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NCLAT dismisses Vedanta plea against Adani’s Jaiprakash Associates bid, upholds NCLT order

The National Company Law Appellate Tribunal (NCLAT) on Monday dismissed two petitions filed by Vedanta Ltd, which had challenged the selection of Adani Enterprises’ resolution plan for debt-laden Jaiprakash Associates Ltd (JAL).A two-member bench comprising Chairperson Ashok Bhushan and Member Technical Barun Mitra held that no grounds had been made out to interfere with the…

NCLAT dismisses Vedanta’s plea to halt Adani’s resolution plan for Jaiprakash Associates

The CoC comprised 27 members, including banks, financial institutions and a class of homebuyers. A total of 28 expressions of interest were received during the process, of which 25 prospective resolution applicants were shortlisted. Ultimately, six bidders submitted resolution plans, including Adani Enterprises Limited, Vedanta Limited, Dalmia Cement (Bharat) Limited, Jindal Power Limited, PNC Infratech…

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