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NCLAT Rejects Stay on Adani's JAL Plan; Vedanta Contests CoC Ruling

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NCLAT Denies Stay on Adani's JAL Plan; Vedanta Challenges CoC Decision

Vedanta is the biggest loser on the index, down 5%. At the day's low, its market capitalisation stood at ₹2.49 lakh crore. Hindalco is also among the top Nifty 50 losers, down 4%, while NALCO has declined 4.5%.

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CNBC TV18•24-03-2026, 13:09

NCLAT Denies Stay on Adani's JAL Plan; Vedanta Challenges CoC Decision

•NCLAT refused to stay Adani Group's resolution plan for Jaiprakash Associates Ltd (JAL).
•Any action taken under Adani's plan will be subject to the final outcome of the case.
•Vedanta Group challenged the approval of Adani Enterprises' ₹14,535 crore bid, claiming its offer was financially superior.
•Vedanta alleged its bid was ₹1,000 crore higher on NPV basis and CoC approved a lower bid.
•Adani's plan received 89% creditor approval, outbidding Vedanta and Dalmia Bharat.

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