Adani Enterprises Ltd is likely to emerge as the highest bidder to acquire Jaiprakash Associates Ltd (JAL) through the insolvency process, as its offer to make payments within two years has been found superior to Vedanta Group’s five-year plan, according to a report.

In early September, Vedanta had beaten the Adani Group to emerge as the top bidder with an offer valued at ₹12,505 crore (net present value) in an auction carried out by lenders seeking suitors for the debt-laden JAL, which operates in real estate, cement, power, hotels, and infrastructure. Dalmia Cement (Bharat) Ltd, Jindal Power Ltd, and PNC Infratech Ltd did not participate in that round. Advertisement

Subsequently, lenders initiated negotiations with all five interested players to enhance bid value and maximise recoveri

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