CCI approves Dalmia Bharat”s acquisition of Jaiprakash Associates under IBC. Key players like Adani also in the bidding process.
New Delhi, Aug 5 (PTI) The Competition Commission of India (CCI) on Tuesday approved Dalmia Bharat’s proposal to acquire the debt-laden Jaiprakash Associates Ltd (JAL), which is going through the insolvency resolution process.
Under the provision of the Insolvency and Bankruptcy Code (IBC), an approval from the competition watchdog is a key requirement for submission of resolution plan to participate in the bidding process.
Besides Dalmia Bharat, several other players that have shown their interest to acquire the debt ridden JAL, which operates from cement to real estate, hospitality to fertiliser plant.
Players…