New Delhi : Metals and mining giant Vedanta on Monday said it has got the go-ahead from fair trade watchdog CCI to acquire the bankrupt Electrosteel Steels.
The statement follows NCLT last month approving the resolution plan submitted by Vedanta for Electrosteel Steels. “Vedanta has received the approval from the Competition Commission of India (CCI) for the application made by it for the acquisition of Electrosteel,” it said.
In a tweet, the CCI said it finds “no Appreciable Adverse Effect on Competition (AAEC) in respect of proposed acquisition of Electrosteel Steels by Vedanta”.