•Vedanta Chairman Anil Agarwal claims company was declared highest bidder for Jaiprakash Associates but decision was later reversed.
•Agarwal stated Vedanta was informed in writing of their win in a transparent public auction by the Committee of Creditors (CoC).
•He indicated Vedanta will present its case through "appropriate channels," suggesting a legal challenge to the resolution process.
•The statement follows Vedanta's challenge against NCLT's approval of Adani Enterprises' resolution plan for Jaiprakash Associates.
•Vedanta had submitted a higher overall bid of Rs 16,000 crore, but lenders preferred Adani's Rs 14,535 crore bid due to higher upfront payment and shorter payout timeline.
