Fida is superior to Aden

The Fida Mining Group overcame Gotam Adani Group to make a winning offer to obtain the debts of Gabrakash Associated (JAL) for 17,000 rupees, Pti I mentioned, quoting sources. The value of the offer is translated into the current net value (NPV) from Jaiprakash Associats, which is 12,505 rupees.

Jaiprakash Associates, which has interests in real estate, cement, power, hotels and roads, has been pulled to insolvency procedures after paying the loan payment.

The lenders performed a challenge for sale under the insolvency and bankruptcy law (IBC). Several offers of offers participated, but only fixed offers came from Adani Group and Vedanta. The report added that the winner of the winner of 17,000 rupees, with NPV with a value of 12,505 rupees, obtained Adwani.

On September 5, C creditor meeting supervised the challenge process. Malian creditors called for unpaid dues of 57,185 rupees. The National Asset RecONSTRUCTIONY COMPANY LTD (NARCL), which has obtained a jalty jal from a consortium led by the State Bank in India, is the largest claim.

Earlier this year, 25 companies expressed their interest in obtaining Jal. By June, five bidders, Dalmia Bharat Center, Vedanta Group, Jindal Power and PNC Infratech – serious offers.

The National Court of Law in the National Law Court has acknowledged the process of solving the company’s insolvency (CIRP) on June 3, 2024.

Jal wallet includes real estate projects like Jaypee Greens in Greater Noida, part of Jayee Greens Wishtown in Noida, and Jaypee International Sports City near the upcoming Jowar International Airport. It also has three commercial spaces in Delhi NCR and five hotels throughout Delhi NCR, Mussoorie and AGRA.

In cement, Jal has four non -operating plants in the state of Maadi Pradesh and the strings of Pradesh, along with the limestone leased limestone mines in the state of Maadi Pradesh. The group also holds stakes in subsidiary companies including Jaiprakash Power Ventures Ltd, Yamuna Expressway Tolling Ltd and Jaypee Infrastructure Development Ltd.

Separately, Jaypee Infratech LTD, another group company, was already obtained by Suraksha Group based in Mumbai through the insolvency process.