Adani Files Caveat in Supreme Court Amid Vedanta's Challenge in Jaypee Insolvency Case
After NCLAT relief, Adani moves SC with caveat against possible Vedanta appeal in Jaypee insolvency case
The Economic Times
Image: The Economic Times
Adani Enterprises has filed a caveat in the Supreme Court of India to preemptively address any potential appeal by Vedanta regarding the National Company Law Appellate Tribunal's (NCLAT) recent ruling that favored Adani's resolution plan for Jaiprakash Associates Ltd (JAL). This move follows Vedanta's unsuccessful challenge to the approval of Adani's plan in the ongoing insolvency proceedings.
- 01Adani Enterprises filed a caveat in the Supreme Court to ensure it is heard before any orders are made regarding Vedanta's potential appeal.
- 02The NCLAT upheld Adani Group's resolution plan for Jaiprakash Associates Ltd, dismissing Vedanta's appeal.
- 03Vedanta argued its offer was superior but was challenged by the Committee of Creditors (CoC) and Adani Group.
- 04The CoC defended the integrity of the insolvency process, asserting Adani's bid was evaluated as the highest.
- 05The Supreme Court previously denied Vedanta interim relief, emphasizing the need for a swift resolution.
Advertisement
In-Article Ad
Adani Enterprises has taken a proactive step by filing a caveat in the Supreme Court of India, anticipating a potential appeal from Vedanta regarding the National Company Law Appellate Tribunal's (NCLAT) decision. The NCLAT recently upheld Adani's resolution plan for Jaiprakash Associates Ltd (JAL), dismissing Vedanta's challenge. Vedanta had argued that its revised offer of over ₹17,900 crore was superior to Adani's ₹14,535 crore plan and raised concerns about the evaluation process used by the Committee of Creditors (CoC). However, the CoC and Adani defended the integrity of the process, stating that Adani's proposal was the highest-scoring under the established criteria. The Supreme Court had previously denied Vedanta interim relief, stressing the importance of resolving the matter quickly. By filing the caveat, Adani seeks to ensure its voice is heard before any decisions are made regarding Vedanta's appeal, reflecting the ongoing complexities in the insolvency proceedings.
Advertisement
In-Article Ad
The outcome of this legal battle could significantly affect the resolution process for Jaiprakash Associates Ltd, impacting creditors and stakeholders involved in the insolvency proceedings.
Advertisement
In-Article Ad
Reader Poll
Do you think the Supreme Court should prioritize the resolution of the Jaypee insolvency case?
Connecting to poll...
More about Adani Enterprises
Promoters in India Invest Billions to Buy Back Stocks Amid Market Decline
The Economic Times • May 6, 2026
NCLAT Dismisses Vedanta's Challenge to Adani's Bid for Jaiprakash Associates
Business Standard • May 4, 2026
NCLAT Upholds Adani's Resolution Plan for Jaiprakash Associates Against Vedanta's Challenge
Mint • May 4, 2026
Read the original article
Visit the source for the complete story.