Folalumi Alaran in Abuja

The Managing Director of the Nigeria Deposit Insurance Corporation (NDIC), Mr. Thompson Sunday, has called for deeper collaboration with the Business Recovery and Insolvency Practitioners Association of Nigeria (BRIPAN) to strengthen the nation’s financial stability architecture and promote sound insolvency practice.

Mr. Sunday made the call when the President of BRIPAN, Mr. Chimezie Ihekweazu, led members of the association on a courtesy visit to the NDIC headquarters in Abuja.

Commending the association for its role in harmonising Nigeria’s insolvency laws, the NDIC boss described the achievement as “a significant milestone that has contributed immensely to improving the ease of doing…

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Adani Enterprises Ltd is likely to emerge as the highest bidder to acquire Jaiprakash Associates Ltd (JAL) through the insolvency process, as its offer to make payments within two years has been found superior to Vedanta Group’s five-year plan, according to a PTI report.

In early September, Vedanta had beaten the Adani Group to emerge as the top bidder with an offer valued at ₹12,505 crore (net present value) in an auction carried out by lenders seeking suitors for the debt-laden JAL, which operates in real estate, cement, power, hotels, and infrastructure. Dalmia Cement (Bharat) Ltd, Jindal Power Ltd, and PNC Infratech Ltd did not participate in that round.

Subsequently, lenders initiated negotiations with all five interested…

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New Delhi: Adani Enterprises Ltd is likely to emerge as the highest bidder to acquire Jaiprakash Associates Ltd (JAL) through insolvency process as its offers to pay acquisition amount in two years have been found better than Vedanta‘s bid to make payments in five years, sources said.

In early September, mining conglomerate Vedanta Group had beaten Adani Group to emerge as the highest bidder, with an offer of Rs 12,505 crore as net present value (NPV), in an auction carried out by lenders to find suitors for JAL, whose interests span real estate, cement, power, hotels, and road.

Dalmia Cement (Bharat) Ltd, Jindal Power Ltd, and PNC Infratech Ltd did not bid in the auction process.

Later, the lenders held negotiations with these five…

New Delhi: Adani Enterprises Ltd is likely to emerge as the highest bidder to acquire Jaiprakash Associates Ltd (JAL) through insolvency process as its offers to pay acquisition amount in two years have been found better than Vedanta‘s bid to make payments in five years, sources said. In early September, mining conglomerate Vedanta Group had beaten Adani Group to emerge as the highest bidder, with an offer of Rs 12,505 crore as net present value (NPV), in an auction carried out by lenders to find suitors for JAL, whose interests span real estate, cement, power, hotels, and road.

Dalmia Cement (Bharat) Ltd, Jindal Power Ltd, and PNC Infratech Ltd did not bid in the auction process.

Later, the lenders held negotiations with these five…

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This report explains a legal decision made by the National Company Law Tribunal (NCLT) in Jaipur regarding a company called Jaipur Metals & Electricals Limited. This company is currently in a formal insolvency process, which is a legal procedure for companies that cannot pay their debts. The main conflict was between the court-appointed official responsible for the company, known as the Resolution Professional (RP), and the company’s previous management, which includes high-ranking officials from the State of Rajasthan. The core problem was that the State Government and the suspended managers refused to hand over control of the company’s assets and records to the RP, which they are legally required to do.

The…