DamienLorenz695 at 12:38, 2 April 2026

2026-04-02T12:38:07Z

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{{short description|Indian diversified conglomerate }}
{{Multiple issues|
{{More citations needed|date=December 2022}}
{{More footnotes|date=December 2022}}
}}
{{Use British English|date=March 2013}}
{{Use dmy dates|date=November 2020}}

{{Infobox company
| name = Jaypee Group
| type = [[Public company|Public]]
| logo = Jaypee Group Logo.svg
| logo_size = 200px
| founder = [[Jaiprakash Gaur]]
| foundation = {{start date and age|1958}}<ref>{{cite web|author=Sanjeev Choudhary |url=http://economictimes.indiatimes.com/News/News-By-Company/Corporate-Trends/Jaypee-Group-keeps-head-above-water/articleshow/4311743.cms |title=Jaypee Group keeps head above water |work=The Economic Times |date=25 March 2009 |access-date=24 September 2010}}</ref>
| location = [[Noida]], [[Uttar Pradesh]], India
| industry = [[Conglomerate (company)|Conglomerate]]
| products = {{Plainlist|
*[[Engineering]]
*[[Construction]]
*[[Energy industry|Power]]
*[[Fertilizer]]
*[[Hospitality]]
*[[Healthcare in India|Healthcare]]
*[[Controlled-access highway|Expressways]]
*[[Information Technology]]}}
| num_employees = 8000 (2025)
| key_people =
| revenue = {{down}} {{INRConvert|6612.88|c}} (2021)
| website = {{url|www.jalindia.com}}
}}
[[File:Sardar Sarovar Dam 2006, India.jpg|thumb|[[Sardar Sarovar Dam]], India]]
[[File:Tehri dam india.jpg|thumb|[[Tehri Dam]] India – the largest rock and earth fill dam in Asia, completed by Jaypee]]

'''Jaiprakash Associates Limited''' is an Indian [[Conglomerate (company)|conglomerate]] and the flagship company of the '''Jaypee Group'''. It is headquartered in [[Noida]], Uttar Pradesh, with interests in engineering, construction, power, real estate, hospitality, IT, sports and education (non-profit).<ref>{{Cite web |title=Jaiprakash Associates Management Information - Details of Jaiprakash Associates Management |url=https://economictimes.indiatimes.com/jaiprakash-associates-ltd/infocompanymanagement/companyid-1481.cms |access-date=2024-03-14 |website=The Economic Times |language=en}}</ref> Facing claims of ₹57,185 crore from creditors, Allahabad bench of the [[National Company Law Tribunal]] admitted '''JAL''' for insolvency in 2024.<ref>{{Cite news |date=2025-08-05 |title=JAL insolvency: CCI clears Dalmia Bharat’s bid to acquire Jaiprakash Associates; other bidders include Adani, Vedanta, Jindal Power |url=https://timesofindia.indiatimes.com/articleshow/123122211.cms |access-date= |work=[[The Times of India]] |issn=0971-8257}}</ref> The insolvency proceeding is being administered by resolution professional Bhuvan Madan of [[Deloitte]]. The firm is in the process of being acquired by [[Adani Enterprises]].<ref>{{Cite news |date=2026-03-17 |title=Adani Enterprises' resolution plan for Jaiprakash Associates gets NCLT nod |url=https://economictimes.indiatimes.com/news/company/corporate-trends/nclt-approves-adani-enterprises-resolution-plan-for-jaiprakash-associates/articleshow/129629474.cms |access-date=2026-03-18 |work=The Economic Times |issn=0013-0389}}</ref>

==Overview==
Manoj Gaur is the elder son of Jaiprakash Gaur. He is the Chairman of Jaiprakash Associates Limited. Jaypee has cement production and private sector [[hydropower]] company with 1,700 MW in operation.<ref>{{Cite news |date=2014-10-13 |title=Lenders review Jaypee Group's debt |url=https://economictimes.indiatimes.com/industry/indl-goods/svs/construction/lenders-review-jaypee-groups-debt/articleshow/44806022.cms?from=mdr |access-date=2024-03-14 |work=The Economic Times |issn=0013-0389}}</ref> The Jaypee Group successfully completed projects in 18 states of India and [[Bhutan]]. Jaypee is the engineering and construction company for India's [[Yamuna Expressway]], which opened 9 August 2012.<ref>{{Cite news |last=Sharma |first=Ravi Teja |date=2012-08-09 |title=Yamuna Expressway opening is Jaypee's free ride to Lucknow |url=https://economictimes.indiatimes.com/wealth/personal-finance-news/yamuna-expressway-opening-is-jaypees-free-ride-to-lucknow/articleshow/15420788.cms?from=mdr |access-date=2024-03-14 |work=The Economic Times |issn=0013-0389}}</ref>

JIL, the group flagship, has an engineering and construction wing which mostly supports Jaypee projects. It also has the largest land bank in India's [[National Capital Region (India)|National Capital Region]], i.e., New Delhi. Jaypee has two thermal power plants (Bina Thermal Power plant – 500 MW and Nigrie Thermal Power Plant – 2X660 MW).

