Fair trade regulator CCI on Tuesday said it has given in-principle approval to mining conglomerate Vedanta's proposal to acquire debt-ridden Jaiprakash Associates, should it win a bid in the ongoing insolvency proceeding.

Apart from Vedanta, the proposals of Naveen Jindal-led Jindal Power, PNC Infratech, Adani Group and Dalmia Bharat for JAL acquisition have been cleared by the regulator.

"The proposed combination envisages acquisition of Jaiprakash Associates Ltd (JAL) by Vedanta Ltd (acquirer) pursuant to a corporate insolvency resolution process (CIRP) under the Insolvency and Bankruptcy Code, 2016," the regulator said in a release.

The Competition Commission of India (CCI) said it has approved the acquisition of Jaiprakash Associates Ltd (JAL) by Vedanta Ltd.

"Commission approves a

See Full Page