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Dalmia gets CCI nod to acquire Jaiprakash Associates
Dalmia Bharat just got the go-ahead from India's competition watchdog to acquire Jaiprakash Associates Ltd (JAL) through its cement arm.
This approval is a big deal for JAL's ongoing insolvency process, as it lets Dalmia officially submit its rescue plan for a creditor vote.
JAL's ₹57,185 crore debt
JAL has been struggling under a massive ₹57,185 crore debt and was pushed into insolvency back in June.
Its assets include idle cement plants and stuck real estate projects like Jaypee Greens.
While Dalmia is leading the race, other big players—like Adani, Vedanta, Jindal Power, and PNC Infratech—are also lining up with their own bids to take over what remains of JAL.