Adani Enterprises Acquires Jaiprakash Associates in Major Insolvency Resolution
Adani Enterprises Limited (AEL) has successfully acquired Jaiprakash Associates Limited (JAL) through an approved resolution plan dated October 14, 2025, under the Corporate Insolvency Resolution Process (CIRP) of the Insolvency and Bankruptcy Code, 2016. The Committee of Creditors approved the resolution plan with a voting share of 93.81% on November 18, 2025. The acquisition may be implemented by AEL or its promoters, promoter group, Adani Entities, or any special purpose vehicle or any other entity and/or nominee. The CIRP of JAL was initiated on June 3, 2024, and Mr. Bhuvan Madan was appointed as the Resolution Professional. The approved resolution plan was placed on the National Company Law Tribunal (NCLT) website on March 18, 2026.
Key Highlights
- Adani Enterprises Limited acquires Jaiprakash Associates Limited through an approved resolution plan.
- The acquisition is under the Corporate Insolvency Resolution Process (CIRP) of the Insolvency and Bankruptcy Code, 2016.
- The Committee of Creditors approved the resolution plan with a voting share of 93.81%.
- The acquisition may be implemented by AEL or its promoters, promoter group, Adani Entities, or any special purpose vehicle or any other entity and/or nominee.
- The CIRP of JAL was initiated on June 3, 2024, and Mr. Bhuvan Madan was appointed as the Resolution Professional.