New Delhi, March 18 -- Adani Jaiprakash NCLT Approval: Small-cap stock Jaiprakash Associates Ltd (JAL) has received a major development in its insolvency proceedings after the National Company Law Tribunal (NCLT) approved Adani Enterprises' Rs.14,535 crore bid to acquire Jaiprakash Associates Ltd through the insolvency process. This marks a stark outcome for equity holders, for whom nearly Rs.400 crore of investor wealth is set to be wiped out following the approval of Jaiprakash Associates' resolution plan.

The approval, announced on March 17, 2026, marks a crucial step in resolving the company's long-standing financial stress under the Insolvency and Bankruptcy Code (IBC), 2016.

"We hereby inform you that the Hon'ble NCLT has orally p...