Adani Power proposes to acquire a 100% stake and control of bankrupt Lanco Amarkantak following a corporate insolvency resolution process (CIRP), the CCI said. Last month, Adani Power reportedly won the bid for the debt-laden firm for Rs 4,101 crore. “The proposed transaction does not result in an appreciable adverse effect on competition in any plausible relevant market in India. Accordingly, the definition of the relevant market may be left open,” the CCI said.
Adani Power proposes to acquire 100 per cent share capital and control of the Lanco Amarkantak Power, pursuant to the corporate insolvency resolution process (CIRP) initiated under the Insolvency and Bankruptcy Code, 2016 (IBC), according to a release.
CCI approves 100 pc acquisition of Lanco Amarkantak Power by Adani Power bignewsnetwork.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bignewsnetwork.com Daily Mail and Mail on Sunday newspapers.
CCI approves 100 pc acquisition of Lanco Amarkantak Power by Adani Power aninews.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from aninews.in Daily Mail and Mail on Sunday newspapers.