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The Supreme Court of India on Monday declined to stay proceedings in a plea filed by Vedanta Limited challenging the approval of AdGroup’s resolution plan for the takeover of insolvent Jaiprakash Associates Limited.A Bench led by Chief Justice of India Surya Kant observed that since the appeal is likely to be decided shortly by the…
Business conglomerate Vedanta Group has approached the National Company Law Appellate Tribunal (NCLAT), challenging the NCLT’s approval to Adani Group‘s bid for acquiring Jaiprakash Associates Ltd for Rs 14,535 crore. Anil Agarwal-led Vedanta Group was in the race to acquire Jaiprakash Associates Ltd (JAL) through an insolvency process, but the lenders in November last year…
The National Company Law Tribunal (NCLT) on Tuesday approved Adani Enterprises Ltd’s Rs 14,535 crore bid to acquire Jaiprakash Associates Ltd through the insolvency process. In a regulatory filing, Jaiprakash Associates Ltd (JAL) informed that the NCLT, Allahabad bench, has “orally pronounced an order on March 17, 2026 “approving the resolution plan submitted by Adani…
Creditors of Jaiprakash Associates have unanimously voted in favour of Gautam Adabi-led Adani Enterprises’ resolution plan, choosing it over Vedanta despite the latter placing the highest overall bid in a September e-auction, people familiar with the discussions told ET.Jaiprakash Associates (JAL), which owes lenders Rs 55,000 crore, was admitted into insolvency proceedings in June last…
