Last week the Competition Commission of India (CCI) approved mining major Vedanta’s ₹17,000-crore bid for Jaiprakash Associates Ltd (JAL), the bankrupt flagship entity of Noida’s Jaypee Group. In doing so, it set the stage for a high-stakes contest with the Adani Group, whose ₹12,600-crore bid for JAL was approved in August. Despite carrying total liabilities of ₹55,371 crore as of 30 September 2025, JAL has emerged as one of India’s most coveted acquisition targets. To date, CCI has approved bids from six ...