Overview

• Five firms including Adani Enterprises, Vedanta, Jindal Steel & Power, Dalmia Bharat and PSP Projects submitted resolution plans by the June 24 deadline
• Committee of Creditors opened the bids on June 25 and has started evaluating each proposal’s value and structure
• Suraksha Group’s bid via Jaypee Infratech was disqualified after failing to provide the mandatory bank guarantee
• NARCL leads a consortium of creditors including SBI, Punjab National Bank, ICICI Bank and IDBI Bank with total claims exceeding Rs57,000 crore
• Creditors say they may opt for a piecemeal sale of cement, power, real estate and hospitality assets if no proposal meets recovery targets