Assets of Jaiprakash Associates up for grabs under insolvency process
Jaiprakash Associates Limited (JAL) is currently undergoing the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016 (IBC). The company, which was admitted into CIRP on June 3, 2024, has a diversified portfolio of assets across various sectors, including real estate, cement, hospitality, and engineering & construction. This report outlines the key assets available for purchase under the CIRP of Jaiprakash Associates.
1. Real Estate Assets
Jaiprakash Associates has a significant presence in the real estate sector, with several high-value projects located in prime areas, particularly in the National Capital Region (NCR). The real estate assets include:
- Jaypee International Sports City, Yamuna Expressway:
- Land Area: 2,470 acres
- Development Potential: Residential, commercial, and institutional real estate
- Location: Proximity to the upcoming Jewar International Airport
- Jaypee Greens, Greater Noida:
- Land Area: 452 acres
- Features: 7.5-hole golf course, clubs, resort, conference & banquet facilities, spa, health club, and recreational options
- Jaypee Greens, Wishtown, Noida:
- Land Area: 1,063 acres
- Features: Integrated township with an 18.9-hole golf course, shopping arcade, and office spaces
- Facility Management Business:
- Annual Revenue: INR 200 crore
- Scope for Revenue Enhancement: Across various projects
2. Cement Assets
JAL has a strong presence in the cement industry, with several plants and limestone mines. However, the cement plants are currently non-operational but can be restarted with capital infusion. Key assets include:
- Rewa Cement Plant:
- Location: Madhya Pradesh
- Capacity: Clinker – 3 MTPA, Grinding – 1.65 MTPA
- Captive Power Plant: 62 MW
- Chunar Cement Grinding Unit:
- Location: Uttar Pradesh
- Capacity: 2.5 MTPA
- Captive Power Plant: 37 MW
- Churk Cement Grinding Unit:
- Location: Uttar Pradesh
- Capacity: 1 MTPA
- Captive Power Plant: 180 MW
- Sadwa Cement Blending Plant:
- Location: Uttar Pradesh
- Leased Limestone Mines:
- Location: Madhya Pradesh
- Captive Power Capacity: 279 MW
3. Hospitality Assets
JAL owns and operates several premium hotels and resorts across India, particularly in Delhi NCR, Agra, and Mussoorie. The hospitality assets include:
- Jaypee Vasant Continental, Delhi: 119 keys
- Jaypee Siddharth, Delhi: 102 keys
- Jaypee Greens Golf Resort & Spa, Greater Noida: 170 keys
- Jaypee Palace & Convention Center, Agra: 341 keys
- Jaypee Residency Manor, Mussoorie: 135 keys
4. Engineering & Construction (E&C) Assets
JAL has a long-standing reputation in the engineering and construction sector, with expertise in hydropower, irrigation, and infrastructure projects. The E&C division has several ongoing projects, including:
- Naigarhi I & II Micro Irrigation Projects: Madhya Pradesh
- Alimineti Madhav Reddy Project: Irrigation Tunnels, Telangana
- Palamuru Rangareddy Lift Irrigation Scheme: Telangana
- Naitwar Mori Hydroelectric Project: Uttarakhand (60 MW)
- Punatsangchhu-II HEP, Bhutan: Hydropower Generation (1020 MW)
- Arun-3 Hydroelectric Project: Nepal (900 MW)
5. Investments in Group Companies
JAL holds significant investments in various group companies, which are also part of the assets available under CIRP. Key investments include:
- Jaiprakash Power Ventures Limited (JPVL):
- Stake: 24%
- Operational Assets:
- Nigrie Super Thermal Power Plant (1,320 MW)
- Bina Thermal Power Plant (500 MW)
- Vishnuprayag Hydro Power Plant (400 MW)
- Nigrie Cement Grinding Unit (2 MTPA)
- Jaypee Fertilizers & Industries Limited (JFIL):
- Stake: 100%
- Subsidiary: Jaypee Uttar Bharat Vikas Private Limited (JUBVPL)
- Stake in Kanpur Fertilizers & Chemicals Limited (KFCL): 92.79%
- Bhilai Jaypee Cement Limited (BJCL):
- Stake: 74%
- Operational Assets:
- Clinker Plant at Satna
- Integrated Cement Plant in Bhilai (2.2 MTPA)
6. Other Investments
JAL also has investments in several other subsidiaries and associate companies, including:
- Himalyan Expressway Limited (100%)
- Jaypee Cement Hockey (India) Limited (100%)
- Jaypee Infrastructure Development Limited (100%)
- Jaypee Ganga Infrastructure Corporation Limited (100%)
- Jaypee Agra Vikas Limited (100%)
- Yamuna Expressway Tolling Limited (100%)
Conclusion
The assets available for purchase under the CIRP of Jaiprakash Associates Limited (JAL) are diverse and span across multiple high-growth sectors, including real estate, cement, hospitality, and engineering & construction. These assets offer significant potential for value unlocking and long-term returns for potential investors. The resolution process under IBC provides a clean slate for the acquisition of these assets, with protections and immunities for resolution applicants under Section 32A of the IBC.
