New Delhi, May 12 (PTI) Fair trade regulator CCI on Tuesday approved billionaire Gautam Adani-led Adani Power Ltd's proposal to acquire GVK Energy.

GVK Energy Ltd, through its subsidiary AHPL, is engaged in the generation of power from a 330 MW hydroelectric power project in Srinagar, Uttarakhand.

"The proposed combination involves the acquisition of 100 per cent share capital and control of the target (GVK Energy Ltd) by the acquirer (Adani Power Ltd) pursuant to the corporate insolvency resolution process initiated under the Insolvency and Bankruptcy Code, 2016, in respect of the target," the regulator said in a release.

Adani Power is a private thermal power producer and operates plants spread across Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh, Madhya Pradesh, Jharkhand, and Tamil Nadu, apart from a 40 MW solar power plant in Gujarat.

"CCI approves acquisition of 100 per cent share capital of GVK Energy Limited by Adani Power Limited," the regulator said in a post on X.

In a separate release, the Competition Commission of India (CCI) cleared the acquisition of a 7.14 per cent stake in Llyods Engineering Works Ltd by Thriveni Earthmovers Pvt Ltd.

Thriveni Earthmovers provides contract mining services, including exploration, drilling, mining, excavation, hauling, sizing, processing and transportation of minerals.

The regulator also granted its nod for the merger of three entities -- Lloyds Infrastructure & Construction, Metalfab Hightech and Techno Industries -- into LEWL, which is the surviving entity, after the completion of the amalgamation.

"CCI approves the acquisition of 7.14 per cent stake in Llyods Engineering Works Limited by Thriveni Earthmovers Private Limited and merger of three entities into Lloyds Engineering Works Limited," the anti-trust regulator said on X.

Llyods Engineering Works Ltd (LEWL) is involved in the design and manufacturing of heavy equipment and machinery for various sectors, including hydrocarbon, naval, defence, steel, power, and marine and construction contracting.

Deals beyond a certain threshold require approval from the regulator, which keeps a tab on unfair business practices, as well as promotes fair competition in the marketplace