Claim That Adani Lower Bid Won Over Higher Vedanta Bid By Unfair Means is Misleading

Recently, reports emerged that Vedanta Limited has approached the Supreme Court, challenging the approval of Adani Enterprises bid to acquire the debt-ridden company Jaiprakash Associates Limited under India’s insolvency process. Vedanta Chairman Anil Agarwal has argued that while Adani placed a bid of approximately ₹14,535 crore, his company’s proposal, which offered a total of ₹17,000 crore, was financially stronger; furthermore, he had even received written notification confirming that they had won the bid. However, this decision was subsequently overturned, and Adani’s plan was approved.

Meanwhile, the Congress Kerala claimed on X that Vedanta Limited had submitted a higher bid of ₹17,000 crore for Jaiprakash Associates; yet, despite this, the Adani Group was declared the winner with a lower bid of ₹14,535 crore. This claim is being used to suggest the unfair practices within the system and is also being linked to the broader narrative that such incidents are driving Indian entrepreneurs to leave the country. (Archived link)

Also Read: Claim About Teen Subhan Malik Killed by Hindu Friends in Delhi Is False

Fact Check

In our fact-check, we found it to be true that Adani’s bid of ₹14,535 crore was approved by the Committee of Creditors, which comprises the bank and financial institutions that had lent the money to Jaiprakash Associates, and was subsequently cleared by the National Company Law Tribunal (NCLT) as well. Although, Vedanta had submitted a bid of ₹17,000 crore for Jaiprakash Associates, but the claim overlooks how insolvency (bankruptcy) related decisions are actually made.

According to reports, Jaiprakash Associates had accumulated a heavy debt burden over the preceding years, largely driven by extensive borrowing. Currently, the company owes 550 billion to its creditors. As the company’s revenue started declining, it struggled to repay the loans. Subsequently, the NCLT commenced an insolvency proceeding against Jaiprakash Associates in June 2024, after it accepted a petition filed by ICICI Bank which stated that Jaiprakash Associates defaulted on significant loan repayments.

According to a Reuters report from November 2025, during the insolvency proceedings, Vedanta Limited submitted a higher bid of ₹17,000 crore, whereas Adani Enterprises bid ₹14,535 crore. However, the creditors opted for Adani’s proposal. The report noted that Adani’s offer included a significantly larger upfront payment (approximately ₹6,000 crore) and proposed a more favorable and expedited timeline of 1.5 to 2 years for the remaining payments. In contrast, the payment structure of Vedanta’s bid was weaker compared to Adani’s. It proposed providing a smaller amount (approximately ₹3,800–4,000 crore) to the creditors as an immediate cash payout, with the balance to be paid over a period of five years. This implied that although the creditors were offered a higher bid value, they would have had to wait longer for the recovery of the money.

The report further states that Adani received 89% of the votes from the CoC, which was the highest among all bidders. Adani secured the highest percentage of votes primarily because his proposal included the payment of a substantial upfront amount and the expedited recovery of funds, which was scheduled to take place within two years. Under insolvency proceedings, the decision to select a proposal rest with the lenders (banks); acting as creditors, they choose the proposal that holds the highest probability of success and ensures the swift and secure recovery of funds.

In conclusion, the claim of Adani winning the bid over Vedanta by improper means is misleading. The claim focuses solely on the total bid amount while overlooking how decisions regarding insolvency are actually made. Under the Insolvency and Bankruptcy Code, lenders select the resolution plan that ensures the safe and quick recovery, not just the higher monetary offer. In Jaiprakash Associated case, Adani enterprises although offered a slightly lower bid than Vedanta, it offered a large upfront payment and faster payment schedule.

Claim	Adani Enterprises unfairly won the Jaiprakash Associates Limited bid over Vedanta Limited.
Claimed by	Congress Kerala
Fact check	The claim is misleading. Adani Enterprises bid was approved by the creditors and NCLT under the Insolvency and Bankruptcy Code; this occurred because the company had proposed higher upfront payments and a faster recovery process to the creditors.

Also Read: Claim that Retired Indian Army Brigadier Killed by Unknown Men in Dehradun Over Terrorism Is False