CCI approves proposed combination between Bhushan Power and Steel Ltd, JSW Sambalpur Steel, JFE Steel Corp. and JSW Kalinga Steel

• Competition Commission of India (CCI) approved a multi-leg combination involving Bhushan Power and Steel Ltd (BPSL), JSW Sambalpur Steel Ltd, JFE Steel Corporation (Japan) and JSW Kalinga Steel Ltd on 20 January 2026.
• Combines an Indian distressed-asset acquisition (BPSL, an erstwhile IBC resolution asset of JSW) with a Japan-India steel JV structure (JSW–JFE 50:50). Tests UPSC GS-III aspirants on competition law, FDI in steel, and M&A regulation.
• Demonstrates CCI's "Green Channel"/Section 31(1) approval regime under the Competition Act, 2002.