Whalesbook
Creditors of Jaiprakash Associates have unanimously favored Adani Enterprises' ₹13,500-crore proposal to take over the bankrupt infrastructure group. This decision prioritizes Adani's offer over Vedanta's higher ₹17,000-crore bid, mainly due to Adani's larger upfront payments and a significantly shorter repayment period of 1.5-2 years, compared to Vedanta's five-year plan. Jaiprakash Associates, which owes creditors ₹55,000 crore, is undergoing insolvency proceedings. The National Company Law Tribunal (NCLT) will make the final decision after the Committee of Creditors' confirmation.