SC allows Adani’s JAL acquisition, urges NCLAT to act fast
NEW DELHI: The Supreme Court on Monday decided against halting the Adani group’s ₹14,535 crore acquisition bid for the financially troubled Jaiprakash Associates Limited (JAL), while ensuring that the firm’s monitoring committee can’t make any significant policy decisions without the approval of the National Company Law Appellate Tribunal (NCLAT). A bench led by Chief Justice Surya Kant and Justice Joymalya Bagchi instructed mining giant Vedanta Ltd, which opposes the resolution plan, alongside Adani Enterprises Ltd, to present their arguments and counterclaims before the NCLAT, which is set to commence final hearings on the matter on April 10. The Supreme Court…