Adani Ports and Special Economic Zone Limited (APSEZL) has expressed in-principle interest to act as an ‘Implementing Entity’ in the resolution plan for Jaiprakash Associates Limited (JAL). This move, confirmed on March 19, 2026, involves acquiring specific aviation assets and gaining indirect control over Kanpur Fertilizers and Chemicals Limited from JAL. The underlying resolution plan for JAL was approved by the Hon’ble NCLT on March 17, 2026.
APSEZL’s Role in JAL Resolution
Adani Ports and Special Economic Zone Limited (APSEZL) has formally intimated its interest concerning the approved Resolution Plan for Jaiprakash Associates Limited (JAL), the corporate debtor undergoing insolvency proceedings. The resolution plan, submitted by Adani Enterprises Limited, was formally approved by the Hon’ble National Company Law Tribunal (NCLT), Allahabad bench, Prayagraj, via an order dated March 17, 2026.
Acquisition Targets
APSEZL intends to nominate itself, directly or indirectly through subsidiaries like Karnavati Aviation Private Limited and/or Mandhata Build Estate Limited, to serve as one of the designated ‘Implementing Entities.’ The primary objectives under this role involve:
- Acquiring specific aviation assets from JAL.
- Acquiring indirect control over Kanpur Fertilizers and Chemicals Limited, which holds industrial and commercial land in Kanpur.
The company noted that its participation is expressly subject to receiving all necessary regulatory approvals. This development signifies a strategic move to integrate key assets previously held by JAL into the Adani Group portfolio, contingent upon the formal completion of the resolution process.
Source: BSE
