NCLT approves Adani's ₹14,535 crore bid for Jaiprakash Associates
after close1 source ↓written by the desknot a recommendation
- aimed at Jaiprakash
- ₹14,535 crore
The National Company Law Tribunal (NCLT) has approved Adani Enterprises' resolution plan for ₹14,535 crore aimed at Jaiprakash Associates, marking a significant step in its insolvency resolution. The approval follows a competitive bidding process, where Adani outbid Vedanta and Dalmia Bharat. This decision is pivotal for JAL, which has faced substantial loan defaults.
Not investment advice. For informational purposes only.