Reports indicate that major business groups such as JSW, Dalmia BHARAT, Jindal Power, Vedanta, GMR, Welspun and Torrent have provided expressions of interest (EOIS) for Jaiprakash Associates Ltd (JAL). The ADANI group is also expected to present the EOI group before the deadline on March 25.
According to a report issued by The Economic Times, another large industrial house is expected to present the EOI, as well as the alternative Kotak origins. Eois is the first stage in the process of giving bids for a new owner for Jal.
This comes at a time when Jal was appointed in the hammer to conduct an observer insolvency. The National Company’s Law Court (NCLT) has instructed the DELOTETE accuracy specialist, Buffan Madan, to invite decision -making plans.
The plans will also take into account the assets of the company, which may exceed two billion dollars or 17300 rupees, according to the daily financial newspaper. The previous plan was to call for interest for individual assets.
The Buddhist International Circle in the Greater Noida, known as the hosting of Formula One races, which is a 2500 -acre ground parcel in Noida Expressway, which is a year with a annual capacity of 10 million tons, five hotels, etc. are some of the company’s assets.
The company was accepted for NCLT insolvency procedures on an appeal by ICICI last year. The court ruled that he had failed to pay the loans obtained from creditors.
Jal lender who included ICICI Bank, State Bank in India, Punjab National Bank, IDBI and 21 others assigned their loans, including technical manager, benefits and penalties over several years, with about 48,000 rupees for the National Asset RecONSTRUCTION CO LTD (NARCL) on March 12.
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