NCLAT refuses to stay Adani's ₹15,000-cr Jaiprakash Associates plan, allows its delisting

NCLAT refused to stay the implementation of Adani Enterprises' ₹14,543-crore resolution plan for bankrupt Jaiprakash Associates, which Vedanta had challenged and called a "commercial conspiracy". The tribunal also allowed the delisting of Jaiprakash Associates' shares while it hears Vedanta's argument. It also sought responses from Jaiprakash Associates' Committee of Creditors on Vedanta's plea.