The Competition Commission of India (CCI) has approved the acquisition of food and agri products manufacturer Ruchi Soya by consumer edible oils major Adani Wilmar.
Adani was the highest bidder for Ruchi Soya, which is facing insolvency proceedings with bids.
“@CCI_India finds no Appreciable Adverse Effect on Competition in proposed acquisition of Ruchi Soya by Adani Wilmar Ltd,” a tweet by CCI said on Monday.
In June, yoga guru Ramdev promoted Patanjali Ayurved had raised concerns about Adani Wilmar’s eligibility to bid for the company.
Last year, Ruchi Soya Industries Ltd (RSIL) entered into the Corporate Insolvency Resolution Process (CIRP).