The National Company Law Appellate Tribunal (NCLAT) has reserved its judgment on Vedanta's appeals challenging the approval of Adani Enterprises' resolution plan for Jaiprakash Associates Ltd (JAL). Vedanta contends that its bid of ₹17,926 crore was superior to Adani's approved proposal of ₹14,535 crore. The tribunal, led by Chairperson Ashok Bhushan, concluded hearings after detailed submissions from involved parties, including the resolution professional and the Committee of Creditors (CoC). The CoC approved Adani's plan with 93.8% voting support, emphasizing that the evaluation process adhered to the Insolvency and Bankruptcy Code, taking into account factors such as upfront cash recovery and implementation feasibility, rather than financial value alone. JAL, which entered the corporate insolvency resolution process in June 2024 due to defaults totaling ₹57,185 crore, has a diverse portfolio including real estate and cement assets. The matter has also reached the Supreme Court, which has mandated that significant policy decisions by the monitoring committee receive prior approval from the NCLAT.