Adani Enterprises Limited has informed the Exchange regarding 'Pronouncement of Order dated March 17, 2026 approving the resolution plan submitted by the Company for Jaiprakash Associates Limited'.
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The NCLT Allahabad Bench has orally pronounced an order on March 17, 2026, approving Adani Enterprises' resolution plan for Jaiprakash Associates Limited (JAL) under Section 31 of the Insolvency and Bankruptcy Code. This follows the letter of intent issued on November 19, 2025, which had identified Adani Enterprises as the successful resolution applicant in JAL's corporate insolvency resolution process. The resolution plan was originally submitted on October 14, 2025, with clarifications provided on November 5, 2025. AEL can implement the plan directly, through its promoters and promoter group, or via group entities including Adani Power, Adani Infra (India), Adani Ports and SEZ, Karnavati Aviation, and Mandhata Build Estate, or through special purpose vehicles. A detailed disclosure will follow once the written order is made available.
This is a major positive for Adani Enterprises as it formally secures control of Jaiprakash Associates, a listed infrastructure, real estate and cement company, through the IBC route, adding significant assets to the Adani Group's portfolio. Shareholders should watch for the written order, the full resolution plan terms, and any SEBI open offer implications that may follow.