Competition Commission of India clears SpiceJet deal with Ajay Singh


Fair trade watchdogCompetition Commission of India today cleared Ajay Singh's proposal to acquire a majority stake in cash-strapped SpiceJet, moving closer to the much-needed recapitalisation of the budget carrier. 
With clearance from the CCI, the low-cost carrier's original promoter is closer to taking the management reins and ownership of SpiceJet. 
Sources said that CCI today approved the deal that would see Singh acquiring more than 58 per cent stake in SpiceJet. 
The Commission has already communicated to Singh about its approval, sources added. 

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