NCLAT clears Adani's Rs 14,535 cr Jaiprakash takeover, dismisses Vedanta challenge
Appellate tribunal upheld Adani Enterprises' winning IBC bid for debt-laden Jaiprakash Associates, finding 'no merit' in Vedanta's appeal. Adani's Rs 6,000 cr upfront payout and tighter timeline beat Vedanta's higher Rs 16,000 cr gross offer. Banks recover ~25.4% on Rs 57,185 cr loans; admitted claims totalled Rs 5.44 lakh cr.
What happened
NCLAT dismissed Vedanta's appeal, upholding Adani Enterprises' Rs 14,535 crore winning bid for debt-laden Jaiprakash Associates under IBC. Adani's larger
Key facts
- Rs 14,535 crore Adani bid
- Rs 16,000 crore Vedanta bid
- Rs 12,000 crore floor price
- Rs 6,000 crore upfront by Adani
- Rs 57,185 crore bank loans
- Rs 5.44 lakh crore admitted claims
- ~25.4% bank recovery
- FY25 loss Rs 4,933 crore
- NARCL 86% CoC voting
Why this matters
NCLAT's dismissal of Vedanta's challenge reinforces that resolution-plan defensibility hinges on payout structure and timelines, not just sticker price—price your bids accordingly.