Jaiprakash Associates: Adani Enterprises shares jump 3%; what SC says on Vedanta plea
At 1.38 pm, Vedanta shares were trading 0.32 per cent higher at Rs 690. The Adani group flagship, Adani Enterprises was trading 2.53 per cent higher at Rs 1,880.
- Apr 6, 2026,
- Updated Apr 6, 2026 1:55 PM IST
The Supreme Court on Monday did not interfere with the National Company Law Appellate Tribunal (NCLAT)'s order, refusing to stay Adani Group’s Rs 14,535 crore bid to acquire Jaiprakash Associates Ltd. However, the top court restrained the monitoring committee of the ailing company from taking any major policy decision without prior approval from the tribunal, PTI reported.
At 1.38 pm, Vedanta shares were trading 0.32 per cent higher at Rs 690. The Adani group flagship, Adani Enterprises was trading 2.53 per cent higher at Rs 1,880. It jumped 3.32 per cent to hit a high of Rs 1,894.55 earlier in the session.
The court asked Vedanta Ltd and successful resolution applicant Adani Enterprises Ltd to raise their contentions and counterclaims before the appellate tribunal, which is set to begin final hearings in the matter on April 10.
SC asks NCLAT to decide plea and counter petition expeditiously on dispute over acquisition of Jaiprakash Associates Ltd, PTI reported.
The Anil Agarwal-led Vedanta Group was in the race to acquire Jaiprakash Associates through the insolvency process, but lenders approved the resolution plan of Adani Enterprises Ltd in November last year.
The corporate insolvency resolution process of Jaiprakash Associates commenced on June 3, 2024, with Bhuvan Madan appointed as the resolution professional. The Committee of Creditors approved the plan with a voting share of 93.81 per cent on November 18, 2025. Subsequently, on March 17, the National Company Law Tribunal, Allahabad bench, cleared Adani Enterprises Ltd’s Rs 14,535 crore bid under the insolvency process, the company had earlier informed stock exchanges BSE and NSE.
Adani Enterprises had said the approved resolution plan would be implemented by the company, its promoters and promoter group entities, along with other Adani Group firms. These included Adani Power Ltd, Adani Infra India Ltd, Adani Ports and Special Economic Zone Ltd, Karnavati Aviation Pvt Ltd and Mandhata Build Estate Ltd.
The plan may also be executed through one or more special purpose vehicles held by any Adani entity or through any other entity or nominee, in line with the terms of the approved resolution plan, Adani Enterprises had said.
The Supreme Court on Monday did not interfere with the National Company Law Appellate Tribunal (NCLAT)'s order, refusing to stay Adani Group’s Rs 14,535 crore bid to acquire Jaiprakash Associates Ltd. However, the top court restrained the monitoring committee of the ailing company from taking any major policy decision without prior approval from the tribunal, PTI reported.
At 1.38 pm, Vedanta shares were trading 0.32 per cent higher at Rs 690. The Adani group flagship, Adani Enterprises was trading 2.53 per cent higher at Rs 1,880. It jumped 3.32 per cent to hit a high of Rs 1,894.55 earlier in the session.
The court asked Vedanta Ltd and successful resolution applicant Adani Enterprises Ltd to raise their contentions and counterclaims before the appellate tribunal, which is set to begin final hearings in the matter on April 10.
SC asks NCLAT to decide plea and counter petition expeditiously on dispute over acquisition of Jaiprakash Associates Ltd, PTI reported.
The Anil Agarwal-led Vedanta Group was in the race to acquire Jaiprakash Associates through the insolvency process, but lenders approved the resolution plan of Adani Enterprises Ltd in November last year.
The corporate insolvency resolution process of Jaiprakash Associates commenced on June 3, 2024, with Bhuvan Madan appointed as the resolution professional. The Committee of Creditors approved the plan with a voting share of 93.81 per cent on November 18, 2025. Subsequently, on March 17, the National Company Law Tribunal, Allahabad bench, cleared Adani Enterprises Ltd’s Rs 14,535 crore bid under the insolvency process, the company had earlier informed stock exchanges BSE and NSE.
Adani Enterprises had said the approved resolution plan would be implemented by the company, its promoters and promoter group entities, along with other Adani Group firms. These included Adani Power Ltd, Adani Infra India Ltd, Adani Ports and Special Economic Zone Ltd, Karnavati Aviation Pvt Ltd and Mandhata Build Estate Ltd.
The plan may also be executed through one or more special purpose vehicles held by any Adani entity or through any other entity or nominee, in line with the terms of the approved resolution plan, Adani Enterprises had said.