No anti-competition concern in Rajputana-Binani Cement deal: CCI

Fair trade regulator CCI on Wednesday 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 per cent 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.