Supreme Court Refuses to Stall Adani’s JAL Resolution Plan, Pushes NCLAT for Expedited Hearing

The Supreme Court refused to stay the implementation of Adani Enterprises’ resolution plan for Jaiprakash Associates, declining to interfere with the NCLAT’s earlier decision.

The Court noted that Vedanta’s appeal challenging the plan is already listed before the NCLAT on April 10, and therefore found no reason to intervene at this stage.

It directed the appellate tribunal to hear the matter expeditiously, even on a day-to-day basis if required.

Additionally, the Court clarified that any major decisions by the monitoring committee would require prior approval of the NCLAT, ensuring oversight during the pendency of the appeal.

[Vedanta Ltd. v. Bhuvan Madan & Ors.]