NEW DELHI, April 6 (Reuters) - India's top court on

Monday rejected billionaire Anil Agarwal-led Vedanta's plea to

pause the acquisition by Adani group of a bankrupt real estate

giant, which includes a $4 billion pool of prized assets

including India's only Formula One track.

Agarwal's Vedanta is fighting in courts against the decision of

a lenders' panel to give the assets of bankrupt Jaiprakash

Associates to fellow tycoon Gautam Adani's group, setting up a

battle between billionaires for assets including homes, power,

cement plants and the Buddh International Circuit track near New

Delhi.

Vedanta's challenge in the Supreme Court was declined as the

judges said a lower tribunal was fit to hear the concerns of the

group, and the top court does not need to interfere in the

proceedings.

Vedanta argues that its $1.8 billion bid was better, but the

lenders' panel decided in Adani's favour as its $1.5 billion bid

had higher upfront payments.

The acquisition could boost Adani group's real estate

plans, which include its other key projects in Mumbai, including

the redevelopment of one of Asia's largest slums, Dharavi.

Adani's son, Karan Adani, said at a public event last month

that he is "very personally engaged" with bringing F1 back to

India after a 13-year absence.