New Delhi, April 6 -- The Supreme Court of India on Monday declined to stay proceedings in a plea filed by Vedanta Limited challenging the approval of Adani Group's resolution plan for the takeover of insolvent Jaiprakash Associates Limited.

A Bench led by Chief Justice of India Surya Kant observed that since the appeal is likely to be decided shortly by the National Company Law Appellate Tribunal (NCLAT), and Vedanta's interests have been adequately safeguarded through interim measures, there was no necessity to grant any interim relief.

"The appeal is likely to be addressed soon, and we see no legal necessity to issue any interim direction," the Court noted, while requesting the NCLAT to hear the matter on an out-of-turn basis on the ...