Adani Ports and Special Economic Zone Ltd (APSEZ) has expressed in-principle interest in becoming one of the implementing entities under the insolvency resolution plan for Jaiprakash Associates Limited (JAL), signalling the Adani Group’s continued push to pick up strategic assets through bankruptcy proceedings.
In a stock exchange filing, APSEZ said the resolution plan submitted by Adani Enterprises Limited for JAL has been approved by the National Company Law Tribunal (NCLT), Allahabad bench, Prayagraj, on March 17, with the order uploaded on March 18.
The approved plan allows Adani Enterprises to nominate one or more “implementing entities” to execute the resolution, including through acquisition of specific assets from JAL. APSEZ…