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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.

Concrete

Dhanekula Institute Signs MoU with Adani Cement

Agreement to expand internships, industrial visits and practical learning

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The Department of Civil Engineering at Dhanekula Institute of Engineering & Technology, Ganguru, organised an industrial interaction programme under the Adani FutureX Programme on Thursday. The programme focused on strengthening engagement between the institute and the cement industry while giving students greater exposure to professional practices.

Yedukondalu, technical head for Andhra Pradesh and Telangana at Adani Cement, delivered a technical lecture on concrete as a man-made material. The session covered the importance of concrete in construction, its properties and applications, and its significance in modern infrastructure development.

The lecture also addressed the role of quality cement and suitable concrete technology in supporting durable and sustainable construction. The discussion connected classroom learning with the technical considerations involved in infrastructure projects and construction practices.

A key part of the programme was the signing of a memorandum of understanding (MoU) between the Department of Civil Engineering and Adani Cement under the Adani FutureX Partnership Agreement. The agreement is intended to strengthen industry-academia collaboration through opportunities for student internships and industrial visits.

The initiative is expected to provide students with practical exposure, improve their understanding of industrial practices and help bridge the gap between theoretical knowledge and real-world applications. Dhanekula Institute Chairman Dhanekula Ravindranath Tagore, Secretary Dhanekula Venkata Bhavani Prasad and Director DKRK Ravi Prasad supported the initiative, with the institute leadership highlighting the importance of industry-institution interaction in enhancing students’ technical employability.

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JK Lakshmi Cement Begins Rs. 110 bn Assam Plant Project

Project Kamakshi will produce 2.5 mn t of cement annually by FY2029.

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JK Lakshmi Cement has laid the foundation stone for Project Kamakshi, its first integrated cement manufacturing facility in Assam, marking the company’s entry into Northeast India. The groundbreaking ceremony took place at Umrangso village in Dima Hasao district in the presence of Assam Chief Minister Himanta Biswa Sarma.

The project involves an investment of Rs. 110 bn, including the mining lease. It will have annual cement production capacity of 2.5 mn t and a 1 mn t clinkerisation unit, with completion scheduled for FY2029.

The facility is expected to create more than 2,000 jobs and will primarily serve the growing Northeast market. It will also include dedicated railway sidings for transporting raw materials and finished cement, supporting supply chain reliability and regional distribution.

Chairperson and Managing Director Vinita Singhania said the project represented the beginning of a long-term relationship with Assam and the wider Northeast. She said the plant would help provide locally produced cement, employment and dependable supplies as the region’s infrastructure development accelerated, while enabling the company to grow alongside the communities it serves.

The investment supports JK Lakshmi Cement’s strategy of expanding into high-growth markets beyond its established presence in Northern, Western and Eastern India. The company expects the project to contribute to regional economic development and infrastructure growth while pursuing its long-term objective of achieving net-zero emissions by 2047.

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Kshatriya Engineering College Signs MoU with Adani Cement

Agreement to provide students with industrial exposure and training

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The civil engineering department of Kshatriya Engineering College in Nizamabad has signed a memorandum of understanding (MoU) with Adani Cement to provide students with industry-oriented training and practical exposure. The agreement is intended to connect classroom learning with workplace requirements in the construction sector.

Under the partnership, students will receive opportunities to take part in industrial visits and internships. The arrangement will also include guest lectures by industry experts and guidance on live projects, allowing students to gain first-hand understanding of industry practices and emerging construction technologies.

College secretary and correspondent Aljapur Devender said the initiative was designed to bridge the gap between academic instruction and industry expectations. He said the collaboration would help students develop practical skills and improve their employment prospects after completing their studies.

Principal Dr Katakam Srinivas said exposure to industrial practices was important for civil engineering students and would complement their academic learning. He said the MoU would support the development of their technical knowledge and confidence through greater familiarity with professional work environments.

Administrative officer B. Narender said the collaboration would familiarise students with modern construction technologies, quality standards and project management practices. Civil engineering department head N. Deepika said the agreement would help students understand recent developments in the construction sector and prepare for professional careers. The college said the partnership would give learners a broader view of the processes and standards followed in the industry, while helping them relate their academic studies to practical project requirements.

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