==History==
[[Jaiprakash Gaur]] founded the conglomerate in 1979. After acquiring a Diploma in [[Civil Engineering]] in 1950 from the now called [[Indian Institute of Technology Roorkee]] (IITR) in [[Roorkee]], [[Uttarakhand]], he had a stint with the [[Government of Uttar Pradesh]]. Later he became an [[entrepreneur]], starting as a civil contractor in 1958.

* 2014 - In August 2014, [[Shree Cement]] announced that it is set to acquire Jaiprakash Associates' 1.5 million tonne grinding unit at [[Panipat]] for 360 crore.<ref>{{cite news |date=26 August 2014 |title=Shree Cement-JP Associates' Rs. 360 Cr Deal |publisher=Bloomberg TV India |url=http://www.btvin.com/videos/watch/8539/shree-cement-jp-associates%E2%80%99-rs.-360-cr-deal|archive-url=https://web.archive.org/web/20140826161148/http://www.btvin.com/videos/watch/8539/shree-cement-jp-associates%E2%80%99-₹-360-cr-deal|url-status=usurped|archive-date=26 August 2014}}</ref> The Jaypee group has been selling most of its cement assets to reduce its debt.
* 2015 - In September 2015, [[JSW Energy]] acquired two hydropower Projects of Jaiprakash Associates in a deal worth {{INR}} 9,700 crore.<ref>{{cite news |date=28 July 2014 |title=Reliance Power shares up on Jaiprakash hydro-power Deal |publisher=news.biharprabha.com |agency=Indo-Asian News Service |url=http://news.biharprabha.com/2014/07/reliance-power-shares-up-on-jaiprakash-hydro-power-deal/ |access-date=28 July 2014}}</ref>
*2017 - [[UltraTech Cement]] completed the ₹16,189 crore acquisition of Jaiprakash Associates' six integrated cement plants and five grinding units, having a capacity of 21.2 million tonnes.<ref>{{Cite news |title=UltraTech completes acquisition of Jaiprakash group cement business |work=The Economic Times |url=https://economictimes.indiatimes.com/industry/indl-goods/svs/cement/ultratech-completes-acquisition-of-jaiprakash-group-cement-business/articleshow/59372842.cms |access-date=2022-10-11}}</ref>
*2019 - Commissioning of 720 MW Hydro project (having 114 M high concrete dam and underground powerhouse having 4x180 MW generators) for Mangdechhu Hydro Electric Power Project Authority in Bhutan.<ref>{{Cite web |title=Mangdechhu Hydroelectric Project, Bhutan |url=https://www.power-technology.com/projects/mangdechhu-hydroelectric-project-trongsa-dzongkhag/ |access-date=2022-10-11 |website=Power Technology |language=en-US}}</ref><ref>{{Cite web |title=History |url=http://jalindia.com/history.html |access-date=2022-10-11 |website=jalindia.com}}</ref>
*2022 - [[Dalmia Group|Dalmia Bharat]] signed a binding agreement to acquire Jaiprakash Associates’ cement, clinker and power plants at an enterprise value of ₹ 5,666 crore.<ref>{{Cite news |last=Sreedhar |first=Vidya |date=2022-12-12 |title=Dalmia Bharat to acquire Jaypee Group's cement assets for ₹5,666 crore |work=The Economic Times |url=https://economictimes.indiatimes.com/markets/companies/dalmia-bharat-to-acquire-jaypee-groups-cement-assets-for-rs-5600-crore/articleshow/96171183.cms?from=mdr |access-date=2023-02-25 |issn=0013-0389}}</ref><ref>{{Cite web |title=Dalmia inks Rs 5,666-crore deal for Jaypee assets; To buy cement, clinker power units |url=https://www.financialexpress.com/industry/dalmia-inks-rs-5666-crore-deal-for-jaypee-assets-to-buy-cement-clinker-power-units/2910706/ |access-date=2023-02-25 |website=Financialexpress |date=13 December 2022 |language=en}}</ref>
*July 2025 - [[Vedanta Limited|Vedanta]] acquires Jaiparkash Associates in {{INRConvert|17000|c|lk=on|year=2025}} bid.<ref>{{Cite web |date=2025-07-04 |title=Vedanta acquires Jaiparkash Associates in Rs 17,000 crore bid - Financial Express |url=https://www.financialexpress.com/business/industry-vedanta-acquires-jaiparkash-associates-in-rs-17000-crore-bid-beats-adani-group-3968390/ |access-date= |website=[[The Financial Express (India)|Financial Express]] |language=en}}</ref>
*19 November 2025 -<ref name=":0">{{Cite news |date=2026-03-17 |title=Adani Enterprises' resolution plan for Jaiprakash Associates gets NCLT nod |url=https://economictimes.indiatimes.com/news/company/corporate-trends/nclt-approves-adani-enterprises-resolution-plan-for-jaiprakash-associates/articleshow/129629474.cms |access-date=2026-03-18 |work=The Economic Times |issn=0013-0389}}</ref> The [[Adani Group]] received an approval for its bid to acquire the debt-laden Jaiprakash Associates under a {{INRConvert|14535|c|lk=|year=2025}} resolution plan from the Committee of Creditors of Jaiprakash Associates. The group secured a majority votes from the lenders. This plan offered a higher upfront payment than competing bids.<ref>{{Cite news |date=2026-02-21 |title=Adani eyes Formula 1 revival in Greater Noida as part of Jaiprakash takeover strategy |url=https://economictimes.indiatimes.com/news/sports/adani-eyes-formula-1-revival-at-buddh-circuit-as-part-of-jaiprakash-takeover-strategy/articleshow/128646910.cms |access-date=2026-02-23 |work=The Economic Times |issn=0013-0389}}</ref> The firm received a [[Letter of Intent]] (LoI) from the "Resolution Professional" (RP) at 3:05 p.m.<ref name=":0" />
*17 March 2026 - According to [[Adani Enterprises]], a part of the Adani Group, the [[National Company Law Tribunal]] (NCLT) has approved the their resolution plan. However, according to Jaiprakash Associates, since the liquidation value of the Successful Resolution Applicant is insufficient to even satisfy the claims of secured creditors in full, NIL consideration is being offered to the shareholders of the Corporate Debtor as part of the delisting process under the Approved Resolution Plan, and the exit price for the existing shareholders is therefore NIL.<ref name=":0" />
*22 March 2026 - Vedanta Group moved [[NCLAT]]<nowiki/>against approval of Adani's resolution plan which secured 89% votes from the lenders of Jaiprakash Associates. The case will be heard of on 23 Match in front of a two member bend, including Chairperson Justice [[Ashok Bhushan]] and Member (Technical) Barun Mitra.<ref>{{Cite web |last= |date=2026-03-23 |title=Vedanta moves NCLAT, challenges NCLT nod to Adani's bid for acquiring Jaiprakash Associates |url=https://legal.economictimes.indiatimes.com/news/litigation/vedanta-challenges-nclt-approval-of-adanis-bid-for-jaiprakash-associates-in-nclat/129745532 |access-date=2026-03-23 |website=ETLegalWorld.com |language=en}}</ref>
*24 Match 2026 - Vedanta lost the case as <nowiki/>the NCLAT bench refused to provide any interim relief at this stage.<ref>{{Cite web |last=Thyagarajan |first=S. N. |date=2026-03-25 |title=NCLAT refuses interim plea by Vedanta to halt Adani's resolution plan for Jaiprakash Associates |url=https://www.barandbench.com/news/litigation/nclat-refuses-interim-plea-by-vedanta-to-halt-adanis-resolution-plan-for-jaiprakash-associates |access-date=2026-03-26 |website=Bar and Bench - Indian Legal news |language=en}}</ref>

