Jai Corp's vice chairman Virendra Jain and his son Ankit Jain have acquired Chennai-based steel company Kamachi Industries for ₹487 crore. The company produces thermomechanically treated steel bars for construction, facing insolvency proceedings due to default on ₹2,200 crore loans. Their bid was approved by the National Company Law Tribunal after offering the highest bid. Virendra Jain has also bid for Rolta India.
