NCLAT dismisses Vedanta's plea against Adani's Jaiprakash bid

A company law appeals court has rejected Vedanta Ltd's challenge to Gautam Adani's group winning bid for bankrupt firm Jaiprakash Associates Ltd (JAL). The National Company Law Appellate Tribunal found no merit in Vedanta's petitions, upholding the Committee of Creditors' decision to favor Adani's ₹14,535-crore bid. JAL entered insolvency proceedings after failing to pay over ₹57,000 crore in bank dues.