Adani Wins Creditor Backing for Jaiprakash Takeover Plan

20 Nov 2025 CW Team

Creditors of Jaiprakash Associates have recently supported Adani Enterprises’ Rs 135 billion takeover proposal for the insolvent infrastructure company, preferring it over Vedanta’s higher offer due to stronger upfront payments. Most lenders, largely Indian banks, viewed the shorter 1.5–2-year payout structure as more favourable than Vedanta’s five-year timeline.

Other bidders included Dalmia Bharat, Jindal Power and PNC Infratech, while a last-minute offer from promoter Manoj Gaur was withdrawn. Jaiprakash Associates, once a major infrastructure conglomerate, owes lenders about Rs 550 billion and entered insolvency last June.

With the vote now in Adani’s favour, the committee of creditors is expected to formalise its recommendation and submit it to the National Company Law Tribunal. The National Asset Reconstruction Company, which acquired the company’s loans from a State Bank of India-led consortium, remains the largest claimant in the case.

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..