<h1>Competition regulator clears acquisition of CIRP-bound target by power sector acquirer under Insolvency and Bankruptcy Code, 2016</h1> The Competition Commission approved the acquisition of a target company by an acquirer pursuant to a corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016. The acquirer is a company incorporated under the Companies Act and active in the power sector, with group affiliates operating in steel, energy and mining internationally. The target operates across real estate, cement, hospitality and EPC businesses and is currently under CIRP. The decision clears the proposed combination subject to any conditions in the detailed order to follow.