The Competition Commission of India (CCI) has approved the proposed acquisition of Jaiprakash Associates Limited (JAL) by PNC Infratech Limited (PNC Infratech).

The Proposed Combination involves PNC Infratech acquiring a minimum of 95 per cent and up to 100 per cent of JAL, either directly or through a special purpose vehicle wholly owned by the Acquirer. JAL is currently under the corporate insolvency resolution process governed by the Insolvency and Bankruptcy Code, 2016.

PNC Infratech is a publicly listed infrastructure company in India, primarily executing Engineering, Procurement, and Construction (EPC) projects in the road and highway sector. Its core activities include constructing highways, expressways, bridges, flyovers, airport runways, and other infrastructure projects.

JAL is a diversified infrastructure and industrial company operating across hydropower generation, cement manufacturing, real estate, hospitality, and EPC contracting.