Vedanta questions lenders' Adani Group pick for JAL despite 17000cr
Business
Vedanta is questioning why lenders picked Adani Group's plan to take over Jaiprakash Associates Ltd. (JAL), even though Vedanta offered more money, ₹17,000 crore compared to Adani's ₹15,343 crore.
Lenders say they went with Adani because of a bigger upfront payment.
The case is now with the National Company Law Appellate Tribunal (NCLAT), and the hearing is set to continue on 13 April 2026.
Vedanta alleges opaque JAL bidding process
Vedanta says the bidding process wasn't transparent, claiming some financial details were kept hidden, making it tough to compete fairly.
This dispute could impact major assets like land along the Yamuna Expressway, and might set a new standard for how future insolvency cases are handled in India.
All eyes are on NCLAT's next hearing on April 13.