Adani Group pays ₹6,000 crore to Jaiprakash lenders
pre-market1 source ↓written by the desknot a recommendation
- to lenders
- ₹6,000 crore
- resolution plan
- ₹14,535 crore
- of Jaiprakash's admitted
- 85.43%
Adani Group has paid ₹6,000 crore to lenders of Jaiprakash Associates as part of a ₹14,535 crore resolution plan, marking a significant step in a prolonged insolvency case. This payment, funded through internal accruals, follows judicial clearance after dismissing Vedanta Group's challenge. Lenders are set to receive a substantial amount after a long wait.
• 85.43% of Jaiprakash's admitted debt is held by the National Asset Reconstruction Co (NARCL).
• Other lenders include Asset Care & Reconstruction Company.
This resolution may boost lender confidence in the sector.
Not investment advice. For informational purposes only.