New Delhi: Adani Group’s resolution plan for Jaiprakash Associates Limited (JAL) has received approval from the National Company Law Appellate Tribunal (NCLAT), which dismissed Vedanta’s appeal challenging the process.
A Bench comprising Chairperson Justice (Retd.) Ashok Bhushan and Technical Member Barun Mitra upheld the earlier order of the National Company Law Tribunal (NCLT), and said there were no grounds to interfere with the decision of the adjudicating authority.
The tribunal also held that the Committee of Creditors (CoC) was justified in rejecting Vedanta’s resolution plan.
NCLAT observed that the CoC’s decision taken in its 24th meeting on November 14, 2025 to not consider the addendum was neither invalid nor…