Vedanta asks Supreme Court to revisit Jaypee asset sale decision
Business
Vedanta isn't giving up on the race for Jaypee Group's assets just yet.
After losing out to Adani Group's ₹14,535 crore bid (which nearly 90% of creditors backed), Vedanta has now asked the Supreme Court to step in, arguing its own offer was actually better and should have been picked.
Vedanta offered 16,726 cr package
Jaypee Group owes a massive ₹57,000 crore, so this is a big deal in India's insolvency world.
Vedanta had revised its bid in November, ultimately offering ₹16,726 crore with an upfront cash component of ₹6,563 crore, but creditors still chose Adani for the immediate cash.
Now, with the Supreme Court set to weigh in soon, this case could shake up how big bankruptcies get settled in India.