The National Company Law Appellate Tribunal (NCLAT) upheld the resolution plan of Adani Enterprises Limited for Jaiprakash Associates Limited (JAL), dismissing a challenge from Vedanta Limited. JAL, which entered insolvency on June 3, 2024, due to liabilities exceeding ₹57,000 crore (approximately $6.9 billion USD), faced scrutiny from its Committee of Creditors (CoC), which consists of 27 lenders including banks and financial institutions. The CoC approved Adani's plan with an overwhelming 93.81% voting share after evaluating proposals from six contenders, including Vedanta. Adani's plan was favored for its upfront recovery and overall financial value. Vedanta's attempt to submit a revised bid of ₹16,070 crore was dismissed by the CoC, which cited bidding framework rules prohibiting changes post-submission. The NCLAT's ruling follows earlier decisions where both the appellate tribunal and the Supreme Court of India denied Vedanta's requests to stay Adani's plan. JAL is known for significant real estate projects, including Jaypee Greens in Greater Noida and the Jaypee International Sports City near the upcoming Jewar International Airport.