NCLAT dismisses Vedanta's plea to halt Adani's resolution plan for Jaiprakash Associates
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Summary
The National Company Law Appellate Tribunal (NCLAT) on Monday dismissed an appeal by Vedanta Limited challenging the acceptance of Adani's resolution plan for the debt-laden Jaiprakash Associates Limited (JAL) [Vedanta Vs Bhuvan Madan].A Bench comprising Chairperson Justice (retired) Ashok Bhushan and Technical Member Barun Mitra held that the Committee of Creditors (CoC) were right in rejecting Vedanta's resolution plan. Jaiprakash Associates Limited (JAL) was admitted into the corporate insolv