The National Company Law Tribunal (NCLT) has approved the resolution plan submitted by Adani Enterprises Ltd (AEL) for the bankrupt Jaiprakash Associates Ltd (JAL) under the Insolvency and Bankruptcy Code, 2016.
In an exchange filing, Adani Enterprises said the tribunal had orally pronounced its order on March 17, 2026, approving the resolution plan dated October 14, 2025. The company had earlier emerged as the successful resolution applicant following a competitive bidding process.
The approval marks a key milestone in the corporate insolvency resolution process (CIRP) of JAL, a diversified infrastructure and construction company that defaulted on substantial loan obligations.
A ₹14,535 Crore Bid in a Competitive Process
Adani…