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Lenders Ask Bidders to Sweeten Offers for JAL
Business Standard
|July 08, 2025
CoC in final phase of assessing resolution plans from 5 shortlisted bidders
The Committee of Creditors (CoC) of Jaiprakash Associates Ltd (JAL) is in the final phase of assessing resolution plans of five shortlisted bidders, with lenders prioritizing upfront cash and urging bidders to sweeten their offers. In meetings held on Monday between the lenders and the bidders, the former discussed the structure and funding of the proposed resolution plans.
All bids, however, remain contingent on the outcome of a key legal case surrounding Jaiprakash's 1,000-hectare Sports City project in Greater Noida. In March, the Allahabad High Court had upheld a decision by the Yamuna Expressway Industrial Development Authority (Yeida) to cancel the land allotment. The matter is now pending before the Supreme Court.
This story is from the July 08, 2025 edition of Business Standard.
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