PNC Infratech Ltd has issued a clarification regarding media reports that claimed the Competition Commission of India (CCI) cleared its acquisition of Jaiprakash Associates Ltd (JAL). The company stated that the caption was factually incorrect, noting that no acquisition has been concluded yet and that the resolution plan remains under consideration by the Committee of Creditors (CoC) .
The chronology of events outlined by the company is as follows:
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On June 3, 2024, JAL was admitted into the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC).
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On June 23, 2025, PNC Infratech submitted its initial resolution plan to the CoC.
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On August 11, 2025, following a Supreme Court directive that CCI approval is a mandatory pre-condition for resolution plans involving combinations, the company filed for clearance with the CCI.
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On September 16, 2025, PNC Infratech received communication from the CCI approving the proposed acquisition contemplated in the resolution plan, provided it is ultimately approved by the CoC.
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On September 17, 2025, a news item misrepresented this as a completed acquisition .
The company emphasized that it remains in full compliance with SEBI’s Listing Obligations and Disclosure Requirements (LODR) and has not withheld any price-sensitive information from the exchanges .
