India, March 18 -- The National Company Law Tribunal has approved Adani Enterprises Ltd.'s Rs.14,535 crore ($1.74 billion) resolution plan to acquire bankrupt infrastructure heavyweight Jaiprakash Associates Ltd. The ruling, delivered orally by NCLT's Allahabad bench on Tuesday, 17 March 2026, marks the culmination of a high-stakes insolvency process and hands billionaire Gautam Adani a sprawling portfolio of cement, real estate, and hospitality assets.

The landmark decision formally dismisses a legal challenge mounted by rival bidder Vedanta Ltd., clearing the path for one of India's most significant corporate rescues under the Insolvency and Bankruptcy Code (IBC) of 2016. Following the NCLT's approval, the resolution plan becomes legal...