April 7, 2025 - There is a flurry of activity in the market regarding the potential acquisition of debt-ridden Jaiprakash Associates Limited, a company active in the real estate, cement, engineering, construction and hospitality sectors. In the race to acquire JP Associates are a total of 26 companies, including Adani Enterprises, Vedanta, Torrent Group, Jindal Power, Oberoi Realty and Patanjali of Baba Ramdev.

JP Associates is currently undergoing insolvency proceedings. It was admitted into the Corporate Insolvency Resolution Process which began following an order from the National Company Law Tribunal (NCLT), Allahabad Bench, on June 3, 2024. The company owes a total of Rs 57,185 crore, of which Rs 55,409 crore was due to financial institutions by March 2025.

National Asset Reconstruction Company Limited (NARCL) has purchased Jaypee Associates' debt from a consortium of banks led by the State Bank of India (SBI) and has now emerged as the largest contender for the acquisition.