The National Company Law Tribunal has approved Adani Enterprises Ltd.’s ₹14,535 crore ($1.74 billion) resolution plan to acquire bankrupt infrastructure heavyweight Jaiprakash Associates Ltd. The ruling, delivered orally by NCLT’s Allahabad bench on Tuesday, 17 March 2026, marks the culmination of a high-stakes insolvency process and hands billionaire Gautam Adani a sprawling portfolio of cement, real estate, and hospitality assets.
The landmark decision formally dismisses a legal challenge mounted by rival bidder Vedanta Ltd., clearing the path for one of…