Adani Jaiprakash NCLT Approval: Small-cap stock Jaiprakash Associates Ltd (JAL) has received a major development in its insolvency proceedings after the National Company Law Tribunal (NCLT) approved Adani Enterprises‘ ₹14,535 crore bid to acquire Jaiprakash Associates Ltd through the insolvency process. This marks a stark outcome for equity holders, for whom nearly ₹400 crore of investor wealth is set to be wiped out following the approval of Jaiprakash Associates’ resolution plan.
The approval, announced on March 17, 2026, marks a crucial step in resolving the company’s long-standing financial stress under the Insolvency and Bankruptcy Code (IBC), 2016.
“We hereby inform you that the Hon’ble NCLT has orally pronounced an…