Legacy of Jaiprakash Associates will be carried forward under Adani: Jaiprakash Gaur

Jaypee Group founder Jaiprakash Gaur said he is confident that the legacy of Jaiprakash Associates Limited will be carried forward under the leadership of the Adani Group, following its selection as the successful resolution applicant, a statement showed on Friday.

“I have every confidence that under the leadership of Shri Gautam Adani, the legacy of Jaiprakash Associates will be carried forward with renewed energy, responsibility, and purpose, ensuring that the aspirations of all stakeholders are fulfilled,” Gaur said.

Also Read: SC refuses to interfere with order allowing Adani to acquire Jaiprakash Associates in blow to Vedanta


The Committee of Creditors (CoC) has selected the Adani Group as the successful resolution applicant, a decision Gaur said he fully respects.

“The Committee of Creditors has selected the Adani Group as the successful Resolution Applicant, and we fully respect this decision,” he said.

Gaur also described the insolvency resolution process as fair and transparent, appreciating the role of the Committee of Creditors and the resolution professional in conducting the exercise.

He noted that the period had been challenging for stakeholders, including homebuyers, employees, lenders and partners, but said efforts were made to ensure a credible resolution.

The development comes amid an ongoing legal tussle over the insolvency resolution of Jaiprakash Associates, with the Supreme Court of India recently declining to stay the takeover by Adani Group. Rival bidder Vedanta Group has challenged the process, arguing that its higher offer was overlooked and alleging lack of transparency, while lenders have defended their decision, citing stronger upfront cash, execution certainty and faster repayment under Adani’s plan.

Gaur thanked the Vedanta Group for its participation and interest in the process on Friday.

Also Read: Vedanta tells Supreme Court its revised Jaypee bid tops Adani offer

Founded in 1979, Jaiprakash Associates has developed major infrastructure and real estate assets, including the Buddh International Circuit, hydropower projects, cement capacity and integrated townships such as Jaypee Wish Town, Jaypee Greens and Jaypee Sports City.

The company entered insolvency proceedings after facing financial stress, with the resolution process aimed at addressing its debt and ensuring continuity of operations under new ownership.