The race to acquire Jaiprakash Associates under the bankruptcy route is entering its final lap, with final bids due in early June. Two people directly aware of the matter told CNBC-TV18 that the insolvency resolution professional of the company, Bhuvan Madan, has invited final bids for the debt-ridden conglomerate by June 9.
A total of 26 suitors had submitted Expressions of Interest (EOIs) to acquire Jaiprakash Associates Ltd (JAL) under the Insolvency and Bankruptcy Code (IBC), including Adani Enterprises, Vedanta Group, Dalmia Cement and others, as first reported by CNBC-TV18 on March 25. Out of these 26 suitors, Asset Reconstruction Company (India) Ltd’s name was not included in the final list of provisional resolution applicants…
