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Bhilai Jaypee Cement enters insolvency over ₹45 crore coal debt, adding to Jaypee group's ongoing financial restructuring.
The National Company Law Tribunal has ordered insolvency proceedings against Bhilai Jaypee Cement, a subsidiary of Jaiprakash Associates, over a ₹45 crore default to operational creditor Sidhgiri Holdings for coal supplies.
The Cuttack bench admitted a petition under the Insolvency & Bankruptcy Code, finding no dispute over coal delivery, invoices, or the debt.
An interim resolution professional was appointed, the board suspended, and a moratorium on assets imposed.
The move adds to the financial restructuring of the Jaypee group, which is already undergoing insolvency, with Vedanta’s ₹17,000 crore bid winning approval.
Bhilai Jaypee Cement entra en insolvencia por una deuda de carbón de ₹ 45 crores, lo que se suma a la reestructuración financiera en curso del grupo Jaypee.