Adani group has got approval of majority lenders' for takeover of Jaiprakash Associates as its Rs 14,535-crore acquisition proposal. Good News for Gautam Adani as Adani Group gets creditors’ approval to buy…

Jaiprakash Associates Acquisition: In a major development, the Adani Group has received approval from the Committee of Creditors of Jaiprakash Associates after lenders voted in favour of its resolution proposal for the bankrupt infrastructure and industrial company. The conglomerate confirmed the development that the creditors had given green light to its proposal under the Insolvency and Bankruptcy Code, the company’s regulatory filing stated on Wednesday.

According to Adani Enterprises, the Resolution Professional sent it the ‘Letter of Intent (‘LOI’) on Wednesday. Bloomberg re

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