CCI approves acquisition of Jaiprakash Associates Limited by Vedanta Limited

The Competition Commission of India has approved the acquisition of Jaiprakash Associates Limited by Vedanta Limited.

The Proposed Combination envisages acquisition of Jaiprakash Associates Limited (JAL) by Vedanta Limited (Acquirer) pursuant to a corporate insolvency resolution process (CIRP) under the Insolvency and Bankruptcy Code, 2016 (IBC).

Vedanta is incorporated in India and is a public company listed on the BSE Limited (BSE) and the National Stock Exchange of India Limited (NSE). Vedanta is a subsidiary of Vedanta Resources Limited. It is a natural resources, critical minerals, energy and technology company. It has primary operations in, inter alia, oil & gas, zinc, lead, silver, copper, iron ore, steel, nickel, aluminium and power.

JAL is an infrastructure and industrial company engaged in diverse business activities including real estate, cement, hospitality, engineering, procurement, and construction contracting. In addition, certain group companies of JAL are also engaged in power, fertilizer, sports and aviation segments.JAL is currently undergoing a CIRP under the IBC.

Related Business News

LPG Crisis Deepens Amid War; Opposition Targets Government Over Black Marketing

NEW DELHI: As the US-Israel-Iran conflict enters its fourth week, the deepening energy crisis is severely affecting households across the country, leading to a growing shortage of cooking gas. Complaints about LPG shortages and rising black marketing have intensified political confrontations an....

Gold prices surge again, silver becomes over Rs10,000 more expensive

BHUBANESWAR: On Wednesday, a sharp rise was seen in the prices of gold and silver. As a result, the price of 24-carat gold reached over ?1.46 lakh per 10 grams, while the price of silver crossed ?2.34 lakh per kg. According to the India Bullion Jewellers Association (IBJA), the price of 24-car....

Global Financial Markets: Sensex Plunges 1,836 Points, Investors Lose 13.65 Lakh Crore

Amid escalating tensions in West Asia, the Indian stock market closed with sharp declines on the first trading day of the week, Monday. The benchmark indices — Nifty50 and Sensex — fell more than 2 percent each, driven by the intensifying US-Iran conflict. At market close, the 30-s....

Gold becomes cheaper by more than ?11,000 in one week, silver prices also drop

(Fast Mail):-- Gold and silver price witnessed a significant decline this week, making gold and silver cheaper by more than ?11,000 and ?28,000 respectively. According to the India Bullion and Jewellers Association (IBJA), the price of gold fell by ?11,181 over the past week to ?1,47,218....

'This Time, the Rupee Crosses 100': Sanjay Raut Says Modi and Shah Are Busy Plotting 'Game' in Bengal

(Fast Mail):-- Political rhetoric regarding the Indian rupee's continuous depreciation has intensified. Targeting the Central Government, Sanjay Raut—a Member of Parliament from the Shiv Sena (Uddhav Thackeray faction)—stated that the rupee's weakness is a grave issue linked to the....