Adani Enterprises on Tuesday said the National Company Law Tribunal (NCLT) has approved its resolution plan for Jaiprakash Associates. The approval was announced by oral order on March 17, 2026.
The company is said to make detailed disclosures once the written order is issued. Earlier, Adani Enterprises had been identified as the winning bidder for the ailing company.
The resolution plan may be executed by Adani Enterprises, its group companies or through special purpose entities.
On November 19, the Adani Group company received approval from the Jaiprakash Associates Committee of Creditors after lenders voted in favor of its resolution bid for the bankrupt industrial and infrastructure group.
In a regulatory filing, the Gautam Adani-led firm said it had “received a Letter of Intent (‘LOI’) from the Resolution Professional (‘RP’) on November 19, 2025 at 3:05 pm.”
Jaiprakash Associates is the flagship company of the Jaypee Group. It currently owes lenders around Rs 55,000 crore, with the National Asset Reconstruction Company being the largest creditor. It was admitted into insolvency proceedings in June 2024 and is managed by resolution professional Bhuvan Madan of Deloitte.
