Vedanta Moves SC to Halt Adani's Jaypee Resolution Plan

• Vedanta Ltd has approached the Supreme Court seeking a stay on Adani Group’s resolution plan for Jaiprakash Associates Ltd.
• Vedanta challenges NCLAT's March 24 order, which declined to halt Adani’s plan but allowed it to proceed subject to final outcome.
• Vedanta argues its earlier proposal for Jaypee offered higher value than Adani Group’s winning bid, claiming it was superior financially.
• The NCLT Allahabad bench approved Adani Enterprises’ ₹14,535 crore plan on March 17, which secured 89% approval from creditors.
• Vedanta contends its proposal was ₹1,000 crore higher on a net present value basis, questioning lenders' decision to back a lower bid.