Jaiprakash Gaur backs Adani Group’s acquisition of JAL assets

New Delhi: Jaypee Group founder Jaiprakash Gaur on Friday threw his support behind the Adani Group taking over his insolvent infrastructure firm JAL, saying he has full confidence in Gautam Adani’s leadership to take the group forward. The statement came days after rival bidder Vedanta Ltd’s Anil Agarwal claimed that Gaur wanted Jaiprakash Associates Ltd (JAL) to be in the ‘safe hands’ of his mining conglomerate.

“I appreciate the fair and transparent process conducted by the Committee of Creditors and the Resolution Professional, and I thank both the Adani Group and the Vedanta Group for their participation and interest. “The Committee of Creditors (CoC) has selected the Adani Group as the successful resolution applicant, and we fully respect this decision,” Gaur said.