Adani Group seeks approval to acquire Jaiprakash Associates
NEW DELHI: The Adani Group, led by billionaire Gautam Adani, has requested the Competition Commission of India (CCI) for approval to acquire Jaiprakash Associates Ltd (JAL). This move follows an unconditional bid made by the Adani Group for the financially troubled JAL, currently undergoing a corporate insolvency resolution process (CIRP). The notice submitted to the CCI states, “The proposed acquisition pertains to owning up to 100% of the shareholding in Jaiprakash Associates Ltd by Adani Enterprises Ltd and Adani Infrastructure and Developers Pvt Ltd or any related entity within the Adani Group.” Adani Enterprises Ltd (AEL) is the leading company…