Lenders tell NCLAT JAL bidder selection was fair not tailor made rejecting Vedanta late offer

Vedanta’s late cash bump was blocked for breaking rules

Lenders defending the Jaiprakash Associates bid process before the NCLAT say selecting Adani Enterprises was fair and transparent. They rejected Vedanta’s late addendum offering more money, arguing it violated the pre-set bidding framework and would have prolonged delays. The hearing centers on claims that the process was tailored versus competitively handled under the original timelines and terms.