New Delhi, March 17 -- The National Company Law Tribunal (NCLT), Allahabad, has approved Adani Enterprises' over Rs.15,000-crore resolution plan for bankrupt Jaiprakash Associates Ltd (JAL), rejecting Vedanta Ltd's challenge.

"Resolution plan is approved as per the details in the order," the NCLT bench said while pronouncing the verdict.

A detailed written order was not available till press time.

After NCLT approval, the resolution plan becomes binding, and control shifts to Adani Enterprises, with payments to creditors beginning as per the timeline set by the monitoring committee. The company then moves towards implementation and eventual exit from insolvency.

However, dissenting parties such as Vedanta can challenge the order before...