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 order of the National Company Law Tribunal (NCLT), which had approved the resolution process.
“There is no merit in the appeal. Both appeals are dismissed,” the tribunal said, adding that there were “no orders to pass”.
“There is no merit in the appeal. Both appeals are dismissed,” the tribunal said, adding that there were “no orders to pass”.
The tribunal also upheld the decision of the Committee of Creditors (CoC), stating that it was taken in the exercise of “commercial…