Vedanta Challenges Adani's ₹14,535 Cr Jaiprakash Associates Acquisition in NCLAT

• Vedanta Group has approached NCLAT, challenging NCLT's approval of Adani Group's bid for Jaiprakash Associates Ltd (JAL).
• Adani Enterprises Ltd's ₹14,535 crore bid for JAL was approved by NCLT, Allahabad bench, on March 17.
• Vedanta was also in the race to acquire JAL through an insolvency process, but Adani's plan was approved by lenders.
• Adani Enterprises outbid Vedanta and Dalmia Bharat, securing 89% of creditor votes.
• JAL, with diverse assets including real estate and cement, was admitted to CIRP after defaulting on ₹57,185 crore loans.