Adani Enterprises has secured approval from the creditors of Jaiprakash Associates Ltd (JAL) for its ₹13,500‑crore takeover plan, edging out a higher ₹17,000‑crore bid from Vedanta Ltd. Lenders cited faster repayment terms as the key factor, with Adani’s plan expected to settle debts within 18–24 months compared with Vedanta’s five-year schedule.
JAL has been under insolvency proceedings since June 2024, with total debt estimated at ₹55,000–57,000 crore. The Committee of Creditors (CoC), led by the National Asset Reconstruction Company (NARCL), will now submit the resolution plan to the National Company Law Tribunal (NCLT) for final approval.
The market responded positively, with Jaiprakash Power Ventures Ltd (JP Power), where JAL holds a 24% stake, rising nearly 9%. Analysts say the Adani takeover could stabilize JAL and support value creation across its businesses.
Some observers note potential legal challenges, but the general consensus is that Adani’s plan is well-positioned for smooth execution.
