In November last year, the CoC of JAL approved Adani Enterprises Ltd’s Rs 14,535 crore bid to acquire its assets through the insolvency process.
On March 17, the National Company Law Tribunal (NCLT), Allahabad bench, approved the bid. However, the same has been challenged by Vedanta, which made a bid of Rs 17,926 crore, in the appellate tribunal NCLAT. The matter is currently being heard in the NCLAT, which had refused to put an interim stay on the NCLT’s decision. Even the Supreme Court did not stay the NCLT order.
“I have every confidence that under the leadership of Gautam Adani, the legacy of Jaiprakash Associates will be carried forward with renewed energy, responsibility, and purpose, ensuring that the aspirations of all…