JAL insolvency: Lenders reject Jaypee Infratech’s request to accept its bid to acquire bankrupt firm
Lenders of Jaiprakash Associates Ltd (JAL) have turned down Jaypee Infratech‘s request to accept its resolution plan to acquire the bankrupt diversified company. Five companies — Adani Enterprises, Vedanta Group, Dalmia Bharat Cement, Jindal Power and PNC Infratech — have submitted their resolution plans to acquire JAL. However, lenders of JAL, on June 25, had…