Vedanta gets CCI’s nod to acquire Jaiprakash Associates

The Competition Commission of India has approved Vedanta Limited’s acquisition of Jaiprakash Associates Limited following the corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016.

“The Proposed Combination envisages acquisition of Jaiprakash Associates Limited (JAL) by Vedanta Limited (Buyer) pursuant to corporate insolvency resolution process (CIRP) under the Insolvency and Bankruptcy Code, 2016 (IBC),” the Commission said in a statement on Tuesday (October 14).

(This is a developing story. Check back for more updates.)