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News insolvency

Displaying items by tag: insolvency

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Competition Commission of India approves Dalmia Cement’s acquisition of Jaiprakash Associates

06 August 2025

India: The Competition Commission of India (CCI) has approved the 100% acquisition of Jaiprakash Associates by Dalmia Cement (Bharat). The transaction is part of a corporate insolvency resolution process (CIRP) under the Insolvency and Bankruptcy Code 2016.

Dalmia Cement (Bharat) is a wholly owned subsidiary of Dalmia Bharat, the ultimate parent of the Dalmia Bharat Group.

Published in Global Cement News
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Khayah Cement enters corporate rescue proceedings

02 January 2025

Zimbabwe: Khayah Cement has initiated corporate rescue proceedings due to the impacts of Western-imposed economic sanctions, which have created an ‘untenable’ business environment, according to The Chronicle. The company adopted a resolution on 20 December 2024 to start the rescue process under the Insolvency Act, to address its financial difficulties. The sanctions have reportedly hindered access to essential resources, affecting the company’s production capabilities. Khayah Cement said that further processes will be communicated to creditors and stakeholders.

Published in Global Cement News
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Adani Group to acquire Jaypee Group's cement assets

19 July 2024

India: Adani Group is planning to acquire cement assets from Jaypee Group, which include over 9Mt/yr of cement capacity, following Jaiprakash Associates' insolvency proceedings initiated in early June 2024. The National Company Law Tribunal in Allahabad admitted Jaiprakash Associates for corporate insolvency on 3 June 2024. Adani would acquire significant assets in the deal, including limestone mines and a power plant, although formal asset sale processes have not yet commenced.

Published in Global Cement News
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Tribunal orders insolvency proceedings against Vadraj Cement

05 February 2024

India: The National Company Law Tribunal has initiated a corporate insolvency resolution process for Vadraj Cement. The former cement producer defaulted on US$10.5m in debts owed to Punjab National Bank. Mint News has reported that Vadraj Cement has total debts of US$843m.

Published in Global Cement News
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ABG Shipyard seeks buyer for Vadraj Cement

17 November 2023

India: ABG Shipyard plans to sell Vadraj Cement, which owns a decommissioned clinker unit and grinding unit, as well as quarries and a jetty, in Kutch, Gujarat. The National Company Law Tribunal took over winding up proceedings for the former cement producer in September 2023. The Economic Times newspaper has reported JSW Cement, Adani Group and steel producer ArcelorMittal Group as potential buyers for the business. It expects Vadraj Cement to attract a price of US$240 – 300m, against debts of US$841m.

Published in Global Cement News
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