Adani Group pays Rs 6,000 crore to Jaiprakash lenders in first tranche of Rs 14,535 crore plan
The payment, funded through Adani’s internal accruals, comes after the resolution plan received final judicial approval following the dismissal of rival bidder Vedanta Group’s appeal before the National Company Law Appellate Tribunal (NCLAT).
“The transfer of funds took place on Thursday. This was a big day for the lenders because they will receive a huge amount of money after such a long delay,” said a person aware of the developments.
Also Read: Adani Power signs agreement to acquire Jaiprakash Power shares and Churk assets for a total consideration of more than Rs 4,193 crore
An Adani spokesman did not immediately respond to a request for comment.
National Asset Reconstruction Co (NARCL) holds 85.43% of Jaiprakash Associates’ admitted debt. Other lenders include Asset Care & Reconstruction Company (ACRE), Axis Bank, The Bank of New York Mellon, State Bank of India, Asset Reconstruction Company (India) (ARCIL) and others.
Insolvency proceedings involving Jaiprakash Associates have been ongoing for several years and the company officially entered the Corporate Insolvency Resolution Process (CIRP) in June 2024. The Allahabad bench of the National Company Law Tribunal approved the resolution plan of Adani Enterprises on March 17, 2026.Also Read: Adani Ports to acquire indirect control of Kanpur Fertilizers for 1,500 crore under Jaiprakash Associates resolution plan
Under the approved resolution plan, ₹ 6,000 crore was to be distributed within 90 days from the date of approval of the plan for repayment of secured financial creditors. Another ₹6,026 crore will be paid after two years from the date of approval. In addition, secured lenders will receive ₹1,500 crore from non-convertible debentures (NCDs), which carry a put option, allowing creditors to seek redemption at face value within 12 to 21 months from the date of approval of the scheme. Adani also retains the option to recover NCDs at face value within 21 to 24 months from approval.
The securities are backed by guarantees from listed Adani companies. While the total bid value is ₹14,535 crore, the recovery for financial creditors is estimated to be around ₹13,500 crore. The remaining amount will be used for bankruptcy resolution process expenses, operational creditors and other legal payments.
