THEBUSINESSBYTES
BUREAU
NEW
DELHI, MARCH 17, 2026
In a significant
development for India’s insolvency landscape, the National Company Law Tribunal
(NCLT) on Tuesday approved Adani Enterprises Ltd's ₹14,535 crore bid to acquire the
bankrupt Jaiprakash Associates Ltd through the insolvency
process, marking a major step in resolving one of the country’s high-profile
stressed assets.
In a regulatory
filing, Jaiprakash Associates Ltd (JAL) informed that the NCLT, Allahabad
bench, has "orally pronounced an order on March 17, 2026 "approving
the resolution plan submitted by Adani Enterprises Ltd.
The approval follows the earlier endorsement of the resolution plan by the Committee of Creditors (CoC) in November last year, when lenders backed the proposal led by industrialist Gautam Adani to take over JAL.
The clearance from the tribunal paves the way for the Adani Group to expand its footprint in infrastructure and allied sectors, while offering a potential lifeline to creditors seeking recovery from the debt-laden company. The move is also expected to reinforce confidence in India’s insolvency framework by demonstrating progress in resolving large corporate distress cases.
