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 Enterprises Ltd.
In November last year, a Committee of Creditors (CoC) approved the resolution plan by business tycoon Gautam Adani to acquire JAL.
Adani Enterprises won the approval of the creditors of JAL for its Rs 14,535 crore acquisition proposal for the bankrupt infrastructure group. It outbid Vedanta and Dalmia Bharat to win the bid for JAL. The COC of JAL, a company undergoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code 2016 (IBC), has approved the resolution plan submitted by Adani Enterprises Limited (AEL),” AEL had said in a stock exchange filing.