Jaypee Group founder Jaiprakash Gaur stated on Friday, 10 April, that he supports the lenders’ decision to select Adani Group as the winner to acquire assets of Jaiprakash Associates Ltd (JAL), a company facing bankruptcy.
Gaur stated that the committee of creditors have selected Adani Group as the successful bidder for Jaiprakash Associates Ltd (JAL) and “we fully respect the decision”.
Appreciate fair, transparent insolvency process by Jaiprakash Associates CoC, resolution professional: Jaiprakash Gaur.
— Press Trust of India (@PTI_News) April 10, 2026
Confident that under Gautam Adani's leadership, legacy of Jaiprakash Associates will be carried forward: Jaiprakash Gaur.
Lenders selected Adani Group as… pic.twitter.com/Pk7AplGWpz
“I have every confidence that under the leadership of Gautam Adani, the legacy of Jaiprakash Associates will be carried forward with renewed energy, responsibility and purpose”, his statement reads.
Gaur appreciated the fair and transparent process conducted by the Committee of Creditors (CoC) of JAL and the resolution professional, and thanked the Adani Group and Vedanta for participating in the insolvency process.
Last month, the Allahabad bench of the National Company Law Tribunal (NCLT) approved Adani Group’s Rs 14,535 crore bid to acquire the assets of JAL. The decision was challenged by the Vedanta Group, which put a bid of Rs 17,926 crore, in the appellate tribunal NCLAT.
A Supreme Court bench had earlier declined to stay the implementation of the resolution plan presented by Adani Group. CJI Suryakant had cited that the insolvency proceedings are already listed for final hearing before the National Company Law Appellate Tribunal on April 10 and no intervention was needed at that stage.
