Indian billionaire Gautam Adani has acquired several companies to expand his business empire. Now, his flagship firm, Adani Enterprises' proposal to take over a bankrupt infrastructure group, has received approval. Creditors of India's Jaiprakash Associates unanimously backed Adani company's Rs 13552 crore (USD 1.53 billion) takeover proposal for the infrastructure group, preferring it over Vedanta's bid, two officials familiar with the matter said, Reuters reported.

The creditors, mostly Indian banks, opted for Adani's bid over Vedanta's higher Rs 170 billion offer because it included larger upfront payments preferred by stakeholders, the officials said on Wednesday, declining to be named as the matter is private.

Who were the other bidders?

Besides Adani and Vedanta, other bidders inc

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