Adani Ports & SEZ and Adani Power Limited have both announced their in-principle interest to participate as implementing entities in the resolution plan of Jaiprakash Associates Limited (JAL), following the National Company Law Tribunal's approval of the corporate insolvency resolution process.

NCLT Approval and Resolution Plan Details

The resolution plan, submitted by Adani Enterprises Limited, received approval from the Hon'ble National Company Law Tribunal, Allahabad bench, Prayagraj on March 17, 2026. The order was subsequently uploaded on the NCLT website on March 18, 2026, marking a significant milestone in JAL's corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016.

Strategic Asset Acquisition Plans

Under the approved resolution plan, Adani Enterprises Limited has the authority to nominate one or more implementing entities to execute the resolution plan or specific components thereof by acquiring assets from JAL. Both Adani companies have positioned themselves to capitalize on different opportunities through their respective acquisition strategies.

Adani Ports' Focus Areas:

• Aviation Assets: Direct acquisition of certain aviation-related assets from JAL's portfolio
• Industrial Holdings: Indirect control over Kanpur Fertilizers and Chemicals Limited, which possesses industrial and commercial lands in Kanpur

Adani Power's Target Assets:

• Power Assets: Acquisition of certain power-related assets from JAL
• Strategic Investments: Acquiring investments from JAL's portfolio

Implementation Structure

Adani Ports plans to implement its participation through a multi-entity structure, providing operational flexibility and strategic positioning:

Adani Power Limited has expressed its interest directly as an implementing entity, focusing specifically on power sector assets that align with its core business operations.

Regulatory Compliance and Market Communication

Both companies have emphasized that all proposed acquisitions and implementations remain subject to necessary regulatory approvals. Adani Power formally communicated its interest through an official intimation to BSE Limited and National Stock Exchange of India Limited on March 19, 2026, demonstrating commitment to transparency and regulatory compliance.

The participation of multiple Adani Group entities in JAL's resolution plan reflects a coordinated approach to asset acquisition, with each company targeting assets that complement their respective business portfolios. This strategic diversification could potentially strengthen the Adani Group's position across aviation, industrial, and power sectors while supporting JAL's resolution process.

Prime Minister Narendra Modi inaugurated India's first fully automated dry bulk facility at the Haldia Terminal, operated by Adani Ports & SEZ . The Haldia Bulk Terminal (HBT) represents a landmark development in India's port infrastructure modernization with an annual capacity of 4.00 MMTPA and advanced automation capabilities.

Infrastructure and Capacity Details

The newly commissioned facility is strategically positioned on the western bank of the Hooghly River within the Haldia Dock Complex of Syama Prasad Mookerjee Port, Kolkata. Developed under a 30-year concession through the Design, Build, Finance, Operate and Transfer (DBFOT) model, the terminal was completed within its construction timeline from July 14, 2023 to commissioning.

Advanced Automation Features

The terminal incorporates cutting-edge automation technology with comprehensive infrastructure upgrades. Key installations include a 2,000 T Railway Wagon Loading System (RWLS) with a dedicated 1.54 km railway line enabling direct ship-to-train cargo evacuation, eliminating traditional jetty dumping practices.

Strategic Impact and Leadership Vision

According to Mr. Ashwani Gupta, Whole-time Director & CEO of APSEZ, the terminal brings full mechanisation and direct rail evacuation to the Hooghly, setting new efficiency benchmarks for India's eastern seaboard. The facility eliminates jetty dumping and reduces cargo loss through advanced automated systems, ensuring cleaner and more sustainable operations.

The east coast accounts for approximately 60% of India's dry bulk imports, including coal, bauxite and limestone. The Haldia Terminal's strategic location makes it the most efficient maritime entry point for steel, aluminium and power industries across West Bengal, Odisha and Jharkhand, materially reducing logistics costs and turnaround times.

National Infrastructure Alignment

The Haldia Terminal directly supports India's Sagarmala programme and the PM Gati Shakti National Master Plan, both prioritising multimodal port infrastructure to reduce the country's logistics costs. The facility's dedication by Prime Minister Modi underscores its national strategic importance in modernising India's eastern seaboard infrastructure.