Creditors of Jaiprakash Associates unanimously backed Adani Enterprises’ ₹13,500-crore ($1.53 billion) takeover proposal for the bankrupt infrastructure group, preferring it over Vedanta’s bid, two officials familiar with the matter said.

Creditors, mostly Indian banks, opted for Adani’s bid over Vedanta’s higher ₹17,000-crore offer because it included larger upfront payments preferred by stakeholders, the officials said on Wednesday, declining to be named as the matter is private.

Besides Adani and Vedanta, other bidders included Dalmia Bharat, Jindal Power and PNC Infratech . Controlling shareholder Manoj Gaur had also submitted a last-minute bid, which was later withdrawn, said one of the officials said.

Jaiprakash Associates, once one of India’s largest infrastructure conglomerates,

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