Potential investors are encouraged to conduct thorough due diligence and seek professional advice before making any investment decisions. The resolution professional, Mr. Bhuvan Madan, and his team are available for further inquiries and assistance in the due diligence process.
Also See: NCLT directs Jaiprakash Associates to continue with single resolution plan option
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Very good information
these many assets and stil bankruptcy, too much 5 fingers get a slice of their share for almost freely and last were banks and share holders to stare to burnt even owner of jaiprakash happy for going free with debt less and may already taken his share from 50000+ crores debt
it happens only in india
He has taken money from home buyers and didn’t start any construction like BS1 project where i paid 40% advance in 2013 and not started any construction till now. Deceived home buyers. इसकी नीयत खराब है. God will take care of him and homebiyers.
भगवान सब अच्छा करेंगे. 🙏🙏
What about share holders
Unless they are satisfied likely that they may go to court.
Insolvency Case of JAL should be solved at the earliest
Quite delay for allotees who are end users. Insolvency Case of JAL should be solved at the earliest
Insolvency bankruptcy are not for
Honour.the company should put efforts to revive,sell some assets
And start jaypee steel ,cement ,etc
Is KFCL at Kanpur is going to be purchased by Adani.
Supreme court coerced arm twisted JP group to deposit 750 crore cash. Last nail in the coffin. Any hope of management to run / revive were thus blocked. Supreme court kept this amount , not knowing what to do with this money. This amount was then transferred to NCLT Allahabad, after only 2/3 years, with instructions to take appropriate decision.
NCLT further took about 2 years to do anything with it.
Taking such large amount out of a company amounts to ensuring bankruptcy. This is another perspective
IRP mahoday se nivedan hai ki is samasya ka Samadhan jald se jald kiya jaaye
Is prakriya mein lagbhag 8 sal beet chuka hai pure emploiyon ki sthiti bahut hi Gambhir Bani hui hai atah jaldi resolution prakriya purn kiya jaaye
In the interest of employees and the company, it must be revived, and function of the group mist restart. If government can ensure revival of the banks and other institutions in national interest, then why not to workout a plan for this giant group, which was once giving employment and was part of the industrial progress. Government must think of revival, not closure or liquidation.
माननीय उच्चतम न्यायालय को यह संज्ञान लेना चाहिए की जेपी ग्रुप के कई प्रोजेक्ट जो अभी अच्छे खासे चल रहे हैं जैसे की फाइव स्टार होटल, अस्पताल, engineering College ,toll plaza collection, power plant। इन सबको मिलकर तथा बाकी सारी अचल संपत्ति को अलग-अलग बेचकर 58000 करोड़ जो भी बकाया है इस सब को वसूल कर सभी लेनदारों का बकाया वापस होना चाहिए।
सबसे ज्यादा अफेक्टेड पार्टी home buyers hai.
माननीय उच्च न्यायालय इलाहाबाद द्वारा 10 मार्च को दिए गए अपने फैसले में भी स्पष्ट रूप से कहा गया है की होम बायर्स का पूर्ण रूप से ध्यान रखा जाए।
यमुना एक्सप्रेसवे अथॉरिटी तथा बैंक की मिली भगत की भी जांच होनी चाहिए।
सारा मामला ही वहां से खराब हुआ है जहां यमुना एक्सप्रेसवे अथॉरिटी ने जेपी से गांव वालों का बकाया पैसा देने की बात कही। जब यह प्रोजेक्ट 2008 से पहले ही अधिकरण कर दिया गया था तो 2020 में गांव वालों का कोई भी अधिकार नहीं रहता है लेकिन इस मामले को यमुना अथॉरिटी के अधिकारियों द्वारा तूल दिया गया और सारा मामला बिगड़ गया