The acquisition of Jaiprakash Associates Ltd (JAL) by Adani Enterprises Ltd (AEL) marks a significant moment in the ongoing resolution of India’s corporate insolvency cases. Adani secured the Committee of Creditors’ (CoC) approval for its ₹14,535 crore resolution plan for the debt-laden Jaiprakash Group flagship, outbidding rivals like Vedanta and Dalmia Bharat. This approval was formalized when AEL received a Letter of Intent (LOI) on November 19, 2025, following a decisive vote where Adani garnered an impressive 89% of the creditors’ support.
JAL was pushed into the Corporate Insolvency Resolution Process (CIRP) in June 2024 after defaulting on loans that aggregated to a massive ₹57,185 crore. The process was…