CCI approves Dalmia Bharat’s bid for Jaiprakash Associates
Representative image created by AI NEW DELHI: The Competition Commission of India (CCI) has granted approval for Dalmia Bharat’s acquisition of Jaiprakash Associates Ltd (JAL), which is undergoing the insolvency resolution process. As stipulated by the Insolvency and Bankruptcy Code (IBC), approval from the competition authority is essential for submitting a resolution plan to participate in the bidding process. Other interested candidates in acquiring the financially troubled JAL, which spans various sectors including cement, real estate, hospitality, and fertilizer, include Adani Enterprises, Vedanta Group, Jindal Power, and PNC Infratech, all of whom have sought CCI approval for their respective plans.…
