Vedanta's ₹17,000cr bid for JAL faces long legal hold-up
Vedanta just put in a massive ₹17,000 crore bid to take over Jaiprakash Associates (JAL), eyeing big assets like 4,000 acres in Delhi-NCR, a huge cement plant, and a power project.
But it's not a done deal yet—creditors and the National Company Law Tribunal still have to sign off, which could take 8-10 months.
Legal mess and financial risks could delay Vedanta's takeover
JAL is tangled in court battles over land worth nearly ₹19,000 crore after losing 2,470 acres in Greater Noida due to unpaid dues—a decision upheld by the Allahabad High Court this March and now at the Supreme Court.
Plus, all JAL's cement plants are shut down.
There are also disputes over share pledges and massive personal guarantees from promoter Manoj Gaur (over ₹36,950 crore), making things riskier for lenders and possibly slowing down Vedanta's takeover even more.
Major deal, major drama--stay tuned for more twists!
This isn't just about big business drama—it shows how complicated major deals can get in India right now.
With so many legal twists and financial risks on the table, it'll be interesting to see if Vedanta can actually pull this off or if these roadblocks will keep tripping them up.