In a major development in one of India’s largest insolvency cases, the National Company Law Tribunal has approved the resolution plan submitted by the Adani Group to acquire Jaiprakash Associates Limited.
The deal, valued at around ₹14,535 crore, marks a crucial step toward resolving the long-standing financial crisis of the company, which was once a dominant force in infrastructure, real estate, and construction. The approval brings closure to years of uncertainty around the company’s future.
The background
Here is a quick breakdown of the events:
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The Debt: When JAL was admitted to the Corporate Insolvency Resolution Process (CIRP) in June 2024, it had defaulted on loans from a…