Overview
- Adani Enterprises received a formal letter of intent from the resolution professional on Nov. 19, with implementation now contingent on approval by the NCLT’s Allahabad Bench and other regulators.
- The plan secured about 89% creditor support, with NARCL holding roughly 86% of voting power and major banks such as SBI and ICICI abstaining with a small combined share.
- Adani’s proposal offers Rs 6,005 crore upfront and pays the balance within two years, whereas Vedanta’s higher total bid leaned on smaller upfront cash and a five‑year payout.
- Multiple reports place Adani’s total plan value near Rs 14,535 crore with an estimated NPV around Rs 12,000 crore, compared with Vedanta’s roughly Rs 16,726 crore and Rs 3,800 crore upfront component.
- Some lenders have questioned the evaluation matrix used by the Committee of Creditors, raising the prospect of legal challenges even as JAL’s insolvency involves claims of about Rs 55,000–57,185 crore across its diversified assets.