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Vedanta Contests Adani's ₹14,535 Crore Jaiprakash Associates Takeover at NCLAT
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Vedanta Challenges Adani's ₹14,535 Cr Jaiprakash Associates Acquisition in NCLAT
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CNBC TV18
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22-03-2026, 19:01
Vedanta Challenges Adani's ₹14,535 Cr Jaiprakash Associates Acquisition in NCLAT
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Vedanta Group has approached NCLAT, challenging NCLT's approval of Adani Group's bid for Jaiprakash Associates Ltd (JAL).
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Adani Enterprises Ltd's ₹14,535 crore bid for JAL was approved by NCLT, Allahabad bench, on March 17.
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Vedanta was also in the race to acquire JAL through an insolvency process, but Adani's plan was approved by lenders.
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Adani Enterprises outbid Vedanta and Dalmia Bharat, securing 89% of creditor votes.
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JAL, with diverse assets including real estate and cement, was admitted to CIRP after defaulting on ₹57,185 crore loans.
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