New Delhi, May 4 -- The National Company Law Appellate Tribunal (NCLAT) has dismissed a plea filed by Vedanta in connection with the ongoing insolvency proceedings of Jaiprakash Associates Limited (JAL), bringing closure to a prolonged legal contest over the resolution process.

While pronouncing its judgment, the appellate tribunal observed that it did not find merit in the specific seven issues raised by Vedanta and concluded that no further orders were required in the matter.

Vedanta had challenged the approval of Adani Group's resolution plan by the Committee of Creditors (CoC) in the Jaiprakash Associates insolvency case, contending that its own proposal offered significantly higher value to lenders. The company argued that its revi...