National Company Law Tribunal Postpones Hearing on Vedanta's Challenge to Adani's JSP Bid The National Company Law Tribunal (NCLAT) has postponed the hearing on Vedanta Group's petition challenging the approval of Adani Enterprises' bid for Jindal Steel & Power Ltd (JSP). The delay follows a structural change in the bench overseeing the appeals, which was necessitated by the unavailability of one of its members. Vedanta Group, led by Anil Agarwal, had filed two appeals against the order issued by the National Company Law Tribunal (NCLT) in New Delhi. The NCLT had previously approved Adani's bid of ₹14,535 crore for JSP, which is under the insolvency resolution process. Vedanta contested the decision, arguing that the approval was flawed. The NCLAT initially rejected an interim stay on the NCLT's order but stated that the case would remain under the appeals process until a final decision was made. However, the Supreme Court also dismissed an interim stay request, instructing the monitoring committee overseeing JSP's resolution to seek judicial approval before taking any significant policy decisions. The delay in the NCLAT hearing has raised concerns about the timeline for resolving the dispute, which has significant implications for the ownership and future operations of JSP. The case highlights the complex legal and regulatory challenges in corporate insolvency cases, particularly when multiple stakeholders are involved. The NCLAT is expected to announce the next hearing date soon, which will determine whether the appeals will proceed and how the dispute will be resolved. The outcome of this case could set a precedent for similar insolvency proceedings in India, influencing how corporate acquisitions and restructuring are handled under the Insolvency and Bankruptcy Code.#national_company_law_tribunal #adani_enterprises #vedanta_group #anil_agarwal #jindal_steel_power
After Decade, Mahagenco’s Gare Palma-II Mine Delivers First Coal Rake To Koradi Nagpur: Marking a major milestone in Maharashtra's push for energy security, state-run Mahagenco on Sunday received the first coal rake from its Gare Palma Sector-II captive mine at the Koradi Thermal Power Station — more than a decade after the block was allocated. The Gare Palma Sector-II mine in Chhattisgarh has a life of 77 years. Chief Minister Devendra Fadnavis flagged off the rake in the presence of Revenue Minister Chandrashekhar Bawankule, calling it a "historic step" toward fuel self-reliance. He emphasized that sourcing coal from Mahagenco's own mine would stabilize supply, reduce costs, and ultimately benefit consumers across the state. The Gare Palma Sector-II coal block, located in Tamnar tehsil of Raigarh district in Chhattisgarh, was allotted to Mahagenco by the Union coal ministry in March 2015. Spanning 2,583 hectares — including 214 hectares of forest land — and covering 14 villages, the mine holds an estimated reserve of 655 million metric tonnes of coal, with a peak production capacity of 23.6 million tonnes per annum. Despite its scale, the project faced years of delays due to land acquisition challenges and multiple statutory clearances. In March 2021, Mahagenco appointed Gare Palma II Collieries Ltd, a subsidiary of Adani Enterprises, as the mine developer and operator. Over the next few years, critical approvals — including environmental and forest clearances, mining lease and operational consents — were secured. The Centre granted final mine opening permission in July 2025, and overburden removal began in September of the same year.#devendra_fadnavis #chhattisgarh #adani_enterprises #mahagenco #koradi
Adani Green, Adani Enterprises, Adani Ports shares rally up to 13%. Here are 3 reasons behind Rs 1 lakh crore surge Adani Group stocks surged significantly on Wednesday, with shares of Adani Green Energy, Adani Enterprises, and Adani Ports rising up to 13%. The rally followed Gautam Adani’s move to seek dismissal of a U.S. Securities and Exchange Commission (SEC) civil fraud case. The U.S. District Court granted Adani’s request for a pre-motion conference in the matter, which had been initiated by the SEC in November 2024. The SEC had accused Adani and his nephew, Sagar Adani, of orchestrating a scheme to pay or promise hundreds of millions of dollars in bribes to Indian government officials to benefit Adani Green Energy, where both serve as executives and directors. The sharp rally added approximately Rs 96,000 crore to the total market capitalization of Adani Group companies during the session. Adani Green Energy shares surged as much as 13%, hitting an intraday high of Rs 1,046 on the BSE, while Adani Enterprises gained 11% to Rs 2,090. The rally was further supported by a target price upgrade from global brokerage Macquarie, which raised its target for Adani Green Energy to Rs 1,320, implying a potential upside of around 43% from current levels. The brokerage maintained its “outperform” rating and cited a strong finish to fiscal year 2026, with capacity additions of over 5 gigawatts (GW). Analysts also increased their base-case capacity estimates for the company to over 40 GW by fiscal year 2030, up from 30 GW previously. Despite this upward revision, Macquarie’s base case still implies a conservative growth trajectory, with EBITDA expected to grow at over 25% compound annual growth rate (CAGR) over the next five years.#sec #sagar_adani #adani_enterprises #adani_green_energy #adani_ports
Adani Enterprises Acquires 14.2% Stake in Air Works via Punj Lloyd Aviation Agreement Adani Enterprises Limited announced on March 1, 2026, that its subsidiary, ADSTL, executed an agreement with Punj Lloyd Aviation to acquire a 14.2% stake in Air Works. This marks a significant expansion in the company’s aviation sector holdings, as the acquisition aligns with Adani’s broader strategy to strengthen its presence in aerospace and defense industries. The deal was finalized following prior steps, including the completion of the acquisition of the same stake in Air Works India on March 11, 2026, as reported by the company. The partnership with Punj Lloyd Aviation underscores Adani’s growing influence in the aviation sector, where it has already made strides through its subsidiaries such as Adani Airports and Adani Aerospace. The acquisition of Air Works, a company specializing in aircraft maintenance and repair services, is expected to bolster Adani’s capabilities in supporting commercial and military aviation operations. This move also complements recent investments in defense-related ventures, including the acquisition of a defense unit from Punj Lloyd, which was completed by Adani’s unit on March 11. The agreement comes amid a series of strategic moves by Adani Enterprises, which has been diversifying its portfolio across sectors such as energy, logistics, and infrastructure. The company’s recent activities include the formation of a new subsidiary for highway operations and the incorporation of Corr Tollways, reflecting its focus on expanding infrastructure projects in India. Additionally, Adani has been actively involved in partnerships, such as the collaboration with IndiGo to offer duty-free shopping experiences on flights, further integrating its business interests across multiple domains.#adani_enterprises #punj_lloyd_aviation #air_works #adani_airports #adani_aerospace
