The Competition Commission of India (CCI) has approved Dalmia Bharat’s proposal to acquire Jaiprakash Associates Ltd (JAL), which is undergoing corporate insolvency resolution. As per PTI, the clearance is a statutory requirement under the Insolvency and Bankruptcy Code (IBC) for the submission of resolution plans to the Committee of Creditors (CoC).
Resolution process sees multiple bidders
The proposed acquisition involves a 100 per cent stake in JAL by Dalmia Cement (Bharat) Ltd, a wholly…