Shardul Amarchand Mangaldas Advised Resolution Professional and Monitoring Committee Chairman in Jaiprakash Associates Limited CIRP
The leading law firm in India, Shardul Amarchand Mangaldas & Co. (SAM) acted as legal advisor and counsel to Mr. Bhuvan Madan, Resolution Professional (“RP”) and subsequently Chairman of the Monitoring Committee (“MC”) of Jaiprakash Associates Limited (“JAL”), in relation to the Corporate Insolvency Resolution Process (“CIRP”) and implementation of the approved resolution plan of JAL. The approved resolution plan submitted by Adani Enterprises Limited (“AEL”) has an aggregate plan value of approximately INR 15,343 crore (approximately USD 1.6 billion), while JAL had admitted claims of approximately INR 60,771 crore (approximately USD 6.3 billion).
Jaiprakash Associates Limited is a diversified Indian conglomerate engaged in engineering & construction, real estate, cement, power, fertiliser, and hospitality businesses. The CIRP of JAL was among the most significant and closely watched insolvency processes in India, involving extensive multi-forum litigation, a large and diverse creditor base, substantial homebuyer interests, and interconnected group assets. The approved resolution plan provides for comprehensive stakeholder resolution across multiple business verticals and includes implementation arrangements involving entities such as Adani Power Limited, Adani Ports & Special Economic Zone Limited, and Adani Infra (India) Limited.
The Shardul Amarchand Mangaldas & Co. (SAM) team advising the RP and Chairman of the MC was led by Anoop Rawat (National Practice Head – Restructuring & Insolvency), Sagar Dhawan (Partner), Shreyas Gupta (Principal Associate), Aditya Marwah (Principal Associate), Arushi Chandra (Principal Associate), Ahkam Khan (Senior Associate), Varnika Taya (Senior Associate), Rashi Sharma (Senior Associate), Diksha Sharma (Associate), Ananya Khanna (Associate) and Aditi Rathore (Associate).
The litigation team of Shardul Amarchand Mangaldas & Co. (SAM) comprised Misha (Partner), Vaijayant Paliwal (Partner), Nikhil Mathur (Principal Associate), Prateek Gupta (Principal Associate), Prateek Yadav (Principal Associate), Udbhav Nanda (Senior Associate), Gaurav Arora (Senior Associate), Kirti Gupta (Senior Associate), Rachna Dubey (Associate), Diksha Sharma (Associate), Ananya Khanna (Associate) and Aditi Rathore (Associate).
The real estate team of Shardul Amarchand Mangaldas & Co. (SAM) comprised Rohit Bajaj (Partner) and Shridha Malhotra (Principal Associate). The tax team comprised Sanjiv Malhotra (Partner), Rohit Garg (Partner) and Priyanka Jain (Principal Associate). The SEBI and capital markets team comprised Yogesh Chande (Partner) and Preeti Kapany (Principal Associate).
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