Adani Enterprises said it received the Letter of Intent from the Resolution Professional on 19 November at 3:05 p.m. after the Committee of Creditors approved its resolution plan. JAL is undergoing corporate insolvency proceedings and has interests in engineering, construction, cement, power, real estate, fertilisers and hospitality through its subsidiaries and affiliates.

Adani stated that the plan’s implementation requires clearance from the National Company Law Tribunal’s Allahabad Bench and other regulatory bodies. The resolution may be executed through Adani Enterprises or other Adani group entities, including special purpose vehicles.

Media reports indicated that Adani's Rs 13,500 crore bid prevailed over Vedanta's Rs 17,000 crore offer because lenders preferred the higher upfront payment. Vedanta had proposed a five-year payout schedule, while Adani committed to completing payments within 1.5-2 years.

Jaiprakash Associates owes creditors Rs 55,000 crore, making it one of India’s largest ongoing insolvency cases.

Jaiprakash Power Ventures is engaged in the business of thermal and hydro power generation, coal mining and cement grinding. The company presently owns and operates three power plants with an aggregate capacity of 2220 MW, 2 MTPA Cement Grinding Unit and 3.92 MTPA Captive Coal Mine.

On a consolidated basis, net profit of Jaiprakash Power Ventures declined 0.31% to Rs 182.10 crore while net sales rose 17.28% to Rs 1438.30 crore in Q2 September 2025 over Q2 September 2024.