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Jaiprakash promoter has proposed an ₹18,000 crore revival plan that tops Vedanta and Adani offers; lenders demand proof of upfront funding before the CoC vote.
What happened
The promoter of Jaiprakash Associates has submitted a fresh ₹18,000 crore resolution plan to regain control of the debt-laden company. The offer tops competing bids from Vedanta and the Adani Group, but lenders have flagged funding certainty—especially proof of the proposed ₹5,000 crore upfront payment—as the main obstacle before a vote by the Committee of Creditors (CoC) next month.
Key details of the ₹18,000 crore plan
- Promoter’s bid value: ₹18,000 crore — higher than Vedanta’s ₹17,000 crore and Adani’s lower offer.
- Funding concerns: lenders want evidence of financing for the ₹5,000 crore upfront sum.
- Voting timeline: the CoC will circulate its evaluation note early next month, with voting likely around mid-November.
Why land parcels around Greater Noida matter
Jaiprakash Associates holds substantial land parcels around Greater Noida and the Noida Expressway. A reversal of an adverse order related to these holdings and the Yamuna Expressway Industrial Development Authority (YEIDA) could unlock an estimated ₹7,000–8,000 crore in value. Those land assets are also central to broader sector dynamics driven by infrastructure—see how transport projects influence premium zones in Delhi metro expansion luxury property hotspots.
Lenders’ priorities and what they will assess
The Committee of Creditors is evaluating multiple resolution plans, though scoring favours higher upfront cash and demonstrable funding sources. Credible proof that the promoter can mobilise the initial payment will be decisive. Without this, lenders may prefer bidders with transparent financing lines and immediate liquidity.
Implications for buyers, investors and NRIs
For investors tracking distressed real-estate recoveries, the outcome will affect recovery ratios and land supply in high-demand corridors. NRIs and overseas investors eyeing parcels or projects tied to this resolution should prioritise comprehensive checks—learn more about NRI property due diligence in India to understand title risks, regulatory clearances and transferability.
Broader market outlook
If the promoter’s plan is backed by credible funding and any favourable legal reversals, recoveries could improve and release land for development, influencing prices and supply on the Noida Expressway and neighbouring markets. These developments sit within a larger backdrop for the sector; for a strategic view, compare this case against wider trends in the Indian real estate outlook 2026.
What to watch next
- Proof of funding for the promoter’s ₹5,000 crore upfront payment.
- The CoC’s evaluation note and the mid-November vote outcome.
- Any legal reversals on YEIDA or other land-related orders that might unlock additional value.
For buyers, lenders and local developers, the resolution outcome will shape land availability, developer confidence and recovery expectations across the Delhi–Noida–Gurgaon market.
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