Adani Enterprises on Tuesday said the National Company Law Tribunal (NCLT) has approved its resolution plan for Jaiprakash Associates. The approval was announced through an oral order on March 17, 2026.
The company is said to make detailed disclosures once the written order is issued. Earlier, Adani Enterprises had been identified as the successful bidder for the stressed firm.
The resolution plan may be executed by Adani Enterprises, its group companies, or through special purpose vehicles.
On November 19, the Adani Group company received approval from the Committee of Creditors of Jaiprakash Associates after lenders voted in favour of its resolution offer for the bankrupt infrastructure and industrial group.
In a regulatory filing, Gautam Adani-led firm said it had “received a Letter of Intent (‘LOI’) from the Resolution Professional (‘RP’) on November 19, 2025 at 3:05 p.m.”
Jaiprakash Associates is the flagship company of the Jaypee Group. It currently owes lenders about Rs 55,000 crore, with National Asset Reconstruction Company as the largest creditor. It was admitted into insolvency proceedings in June 2024 and is administered by resolution professional Bhuvan Madan of Deloitte.
