Vedanta moves Supreme Court seeking stay on Adani’s takeover of Jaiprakash Associates

Vedanta Group has approached the Supreme Court seeking a stay on Adani Group's takeover of Jaiprakash Associates Ltd (JAL). Vedanta claims it was initially declared the highest bidder for JAL, but the decision was later reversed. Lenders, however, defend their choice of Adani's bid, citing upfront cash and faster repayment, despite Vedanta's higher financial offer.