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CCI Clears Vedanta’s Rs 170 Billion Bid For Jaiprakash Associates

Competition watchdog approves Vedanta’s proposed acquisition under IBC.

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The Competition Commission of India (CCI) has granted in-principle approval to Vedanta Ltd for its proposed acquisition of debt-laden Jaiprakash Associates Ltd (JAL), subject to Vedanta winning the ongoing insolvency bid.

In addition to Vedanta, bids submitted by Jindal Power, PNC Infratech, Adani Group, and Dalmia Bharat for JAL have also received clearance from the regulator.

“The proposed combination involves the acquisition of Jaiprakash Associates Ltd by Vedanta Ltd under a corporate insolvency resolution process (CIRP) in accordance with the Insolvency and Bankruptcy Code (IBC), 2016,” the CCI said in a statement.

The regulator confirmed the decision via a post on X (formerly Twitter), stating, “Commission approves acquisition of Jaiprakash Associates Ltd by Vedanta Ltd.”

Following a recent Supreme Court ruling on the IBC, approval from the CCI has become a mandatory requirement before the Committee of Creditors (CoC) votes on any resolution plan submitted for approval.

The CoC of Jaiprakash Associates is still reviewing the resolution plans received, with voting expected to take place shortly.

Last month, Vedanta reportedly outbid the Adani Group to make a winning offer worth Rs 170 billion, translating into a net present value (NPV) of Rs 125.05 billion. Sources said the bid emerged as the top proposal in a competitive process that saw multiple expressions of interest earlier this year.

Jaiprakash Associates, part of the Jaypee Group, has business interests spanning real estate, cement, power, hospitality, and roads, but was admitted to insolvency by the National Company Law Tribunal (NCLT), Allahabad Bench, on 3 June 2024, after defaulting on loan repayments.

According to financial filings, creditors have claimed over Rs 571.85 billion in unpaid dues. The National Asset Reconstruction Company Ltd (NARCL) is the largest claimant, having purchased stressed loans from a consortium led by the State Bank of India.

In April 2025, around 25 companies expressed interest in acquiring JAL, but by June, only five — Vedanta Group, Adani Enterprises, Dalmia Bharat Cement, Jindal Power, and PNC Infratech — submitted final bids with earnest deposits.

Vedanta’s bid marks a significant step in its expansion across India’s natural resources, critical minerals, and energy sectors, further strengthening its position as one of the country’s largest industrial conglomerates.

JAL’s assets include major real estate developments such as Jaypee Greens in Greater Noida, Jaypee Wishtown in Noida, and the Jaypee International Sports City, located near the upcoming Jewar International Airport. The company also owns four cement plants in Madhya Pradesh and Uttar Pradesh, though these are currently non-operational, along with hotel properties in Delhi-NCR, Mussoorie, and Agra.

Another group company, Jaypee Infratech Ltd, has already been acquired by Mumbai-based Suraksha Group through the insolvency process.

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NDMC Rolls Out Intensive Sanitation Drive Across Lutyens Delhi

Municipal body intensifies cleaning and monitoring across the capital

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The New Delhi Municipal Council has launched an intensive sanitation drive across Lutyens’ Delhi, aiming to raise cleanliness standards in the capital’s central precincts. The programme will combine enhanced manual sweeping with mechanised cleaning and systematic waste removal to cover parks, heritage precincts and prominent thoroughfares. Authorities described the initiative as a sustained effort to improve public hygiene and reduce environmental hazards while maintaining the area’s civic image.

Operational teams have been instructed to prioritise drain clearing and litter hotspots, with special attention to markets and transit nodes that attract heavy footfall. Coordination with city utilities and waste processing units will be stepped up to ensure timely collection and disposal, and supervisory rounds will monitor adherence to cleaning schedules. Officials also intend to use data-driven planning to deploy resources efficiently and to identify recurring problem areas.

