New Delhi | March 18, 2026
In a significant development in India’s insolvency landscape, Adani Enterprises has secured approval to acquire debt-laden Jaiprakash Associates for ₹14,535 crore, marking one of the major resolutions under the bankruptcy framework.
The National Company Law Tribunal (NCLT) approved Adani’s resolution plan, rejecting objections raised by Vedanta Ltd. The decision follows strong backing from lenders, with nearly 89% of creditors voting in favor of Adani’s bid in November.
Faster Payout Structure Key to Approval
Adani’s proposal gained an edge due to its structured payout timeline. The plan includes an upfront payment of ₹6,005 crore, with an additional ₹7,600 crore to be paid over the next two years—offering quicker recovery for lenders compared to Vedanta’s staggered five-year payout proposal.
Strategic Asset Acquisition
The deal gives Adani Enterprises access to a diversified portfolio of assets, including:
Cement plants in Uttar Pradesh and Madhya Pradesh with a combined capacity of 6.5 million metric tonnes
Hospitality assets across Delhi-NCR, Mussoorie, and Agra
Stakes in Yamuna Expressway Tolling Limited
Power generation projects
Market Context
Shares of Jaiprakash Associates were trading around ₹2.42, reflecting continued stress, with a market capitalisation of approximately ₹592 crore.
