Overview of the Provisional List

On April 4, 2025, Jaiprakash Associates Limited (JAL) disclosed the provisional list of eligible Prospective Resolution Applicants (PRAs) in line with Regulation 36A(10) under the Insolvency and Bankruptcy Board of India’s Insolvency Resolution Process for Corporate Persons Regulations, 2016.

A total of 26 entities have submitted their Expressions of Interest and have met the initial eligibility criteria. Notable contenders among these applicants include:

• Adani Enterprises Limited
• Asset Reconstruction Company (India) Limited
• Authum Investment & Infrastructure Limited
• Dalmia Cement (Bharat) Limited
• GMR Business & Consultancy LLP
• Jaypee Infratech Limited
• Jindal India Power Limited (formerly Jindal India Thermal Power Limited)
• Jindal Power Limited
• Kotak Alternate Asset Managers Limited
• Oberoi Realty Limited
• Patanjali Ayurveda Limited
• Torrent Power Limited
• Vedanta Limited

Next Steps in the Resolution Process

The finalized list of eligible PRAs will be contingent upon addressing any concerns raised by the Resolution Professional or his representatives. If any PRAs do not provide the required clarifications, additional information, or supporting documents, they may be omitted from the final list.

Deloitte India Insolvency Professionals LLP is currently supporting Jaiprakash Associates throughout this process.

Background on Insolvency Proceedings

This development follows a ruling by the National Company Law Appellate Tribunal (NCLAT) which dismissed Jaiprakash Associates’ appeal against the admission of the company into insolvency. This decision upheld the National Company Law Tribunal’s (NCLT) order from June 3, affirming the initiation of insolvency proceedings based on a petition filed by ICICI Bank.