CCI Clears Dalmia's Bid To Acquire Jaiprakash Associates

07 Aug 2025 CW Team

The CCI confirmed the clearance in a press statement issued on Tuesday, noting that a detailed order will be released in due course. The acquisition is part of a corporate insolvency resolution process (CIRP), and Dalmia Cement is a wholly owned subsidiary of Dalmia Bharat Limited (DBL), the flagship company of the Dalmia Bharat Group, which is primarily involved in cement manufacturing and sales.

JAL, a diversified conglomerate, is active in sectors including real estate, cement, hospitality, and engineering, procurement and construction. The company entered insolvency proceedings on 3 June 2024.

Alongside Dalmia, other bidders for JAL include the Adani Group, whose application is still pending with the CCI, as well as Vedanta Group, Jindal Steel & Power Ltd (JSPL), and PNC Infratech. The lenders had recently asked all resolution applicants to submit revised proposals free of conditional clauses and with clearly defined bid amounts.

However, many bids remain dependent on the outcome of an ongoing legal dispute surrounding Jaiprakash’s 1,000-hectare Sports City project in Greater Noida. In March, the Allahabad High Court upheld the Yamuna Expressway Industrial Development Authority’s (Yeida) decision to cancel the project’s land allotment. The case is now pending before the Supreme Court.

Following a recent Supreme Court ruling, resolution applicants must now obtain CCI approval before seeking clearance from the CoC. The Ministry of Corporate Affairs is, however, expected to propose amendments to the IBC that would clarify this requirement and potentially allow bids to be submitted without prior antitrust clearance.

The Competition Commission of India (CCI) has approved the proposed acquisition of a 100 per cent stake in Jaiprakash Associates Limited (JAL) by Dalmia Cement (Bharat) Limited. JAL is currently undergoing insolvency resolution proceedings under the Insolvency and Bankruptcy Code (IBC), 2016. This approval marks a significant step ahead of the final decision by the committee of creditors (CoC), which is yet to select the successful bidder.The CCI confirmed the clearance in a press statement issued on Tuesday, noting that a detailed order will be released in due course. The acquisition is part of a corporate insolvency resolution process (CIRP), and Dalmia Cement is a wholly owned subsidiary of Dalmia Bharat Limited (DBL), the flagship company of the Dalmia Bharat Group, which is primarily involved in cement manufacturing and sales.JAL, a diversified conglomerate, is active in sectors including real estate, cement, hospitality, and engineering, procurement and construction. The company entered insolvency proceedings on 3 June 2024.Alongside Dalmia, other bidders for JAL include the Adani Group, whose application is still pending with the CCI, as well as Vedanta Group, Jindal Steel & Power Ltd (JSPL), and PNC Infratech. The lenders had recently asked all resolution applicants to submit revised proposals free of conditional clauses and with clearly defined bid amounts.However, many bids remain dependent on the outcome of an ongoing legal dispute surrounding Jaiprakash’s 1,000-hectare Sports City project in Greater Noida. In March, the Allahabad High Court upheld the Yamuna Expressway Industrial Development Authority’s (Yeida) decision to cancel the project’s land allotment. The case is now pending before the Supreme Court.Following a recent Supreme Court ruling, resolution applicants must now obtain CCI approval before seeking clearance from the CoC. The Ministry of Corporate Affairs is, however, expected to propose amendments to the IBC that would clarify this requirement and potentially allow bids to be submitted without prior antitrust clearance.

Infrastructure Urban

13 Oct 2025

Recycling Leaders Push for Policy Reforms in India

As India prepares for the largest recycling-focused event in its history, industry leaders are making a strong case for policy reforms to unlock the country’s circular economy potential. Ahead of the Bharat Recycling Show (BRS) 2025, co-located with Plastics Recycling Show (PRS) India, a high-level panel discussion in Mumbai spotlighted the urgent need for regulatory clarity, digital innovation, and integration of the informal sector.Held under the theme “Unlocking Circular Value: Regulatory and Market Trends in Recycling”, the panel brought together prominent voices from across the recy..

Infrastructure Energy

13 Oct 2025

Environmental Hearing Set for 1000 MW Naying Hydro Project

The environmental public hearing for the 1,000 MW Naying hydroelectric project will take place on November 12 at Yapik community hall in Shi-Yomi district, Arunachal Pradesh, officials confirmed. The run-of-the-river project on the Siyom (Yomgo) river is being developed by the North Eastern Electric Power Corporation (NEEPCO). Construction, including a concrete dam, underground powerhouse, and tunnel, is expected to commence around 2028, with commissioning planned by 2032. The project aims to generate approximately 4,966.77 GWh of electricity. The Naying project received Central Electricity ..

Infrastructure Energy

13 Oct 2025

India Achieves 490 MWh Energy Storage Capacity by June 2025

India’s cumulative energy storage capacity reached 490 MWh by June 2025, according to data released by the Central Electricity Authority (CEA). Of this, more than 85 per cent is associated with renewable energy projects, primarily solar and wind, reflecting the country’s accelerated shift towards grid stability and clean energy integration. The CEA report highlights that 16 energy storage systems are currently operational across 10 states, with major installations in Rajasthan, Gujarat, Karnataka, and Maharashtra. These include both standalone and co-located battery systems deployed by le..