Adani Enterprises Limited has informed the Exchange regarding 'Intimation Under Regulation 30 Of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 - Update On The Resolution Plan For Jaiprakash Associates Limited ('JAL').'.
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The National Company Law Tribunal (NCLT), Allahabad Bench, has approved Adani Enterprises Limited's resolution plan for the acquisition of Jaiprakash Associates Limited (JAL), with the order copy placed on the tribunal's website on March 18, 2026. JAL, which operates in engineering & construction, real estate, cement, hospitality, power, fertilizer, and road BOT, entered the Corporate Insolvency Resolution Process (CIRP) on June 3, 2024, with admitted creditor claims of approximately Rs 57,497.93 crores. The Committee of Creditors approved Adani's plan with 93.81% voting share on November 18, 2025, after Adani scored 89.76 out of 100 in the evaluation matrix, beating Vedanta (75.60), Dalmia (79.67), Jindal (61.22), and PNC (45.24). Adani has already submitted a Rs 500 crore performance bank guarantee and obtained Competition Commission of India (CCI) approval. The acquisition may be executed by Adani Enterprises, its promoters, or group entities such as Adani Power, Adani Infra, Adani Ports, Karnavati Aviation, or Mandhata Build Estate, or through a special purpose vehicle.
This is a major positive for Adani Enterprises shareholders, as the NCLT approval clears the path for Adani to acquire JAL's diversified asset portfolio, potentially expanding its presence in cement, real estate, infrastructure, and power. Investors should watch for further updates on the implementation structure and timeline, as the acquisition could significantly add to Adani's revenue and asset base.