Jindal Power Receives CCI Nod for Acquisition of Jaiprakash Associates
Jindal Power Limited has received in-principle approval from the Competition Commission of India (CCI) for acquisition of debt-ridden Jaiprakash Associates Limited (JAL).
Jaiprakash Associates Under Insolvency Process
Jaiprakash Associates was admitted into the Corporate Insolvency Resolution Process (CIRP) through an order issued by the National Company Law Tribunal (NCLT), Allahabad Bench, dated 3rd June 2024. The company entered insolvency proceedings after defaulting on loan repayments.
The total claims filed by creditors against the company amount to a whopping Rs. 57,185 crore.
Brief Details of JAL’s Assets
Jaiprakash Associates owns major real estate developments such as Jaypee Greens in Greater Noida, and Jaypee International Sports City near the upcoming Jewar airport. Apart from this, JAL also owns three commercial office spaces in Delhi-NCR and five properties in Delhi NCR, Mussoorie, and Agra owned by its hotels business vertical.
Apart from this, JAL owns about 24% stake (As of June, 2025) in its subsidiary, Jaiprakash Power Ventures Ltd., which deals in thermal and hydroelectric power generation along with coal and sand mining, and cement grinding. Other subsidiaries of the company include Yamuna Expressway Tolling Ltd. which is 100% owned by JAL, and Jaypee Infrastructure Development Ltd.
JAL also owns a total of four cement plants located in Madhya Pradesh and Uttar Pradesh, and has leased limestone mines in Madhya Pradesh. The cement plants, however, are non-operational.
Multiple Bidders Show Interest in the Acquisition
Interestingly, apart from Jindal Power several other major companies including PNC Infratech, Adani Group, and Dalmia Bharat, have also received approval from the Competition Commission of India to pursue the acquisition of Jaiprakash Associates.
Following these approvals, the Committee of Creditors (CoC) of Jaiprakash Associates Limited will review the resolution plans submitted by these interested parties. The voting on the final selection is expected to take place in due course.
Vedanta and Dalmia Bharat Among Other Key Contenders
The Vedanta Group has also approached the CCI seeking permission to submit its own resolution plan to the CoC of Jaiprakash Associates. Earlier, in August 2025, the CCI had cleared Dalmia Bharat’s proposal for submitting its resolution plan to acquire Jaiprakash Associates.
Jindal Power’s Interest in Jaiprakash Associates
For Jindal Power, acquiring JAL’s assets would strengthen its power portfolio. These power assets are either in the form of captive power plants associated with JAL’s cement plants, or in the form of power projects of JAL’s subsidiary, Jaiprakash Power Ventures (JVPL).
As on 31stMarch 2025, JAL’s captive power plants for its cement division amounted to 279 MW of installed capacity, with 62 MW located in MP, and the remaining 217 MW located in UP. As for JVPL, it operates 3 power plants aggregating to a total generation capacity of 2,220 MW. These include the 1,320 MW (2×660 MW) Jaypee Nigrie Supercritical Thermal Power Plant in MP’s Singrauli, a 500 MW (2×250 MW) Thermal Power Plant in MP’s Sagar, and a 400 MW Hydro Power Plant in Uttarakhand.
If the Committee of Creditors (CoC) approves its resolution plan of Jindal power for acquiring Jaiprakash Associates, the acquisition can progress toward finalisation.
About Jindal Power Limited: Jindal Power Limited is part of the OP Jindal Group and operates power generation projects in Chhattisgarh and other regions, with a focus on coal-based and renewable energy projects. This company is founded in 2005 and is headquartered in Gurugram, Haryana.
About Jaiprakash Associates Limited: Jaiprakash Associates Limited (JAL), a flagship company of the Jaypee Group, was founded in 1979. The company has diversified interests in engineering, construction, cement, power, real estate, and hospitality.
