Vedanta was never declared highest bidder for Jaiprakash Associates: RP to NCLAT
Vedanta has filed two petitions, challenging the March 17 order by the Allahabad bench of NCLT, which approved Adani Enterprises’ ₹14,535-crore bid to acquire JAL through the insolvency process. File picture
| Photo Credit: Reuters
The resolution professional of debt-ridden Jaiprakash Associates Ltd (JAL) told the National Company Law Appellate Tribunal (NCLAT) that there has been no formal declaration identifying Vedanta as the highest bidder in the insolvency process, according to court submissions.
Senior Advocate Abhishek Manu Singhvi, appearing for the Resolution Professional (RP), said an e-mail dated September 5 circulated to all bidders only conveyed the highest financial value discovered during the challenge process, and did not constitute an official declaration of a successful bidder.
Published – April 17, 2026 04:54 pm IST
