New Delhi: Mining baron Anil Agarwal has said in a post on social media that Vedanta had received written confirmation that it had won a bid for a Jaypee Group asset, but that this decision was subsequently reversed – in favour of Adani Group, whom he did not name in the post. The CEO of Vedanta, Agarwal has not elaborated on the reasons, noting that he does not “want to go into the details.” Shortly after this post, several news outlets reported that Vedanta has moved the Supreme Court, seeking a stay on the resolution plan submitted by the Adani Group for the Jaypee Group’s assets.In the X post, Agarwal shared a September 5, 2025 news clipping of Vedanta winning the Rs 17,000-crore bid to acquire the insolvent Jaiprakash Associates Ltd. The clipping notes that multiple companies participated in the bidding process, and Vedanta and Adani Group were the only two companies to place firm bids. The others who participated include Dalmia Bharat, Jindal Power and PNC Infratech.Agarwal started the post noting that life had “tested” a tenet of the Bhagvad Gita that exhorted the reader to stay humble and do their duty without attachment.He wrote of memories of his interactions with Japyee group founder Jaiprakash Gaur, who had earlier seemingly told Agarwal that the group’s assets be passed on to safe hands.“Some years ago, Shri Jaiprakash Gaur, who built Jaypee Group, came to meet me in London. He had built an empire over his lifetime with hard work and vision. He reached out more than once. He wrote to me. His only wish was simple that what he had built should go into safe hands and be taken forward with the right intent. He even wrote me letters in Hindi, in his own words, expressing his trust. At that time, we could not proceed.”Agarwal then described the public auction of the JAL. “Suddenly, the sentiment and wishes of Jaiprakash Gaur ji came rushing back to me. One by one, everyone dropped out of the bidding. Finally, we were declared the highest bidder publicly.”Agarwal added, “It was a transparent process. We were informed in writing that we had won. But life is never so simple. After some days, the decision was changed.”PTI has reported that the Committee of Creditors (CoC) of JAL evaluated the rival bids and subsequently went to the insolvency court NCLT for approval of the Adani bid. The NCLT’s Allahabad bench approved the bid, against which Agarwal’s Vedanta group has filed a challenge before the appellate body NCLAT.National Company Law Appellate Tribunal (NCLAT), in the second hearing last week, according to the PTI report, did not stay NCLT’s decision approving Adani’s bid for the JAL.Agarwal said he did not want to go into the details of the reversal of his group’s winning bid. He wrote:“That is for the right forum. But I want to share something from my heart. We have no attachment to this asset. If it comes, it is God’s grace. If it goes, that is also his wish. But one thing we believe strongly. When something is promised in dharma, it should not be taken back. In our scriptures also, we see this again and again. Truth, commitment, and fairness are above everything. So, what should one do? Gita gives a simple answer – do your duty, with courage, but without anger or attachment. That is what we will do. We will place the facts in the right way. We will follow the right path. Rest, I leave to God.”PTI has further reported that in November last year, the CoC approved the resolution plan by Adani to acquire JAL. Adani Enterprises got the maximum 89% votes from creditors, followed by Dalmia Cement (Bharat) and Vedanta Group. The CoC, however, defended its decision, saying the process complied with all insolvency and Bankruptcy Code (IBC) rules. They maintained that no bidder has a guaranteed right to win, even if it offers the highest value.