NEW DELHI: The National Company Law Tribunal (NCLT) has sanctioned Adani Enterprises Ltd’s bid of ₹14,535 crore to acquire Jaiprakash Associates Ltd as part of the insolvency proceedings.
Jaiprakash Associates Ltd (JAL) reported in a regulatory filing that the Allahabad bench of the NCLT orally pronounced its order on March 17, 2026, approving the resolution plan proposed by Adani Enterprises Ltd.
In November of the previous year, a Committee of Creditors (CoC) gave its nod to the acquisition plan suggested by business tycoon Gautam Adani.
Adani Enterprises secured the endorsement of JAL’s creditors for its ₹14,535 crore bid, surpassing competitors Vedanta and Dalmia Bharat.
The CoC of JAL, undergoing Corporate Insolvency Resolution Process (CIRP) as per the Insolvency and Bankruptcy Code 2016 (IBC), accepted the resolution plan from Adani Enterprises Ltd (AEL), as stated in a stock exchange filing.
Adani garnered the most votes—89%—from creditors, ahead of Dalmia Cement (Bharat) and Vedanta Group.
JAL, possessing high-quality assets and interests in various sectors such as real estate, cement manufacturing, hospitality, power, and engineering & construction, entered the CIRP in June after defaulting on loans totaling ₹57,185 crore.
Key projects under JAL include Jaypee Greens in Greater Noida, part of Jaypee Greens Wishtown in Noida, and Jaypee International Sports City near the upcoming Jewar International Airport.
Additionally, JAL operates three commercial/industrial office spaces in the Delhi-NCR region, along with five hotel properties across Delhi-NCR, Mussoorie, and Agra. It also manages four cement plants in Madhya Pradesh and Uttar Pradesh and several leased limestone mines in Madhya Pradesh.
The company holds investments in subsidiaries such as Jaiprakash Power Ventures Ltd, Yamuna Expressway Tolling Ltd, Jaypee Infrastructure Development Ltd, among others.
