Jaypee Group founder Jaiprakash Gaur has expressed support for the decision by lenders to select the Adani Group as the winning bidder for acquiring the assets of the bankrupt Jaiprakash Associates Ltd (JAL). His remarks come amid ongoing developments in one of India’s high-profile corporate insolvency cases.

In a statement issued on Friday, Gaur said that the Committee of Creditors (CoC) had chosen the Adani Group as the successful resolution applicant for JAL, and added that the decision was fully respected by the promoters of the Jaypee Group. He also conveyed confidence that the legacy of Jaiprakash Associates would continue under the new ownership.

Gaur further appreciated the insolvency resolution process conducted by the CoC and the resolution professional, describing it as fair and transparent. He also acknowledged the participation of competing bidders, including the Adani Group and the Vedanta Group, both of which had submitted offers during the bidding process.

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The National Company Law Tribunal (NCLT) had earlier approved the Adani Group’s ₹14,535 crore resolution plan for acquiring JAL’s assets. However, the decision was subsequently challenged by Vedanta Group, which had submitted a higher bid of ₹17,926 crore, taking the matter to the appellate tribunal.

The case remains part of the ongoing insolvency proceedings under India’s corporate bankruptcy framework, which aims to resolve stressed assets through competitive bidding and creditor-led decisions. The outcome is being closely watched due to its implications for large-scale infrastructure and real estate restructuring in the country.

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