NEW DELHI: Billionaire Gautam Adani-promoted Adani group on Tuesday sought approval from the Competition Commission of India (CCI) to acquire Jaiprakash Associates Ltd.
The development came after Adani group reportedly made an unconditional bid for debt-ridden Jaiprakash Associates Ltd (JAL), which is undergoing corporate insolvency resolution process (CIRP).
“The proposed combination relates to the acquisition of up to 100 per cent of the shareholding of the target (Jaiprakash Associates Ltd) by the acquirers (Adani Enterprises Ltd and Adani Infrastructure and Developers Pvt Ltd) or any other entity forming part of the Adani Group,” according to a…