Adani Enterprises says NCLT approves resolution plan for Jaiprakash Associates

Adani Enterprises Ltd (AEL) on Tuesday, at the fag-end the trading session, informed stock exchanges that NCLT has orally pronounced an order, approving the resolution plan for Jaiprakash Associates Ltd dated October 14, 2025, submitted by the Adani group company. Following the development, Jaiprakash Associates shares fell 4.74 per cent to settle at Rs 2.41 apiece. Adani Enterprises fell 0.09 pr cent to Rs 1,973.80. 

"Please note that this disclosure is being made pursuant to the oral pronouncement of order by the Hon’ble NCLT. A detailed disclosure shall be made upon the written order being made available as required under the Listing Regulations and other applicable laws," Adani Enterprises said.

To recall, Vedanta group’s Rs 12,505-crore offer to acquire beleaguered businesses of debt-ridden Jaiprakash Associates was approved by the Competition Commission of India in October 2025. However, in November 2025, the committee of creditors (CoC) voted in favour of Adani Enterprises.

AEL said  the resolution plan, or any part thereof, may be implemented by AEL, its promoters, promoter group, and such other persons who are generally identified as being part of the Adani group. This included Adani Power Limited, Adani Infra (India) Limited, Adani Ports and Special Economic Zone Limited, Karnavati Aviation Private Limited and/or Mandhata Build Estate Private Limited). It can also be done through any special purpose vehicle, including one or more special purpose vehicle held by any Adani Entity, or any entity identified by AEL, in accordance with the terms of the resolution plan.

(More to come)