/
•
•
Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
Despite a higher offer, creditors chose Gautam Adani’s Adani Enterprises—setting up a courtroom fight that raises questions over the bankruptcy resolution process’s priorities.
Anil Agarwal feels wronged. For a good reason.
In September last year, Vedanta Ltd—the flagship of his mining empire Vedanta Resources—emerged as the highest bidder for Jaiprakash Associates Ltd (JAL), which was undergoing bankruptcy proceedings after defaulting on loans. Vedanta’s Rs 16,726 crore offer outbid the Rs 14,535 crore proposal from Gautam Adani’s Adani Enterprises.
Yet less than two months later, JAL’s creditors declared Adani Enterprises the preferred bidder. Vedanta moved the National Company Law Appellate Tribunal last week, but the tribunal refused to stay the decision. Finally, on Monday, Vedanta approached the Supreme Court seeking a stay.
On X …
A regulatory easing could see the billionaire’s conglomerate move from running airports to owning an airline—an idea he is warming up to, with multiple options open.
After a strong listing, Vedanta Aluminium Metal is running into some headwinds. Aluminium prices are easing, but the sharper challenge is rising competition from Kumar Mangalam Birla and Gautam Adani.
A proposed SEC settlement lifts the biggest overhang on the Adani Group—its access to US capital markets.
