Stock Market News: Share fell from ₹ 538 to ₹ 3, now the company is being sold:

News Topical, Digital Desk : At one time, it was the most favourite stock of traders in the stock market. But the situation changed and the company's stock started declining, as the debt on the company started increasing rapidly. The stock fell from Rs 538 to Rs 1. But now the company is going to be sold. This company has cement plants, real estate projects, toll roads and power plants and the most talked about project was Noida Sports City, which is now in legal trouble.

Yes, we are talking about Jaiprakash Associates.

There is news that Dalmia Bharat has made the biggest bid. Dalmia Bharat has made the biggest bid in the bankruptcy process (IBC) going on for Jaiprakash Associates Ltd (JAL). Dalmia Bharat has made a bid of ₹14,600 crores. But this offer depends on the Supreme Court's decision on the Noida Sports City land dispute. If the decision goes against JAL, then Dalmia can reduce its offer by ₹2,000 crores. This dispute related to about 1,000 hectares of land started with YEIDA cancelling JAL's land in 2023. Allahabad High Court also justified the cancellation, but now the matter is pending in the Supreme Court, which has been challenged by JAL's interim resolution professional. Vedanta Group: Bid of ₹13,600 crores, but can withdraw the offer if the court does not give a decision. Adani Group: Offer of ₹12,250 crore, with some amount to be paid in the form of NCDs over four years. Jindal Power: Bid of ₹10,300 crore. PNC Infratech: The lowest offer is of ₹9,500 crore. All these bids have some conditions attached, especially regarding the land dispute.

Debt of Rs 57,185 crore, NARCL the biggest claimant JAL has a total debt of ₹57,185 crore, with National Asset Reconstruction Company Ltd (NARCL) being the biggest lender.

What Jaiprakash Associates has Cement plants, real estate projects, toll roads and power plants, but the most talked about project was Noida Sports City, which is now in legal trouble.

What next? Lenders will now talk to all five bidders and it is possible that revised proposals may be sought before the final bid. The entire matter is dependent on the decision of the Supreme Court. If the court reverses YEIDA's decision to cancel the land, then Dalmia Bharat's deal can go ahead. But if the decision goes against JAL, then there can be a big change in all the bids.