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.