== Controversies ==

* In November 2017, the Supreme Court of India barred the directors from selling their personal assets.<ref>{{Cite web |last=www.ETRealty.com |title=SC bars Jaypee promoters, directors from selling personal assets - ET RealEstate |url=https://realty.economictimes.indiatimes.com/news/regulatory/sc-bars-jaypee-promoters-directors-from-selling-personal-assets/61751016 |access-date=2022-10-11 |website=ETRealty.com |language=en}}</ref>
* Due to debt, Jaiprakash Associates did not pay back its fixed deposit holders on time.<ref>{{cite web|title=Letter to fixed deposit holders|url=http://www.jalindia.com/FD/thank-you-depositors-01-07-2016.pdf|publisher=Jalindia.com|access-date=20 February 2017}}</ref> [[National Company Law Tribunal|The National Company Law Tribunal]] had extended the deadline to 31 March 2017 to settle the same.<ref>{{cite web|title=NCLT order|url=https://www.dailytechtuts.com/wp-content/uploads/nclt-order.pdf|access-date=20 February 2017}}</ref><ref>{{Cite web|title=SFIO to probe Jaiprakash Associates, Jaypee Infratech for financial irregularities|url=https://www.newindianexpress.com/business/2020/may/27/sfio-to-probe-jaiprakash-associates-jaypee-infratech-for-financial-irregularities-2148654.html|access-date=2020-10-27|website=The New Indian Express|date=27 May 2020 }}</ref>
* As of 2022, the company had attracted the notice of several US-based mutual funds and ETFs, who reported owning significant positions in the company. Investors in the company include [[Dimensional Fund Advisors]] and [[WisdomTree]].<ref>{{Cite web|title=Jaiprakash Power Ventures Institutional Ownership|url=https://fintel.io/so/in/jppower|access-date=2022-02-23|website=Fintel}}</ref>

==References==
{{Reflist}}

==External links==
* {{Official website}}

{{Jaypee Group}}
{{Authority control}}

[[Category:Jaypee Group| ]]
[[Category:Companies based in Noida]]
[[Category:Companies listed on the Bombay Stock Exchange]]
[[Category:Companies listed on the National Stock Exchange of India]]
[[Category:Indian brands]]
[[Category:Indian companies established in 1979]]
[[Category:Conglomerate companies established in 1979]]
[[Category:1979 establishments in Uttar Pradesh]]

Jaypee Group - Revision history

DamienLorenz695 at 12:38, 2 April 2026