The Competition Commission of India (CCI) has approved Jindal Power Limited’s acquisition of debt-laden Jaiprakash Associates Limited, the Press Information Bureau (PIB) reported on Tuesday, September 30. The transaction, cleared under the corporate insolvency resolution process (CIRP) of the Insolvency and Bankruptcy Code, 2016, is seen as a key step in resolving one of India’s major stressed assets.

Clearance under IBC

According to the regulator, the proposed deal involves Jindal Power taking control of Jaiprakash Associates through the ongoing insolvency proceedings. A detailed order will be issued later, setting out the full terms of the approval. The clearance reflects the IBC’s role in enabling time-bound resolutions while safeguarding competition in the market.

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