Adani Power Limited has officially communicated its in-principle interest in becoming an ‘Implementing Entity’ for the approved Resolution Plan of Jaiprakash Associates Limited (JAL). This move, announced on March 19, 2026, involves acquiring specified power assets and investments from JAL. The underlying Resolution Plan was approved by the Hon’ble NCLT, Allahabad bench, on March 17, 2026, marking a significant step in JAL’s insolvency process.
Disclosure of Interest in JAL Resolution
Adani Power Limited has formally informed the stock exchanges regarding its interest concerning the approved Resolution Plan for Jaiprakash Associates Limited (JAL), the corporate debtor undergoing insolvency proceedings under the IBC, 2016. This intimation was made public on March 19, 2026.
Key Development in Corporate Insolvency
The foundational Resolution Plan was sanctioned via an order passed by the Hon’ble National Company Law Tribunal (NCLT), Allahabad bench, Prayagraj, on March 17, 2026. This order was subsequently uploaded to the Hon’ble NCLT website on March 18, 2026.
Role as an Implementing Entity
The approved Resolution Plan grants Adani Enterprises Limited the authority to nominate one or more ‘Implementing Entities’ responsible for executing the plan, including acquiring JAL’s assets. Adani Power Limited has expressed its in-principle interest to be nominated as one of these ‘Implementing Entities.’ The specific objective is the acquisition of certain power assets and investments from JAL, which remains subject to securing all necessary regulatory approvals.
The company requests that this material development be taken on record by the stock exchanges.
Source: BSE
