Adani Ports and Special Economic Zone has expressed in-principle interest in acquiring select assets of Jaiprakash Associates under the resolution plan approved for the company.
The plan submitted by Adani Enterprises had received the National Company Law Tribunal (NCLT) approval. Under the approved resolution framework, Adani Enterprises can nominate one or more “implementing entities” to execute the plan by acquiring specific assets from Jaiprakash Associates.
Adani Ports said it may participate as one of these implementing entities either directly or through its subsidiaries Karnavati Aviation Private and Mandhata Build Estate.
“We have expressed our in-principle interest in becoming one of the ‘Implementing Entities’ under the Resolution Plan (directly and/or indirectly through Karnavati Aviation Private and/or Mandhata Build Estate) for acquiring certain aviation assets and acquiring indirect control over Kanpur Fertilizers and Chemicals Limited (which has certain industrial and commercial lands in Kanpur) from JAL, subject to necessary approvals,” the company said in a regulatory filing.
Adani Enterprices and Adani Port share price
Following the news announcement the share price of Adani Enterprises is trading in green gaining 1.13% in the intra-day session on Friday. The share price of Adani Port and SEZ has also gained 1.66% in the early trade today.
Jaiprakash Associates has been undergoing insolvency proceedings since June 3, 2024, after a petition filed by ICICI Bank.
Adani tops six bidders as creditors approve Jaypee resolution plan
The Committee of Creditors (CoC) approved the resolution plan submitted by Adani Enterprises with a voting share of 93.81% on November 18, 2025.
After multiple rounds of evaluation and a competitive challenge process, Adani Enterprises emerged with the highest score from total six bidders based on financial and qualitative parameters used by the creditors to assess the bids.
Insolvency process ran for over a year
Jaiprakash Associates operates across several sectors including engineering and construction, real estate, cement, hospitality and infrastructure projects such as roads and power.
The insolvency process stretched over more than a year, involving multiple extensions granted by the NCLT to complete the resolution. The resolution plan was eventually approved within the permitted timeline under the Insolvency and Bankruptcy Code.