Overview
- Adani secured about 89% support in the Committee of Creditors vote, with NARCL holding roughly 86% of the voting share as SBI and ICICI abstained with less than 3%.
- Adani Enterprises said it received a Letter of Intent on November 19, and the resolution professional will file the approved plan with the NCLT’s Allahabad Bench.
- The winning proposal carries a reported total plan value of about Rs 14,535 crore, including Rs 6,005 crore upfront and around Rs 6,726 crore after two years, with an estimated NPV near Rs 12,000 crore.
- Vedanta’s rival bid was larger in total value—reported around Rs 16,726–17,000 crore—but offered a smaller upfront payment of about Rs 3,800 crore with payouts spread over five years.
- Some lenders questioned the bid-scoring mechanism and reports indicate a legal challenge is possible, even as creditors favored near-term recoveries for the heavily indebted JAL.