projects, offering relief to 8000+ homebuyers. A new portal will aid in updates, communication, ...Missing: real estate
  157. [157]
    YEIDA steps in to revive 12 stalled Jaiprakash Associates Limited ...
    May 2, 2025 · Yeida has announced that it will step in with its own funds to complete 12 unfinished projects that the Jaypee Group failed to deliver.
  158. [158]
    All Eyes on YEIDA Committee & Online Portal for JAL Projects ...
    May 5, 2025 · Over 4,500 homebuyers in 12 stalled housing projects by Jaiprakash Associates Ltd will be represented in a High Court-mandated committee ...
  159. [159]
    YEIDA orders audit of 12 stalled Jaypee housing projects along ...
    Jun 25, 2025 · YEIDA has commissioned a detailed audit of 12 long-stalled housing projects by Jaiprakash Associates Ltd. (JAL) along the Yamuna Expressway.Missing: Group funding
  160. [160]
    Suraksha Group shares Jaypee Wish Town status, pushes deadline ...
    Apr 24, 2025 · Suraksha Group has pushed the possession deadline for various residential units in the under-construction towers at Jaypee Wish Town, a project it has taken ...
  161. [161]
    Suraksha Group to infuse ₹5,500 cr in 3 years to deliver Jaypee ...
    Apr 24, 2025 · ... deadlines stretching from June 2026 to December 2028. The projects include Pebble Court, Kosmos, Klassic, Kasa Isles, Kensington Boulevard ...
  162. [162]
    Suraksha to Deliver 3800 Jaypee Wish Town Flats This Year
    Aug 23, 2025 · Suraksha Group will deliver 3,800 flats in Jaypee Wish Town during FY25. Work on stalled projects has restarted with increased manpower, ...
  163. [163]
    Jaypee Infra projects update: Suraksha Group to invest ₹5500 cr to ...
    Apr 24, 2025 · Suraksha Group-led Jaypee Infra has assured JIL homebuyers that it will invest ₹5500 cr over the next three years to complete stalled ...<|control11|><|separator|>
  164. [164]
    After years of delay, Jaypee buyers may get keys to their homes in ...
    Aug 15, 2025 · Suraksha is expected to invest about ₹5,500 crore towards completing construction of about 20,000 homes of Jaypee group in Noida and Greater ...
  165. [165]
    Yeida issues realty firm notice over construction delay
    Aug 10, 2025 · We have sent this letter with hope that Suraksha will submit its reply on 14 points within 7 days, so that the next action can be initiated,” ...
  166. [166]
    India's Adani Enterprises says bid for Jaiprakash Associates won creditor nod
    Reuters article detailing the creditor approval of Adani Enterprises' ₹13,500 crore takeover proposal for Jaiprakash Associates on November 19, 2025, noting it awaits NCLT approval.
  167. [167]
    India's Adani Enterprises says bid for Jaiprakash Associates won creditor nod
    Reuters article reporting Adani Enterprises' creditor approval for its $1.53 billion takeover plan of Jaiprakash Associates on November 19, 2025.
  168. [168]
    Adani group wins lenders' vote to take over Jaiprakash Associates
    Business Standard article detailing the majority lender approval for Adani Group's acquisition of Jaiprakash Associates on November 19, 2025, with the highest upfront payment.