Jaiprakash Associates’ creditors reportedly unanimously voted in favour of Adani Enterprises, which pipped Vedanta with its offer for the bankrupt diversified infrastructure conglomerate. The decision follows an electronic auction in September where Vedanta had emerged as the highest bidder with a Rs 17,000 crore offer for Jaiprakash Associates Limited (JAL). Advertisement

According to a report in The Economic Times, however, lenders ultimately selected Adani Enterprises, citing the appeal of higher upfront payments as a decisive factor in their choice. This resolution comes as the company, which spans cement, power, engineering, and real estate, is undergoing insolvency proceedings administered by a Deloitte-backed professional.

Lenders chose Adani Enterprises because it offered higher

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