Overview
- Nearly 90% of the Committee of Creditors backed Adani’s plan, while some lenders including SBI and ICICI abstained with a combined share of under 3%.
- Adani’s proposal totals Rs 13,500 crore, including Rs 6,005 crore upfront and Rs 6,726 crore payable after two years, equating to an NPV of about Rs 12,000 crore.
- Vedanta had earlier led an e-auction with a larger overall offer of roughly Rs 16,000–17,000 crore but proposed only Rs 3,770 crore upfront with a longer payout period.
- Vedanta’s attempt to increase the immediate payout after the Swiss-challenge phase was not allowed by the interim resolution professional.
- A CoC score sheet ranked Adani highest, though some lenders have questioned the scoring; lenders plan to issue an LoI before the resolution professional files the plan at the NCLT, with total claims reported around Rs 55,000–57,185 crore.