New Delhi: Fair trade regulator CCI has said it has not found any anti-competition concerns with respect to Rajputana Properties' proposed purchase of Binani Cement, which is under insolvency proceedings.
On February 12, Rajputana Properties had filed a resolution plan for Binani Cement under the Insolvency and Bankruptcy Code (IBC).
The company has proposed to acquire 80 percent stake in Binani Cement.
"In its first IBC, 2016 filing, @CCI_India finds no AAEC (Appreciable Adverse Effect on Competition) in respect of Rajputana Properties' proposed acquisition of Binani Cement," the regulator said in a tweet.
The Competition Commission of India (CCI) also said that it completed the assessment in 13 working days.
Zee News App: Read latest news of India and world, bollywood news, business updates, cricket scores, etc. Download the Zee news app now to keep up with daily breaking news and live news event coverage.
