Jaiprakash Associates owes a group of 32 lenders a total of Rs 29,272 crore. The company was among the 26 defaulters that the Reserve Bank of India (RBI) had directed to be taken to the bankruptcy process in 2017.
Dalmia Bharat s acquisition of Jaiprakash Associates cement assets for ₹5,666 crore is facing a legal hurdle due to a shareholder dispute at one of the joint-venture plants involved in the deal. The National Company Law Tribunal (NCLT) has ordered a freeze on Jaypee s shareholding in Jaypee Bhilai Cement, a joint venture between Jaiprakash Associates and Steel Authority of India Limited (SAIL).