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Vedanta had approached the court seeking a stay on Adani Enterprises' Rs 14,500-crore resolution plan. In a setback to Vedanta Group, the Supreme Court on Monday declined to stay the implementation of Adani Enterprises' resolution plan for debt-ridden Jaiprakash Associates Ltd. A bench, led by Chief Justice (CJI) Surya Kant, noted that the insolvency proceedings are already listed for final hearing before the National Company Law Appellate Tribunal (NCLAT) on April 10, and therefore found no r ...Read More >
New Delhi [India], April 6 (ANI): The Supreme Court on Monday restrained the monitoring committee or any concerned stakeholder from taking any major policy decision regarding the implementation of the resolution plan for the takeover of bankrupt Jaiprakash Associates Limited (JAL) without prior approval of the National Company Law Appellate Tribunal (NCLAT). A bench comprising Chief Justice of India (CJI) Surya Kant and Justice Joymalya Bagchi also requested the NCLAT to hear Vedanta's plea on ...Read More >
New Delhi [India], April 6 (ANI): The Supreme Court on Monday restrained the monitoring committee or any concerned stakeholder from taking any major policy decision regarding the implementation of the resolution plan for the takeover of bankrupt Jaiprakash Associates Limited (JAL) without prior approval of the National Company Law Appellate Tribunal (NCLAT). A bench comprising Chief Justice of India (CJI) Surya Kant and Justice Joymalya Bagchi also requested the NCLAT to hear Vedanta's plea on ...Read More >
New Delhi, Mar 31 (PTI) Mining billionaire Anil Agarwal's Vedanta Ltd has told the Supreme Court that its tweaked bid for the bankrupt Jaiprakash Associates Ltd was rejected despite being better than Adani Group's offer. In its petition challenging the lenders' decision to accept Adani's takeover offer, Vedanta contended that its addendum bid is about Rs 3,400 crore higher in gross value terms and roughly Rs 500 crore more in net present value compared to the Adani Group's offer. In the bid ch ...Read More >
Vedanta Group has emerged as the winning bidder for the debt-ridden Jaiprakash Associates (JAL), surpassing Gautam Adani's Group in a competitive acquisition process. The mining conglomerate's bid of Rs 17,000 crore translated to a net present value of Rs 12,505 crore. JAL, facing insolvency proceedings due to loan defaults, attracted multiple bidders, with Vedanta ultimately securing the deal. Mining conglomerate Vedanta on Friday beat Gautam Adani's Group to make a winning bid for the acquisi ...Read More >
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