Jaiprakash Associates Limited has informed the Exchange about Corporate Insolvency Resolution Process - Provisional List of Prospective Resolutions Applicants
Awaiting price reaction for this filing.
Jaiprakash Associates Limited is currently undergoing the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code. The Resolution Professional has issued a provisional list of entities that have expressed interest in submitting resolution plans to revive the company. This is a routine procedural step that follows the admission of insolvency proceedings by the NCLT. Potential bidders typically include banks, financial institutions, promoter-linked entities, and other strategic or financial investors. The final list of eligible resolution applicants will be published after the RP verifies their eligibility under Section 30 of the IBC.
Existing shareholders should brace for significant value erosion, as the IBC waterfall prioritises secured creditors, financial creditors, and operational creditors over equity holders, who usually receive minimal or no recovery. Any resolution plan is likely to involve restructuring, dilution, or write-off of current equity.