Mumbai, Nov. 20 -- Adani Enterprises said it received the Letter of Intent from the Resolution Professional on 19 November at 3:05 p.m. after the Committee of Creditors approved its resolution plan. JAL is undergoing corporate insolvency proceedings and has interests in engineering, construction, cement, power, real estate, fertilisers and hospitality through its subsidiaries and affiliates.

Adani stated that the plan's implementation requires clearance from the National Company Law Tribunal's Allahabad Bench and other regulatory bodies. The resolution may be executed through Adani Enterprises or other Adani group entities, including special purpose vehicles.

Media reports indicated that Adani's Rs 13,500 crore bid prevailed over Vedant...