The Competition Commission of India (CCI) has granted in-principle approval to mining conglomerate Vedanta Ltd’s proposal to acquire Jaiprakash Associates Ltd (JAL), which is currently undergoing insolvency proceedings.
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Fair trade regulator CCI on Tuesday said it has given in-principle approval to mining conglomerate Vedanta’s proposal to acquire debt-ridden Jaiprakash Associates, should it win a bid in the ongoing insolvency proceeding.
Apart from Vedanta, the proposals of Naveen Jindal-led Jindal Power, PNC Infratech, Adani Group and Dalmia Bharat for JAL acquisition have been cleared by the regulator.
“The proposed combination…