Overview

• JAL’s creditors ran a challenge process on September 5 that identified Vedanta’s proposal as the highest, with a net present value of about Rs 12,505 crore.
• Adani Group was the only other bidder to submit a binding offer after wider initial interest from firms including Dalmia Bharat, Jindal Power and PNC Infratech.
• Vedanta had not issued an official confirmation at the time of publication, according to outlets that contacted the company.
• Financial creditors have lodged claims of about Rs 57,000 crore, with NARCL now the largest voting claimant after purchasing bank loans earlier this year.
• The asset mix spans prime NCR land parcels, hotels, commercial offices and non-operational cement plants across Uttar Pradesh and Madhya Pradesh.