Jindal Power gets CCI nod in bid for Jaiprakash Associates
Fair trade regulator CCI on Tuesday said it has given in-principle approval to Naveen Jindal-led Jindal Power’s proposal to acquire debt-ridden Jaiprakash Associates, should it win a bid in the ongoing insolvency proceeding.
Apart from Jindal Power, the proposals of PNC Infratech, Adani Group and Dalmia Bharat for JAL acquisition have been cleared by the regulator.
“Commission approves acquisition of Jaiprakash Associates Limited by Jindal Power Ltd,” the regulator said in a post on X. The Competition Commission of India (CCI) said it has approved the acquisition of Jaiprakash Associates Ltd (JAL) by Jindal Power.
