JAL creditors opt for Adani offer: Chosen over higher Vedanta bid due to better prepayment terms

Creditors of Jaiprakash Associates have unanimously favored Adani Enterprises' bid over Vedanta's, despite Vedanta offering a higher overall value. Lenders prioritised Adani's offer due to higher upfront payments, though the net present value was slightly lower. This decision, which concluded Tuesday, could face legal challenges as Adani was not the highest bidder.