Vedanta Share Price Surges Following Supreme Court Intervention in Jaiprakash Associates Insolvency Case

Vedanta Share Price Jumps as NCLAT Hearing Looms

Vedanta share price surged over 4% on Tuesday ahead of the National Company Law Appellate Tribunal (NCLAT) hearing on the Jaiprakash Associates insolvency case. The company's shares gained as much as 4.17% to ₹718.80 apiece on the BSE.

The Delhi bench of the NCLAT will hear Vedanta's appeal challenging the approval of the resolution plan for Jaiprakash Associates Limited (JAL) on April 10. The Supreme Court had declined to stay the implementation of the Adani group's ₹14,535-crore bid to acquire the debt-ridden JAL, but provided a safeguard by restraining the firm's monitoring committee from taking any "major policy decisions" without prior nod of the NCLAT.

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The top court asked the NCLAT to decide the plea and the counter petition expeditiously by hearing them on an "out of turn basis" on the dispute over the acquisition of JAL by the Adani group. Vedanta has maintained that it was formally communicated as the highest bidder, both on substantive terms and on a net present value (NPV) basis.

Vedanta's resolution plan, pegged at ₹17,926 crore, offers a significantly higher value than the ₹14,535 crore proposed by the other bidder. The company has contended that its resolution plan would result in an additional recovery of about ₹3,400 crore for creditors. Vedanta sought an expedited hearing on April 10, urging the tribunal to take up the matter at the earliest.

At 10:50 AM, Vedanta share price was trading 3.66% higher at ₹715.25 apiece on the BSE. The outcome of the upcoming hearing is likely to have significant implications for the competing bidders, including Vedanta Limited, as well as for creditors awaiting recovery and the IBC's broader objective of time-bound resolution under India's insolvency framework.