NCLT approves Adani Enterprises resolution plan for Jaiprakash Associates
Insolvency resolution transfers control with zero equity recovery
Change
India’s National Company Law Tribunal approved Adani Enterprises’ resolution plan for Jaiprakash Associates, providing nil recovery to existing shareholders.
Why it matters
The approval enables transfer of control to the successful bidder and binds creditor recoveries to the approved plan rather than liquidation outcomes.
Implications
- — Shareholders receive no recovery — equity value wiped out
- — Creditors must recover under resolution plan — liquidation route closed
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