The council plans to engage resident welfare associations and business stakeholders to foster community participation in maintaining cleanliness and to support behavioural change campaigns. Public communication will be amplified through notices and outreach to encourage responsible waste handling and to inform residents about collection timings and segregation norms. Enforcement measures for littering and unauthorised dumping will be reinforced as part of a broader strategy to deter violations and sustain cleanliness gains.

The move reflects a focus on urban sanitation that officials link to public health priorities and to the city administration’s commitment to maintaining civic amenities. Monitoring mechanisms will include regular reporting and inspections to review outcomes and to recalibrate operations where necessary, according to municipal sources. The council emphasised that continued community cooperation will be essential for the drive to deliver lasting improvements in the appearance and hygiene of the capital’s core areas.

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UltraTech Appoints Jayant Dua As MD-Designate For 2027

Executive named to succeed current managing director in 2027

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UltraTech Cement has appointed Jayant Dua as managing director (MD) designate who will take charge in 2027, the company announced. The appointment signals a planned leadership transition at one of the country’s largest cement manufacturers. The board has set a clear timeline for the handover and has framed the move as part of a structured succession plan.

Jayant Dua will be referred to as MD after assuming the role and will be responsible for overseeing operations, strategy and growth initiatives across the company’s network. The company said the designation follows established governance norms and aims to ensure continuity in executive leadership. The appointment is expected to allow a phased transfer of responsibilities ahead of the formal changeover.

The decision is intended to provide strategic stability as UltraTech Cement navigates domestic infrastructure demand and evolving market dynamics. Management will continue to focus on operational efficiency, capacity utilisation and cost management while aligning investments with long term objectives. The board will monitor the transition and provide further information on leadership responsibilities closer to the effective date.

Investors and market observers will have time to assess the implications of the announcement before the change is effected, and analysts will review the company’s outlook in the context of the succession. The company indicated that it will communicate any additional executive appointments or organisational changes as they are finalised. Shareholders were advised to refer to formal filings and company releases for definitive details on governance or remuneration.

The leadership change will be managed with attention to stakeholder interests and operational continuity, and the company reiterated its commitment to delivery on ongoing projects and customer obligations. Senior management will engage with employees and partners to ensure a smooth handover while maintaining focus on safety and compliance. Further updates will be provided through official investor communications in due course.

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Merlin Prime Spaces Acquires 13,185 Sq M Land Parcel In Pune

Rs 273 crore purchase broadens the developer’s Pune presence

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Merlin Prime Spaces (MPS) has acquired a 13,185 sq m land parcel in Pune for Rs 273 crore, marking a notable expansion of its footprint in the city.

The transaction value converts to Rs 2,730 mn or Rs 2.73 bn.

The parcel is located in a strategic area of Pune and the firm described the acquisition as aligned with its growth objectives.

The deal follows recent activity in the region and will be watched by investors and developers.

MPS said the acquisition will support its planned development pipeline and enable delivery of commercial and residential space to meet local demand.

The company expects the site to provide flexibility in product design and phased development to respond to market conditions.

The move reflects an emphasis on land ownership in key suburban markets.

The emphasis on land acquisition reflects a strategy to secure inventory ahead of demand cycles.

The purchase follows a period of sustained investor interest in Pune real estate, driven by expanding office ecosystems and residential demand from professionals.

MPS will integrate the new holding into its existing portfolio and plans to engage with local authorities and stakeholders to progress approvals and infrastructure readiness.

No financial partners were disclosed in the announcement.

The firm indicated that timelines will depend on approvals and prevailing market conditions.

Analysts note that strategic land acquisitions at scale can help developers manage costs and timelines while preserving optionality for future projects.

MPS will now hold an enlarged land bank in the region as it pursues growth, and the acquisition underlines continued corporate appetite for measured expansion in second tier cities.

The company intends to move forward with detailed planning in the coming months.

Stakeholders will assess how the site is positioned relative to existing infrastructure and connectivity.

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