The National Company Law Tribunal has approved Adani Enterprises’ resolution plan for Jaiprakash Associates, marking a significant development in one of the country’s largest insolvency cases. The plan was cleared under the Insolvency and Bankruptcy Code after receiving the committee of creditors’ backing.

Lenders expect improved recovery prospects under the proposal, which covers the settlement of outstanding dues, restructuring provisions and long-term measures aimed at reviving the distressed company. The approval follows detailed scrutiny of financial, operational and compliance elements presented during the proceedings.

With the tribunal’s clearance, implementation of the resolution plan will now move forward, enabling the transfer of assets and operational control as outlined. The decision is seen as an important step towards stabilising the company’s financial position and addressing long-pending obligations to creditors.