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Adani Approved for Jaiprakash Associates Insolvency
17 Mar
Summary
- NCLT approved Adani's resolution plan for Jaiprakash Associates.
- The approval followed an oral pronouncement on March 17, 2026.
- Adani's plan may be implemented by group entities or SPVs.
The National Company Law Tribunal (NCLT), Allahabad Bench, has officially approved Adani Enterprises' resolution plan for Jaiprakash Associates. This decision was orally announced on March 17, 2026, marking a significant development in the insolvency proceedings under the Insolvency and Bankruptcy Code, 2016.
The approved resolution plan, originally submitted on October 14, 2025, and clarified in November 2025, paves the way for Adani Enterprises to take over Jaiprakash Associates. Adani Enterprises had previously received a letter of intent, identifying it as the successful resolution applicant.
Execution of the approved plan may involve Adani Enterprises, its promoters, or group entities, including special purpose vehicles. This flexibility allows for the participation of infrastructure and power businesses within the Adani Group, as outlined in the approved structure.
