Jsw Energy Limited, Mumbai, Maharashtra
Case brief
What is this about?
The Competition Commission of India, upon a notice filed by JSW Energy Limited, examined a proposed combination involving power plant transfer and stake acquisition. The Commission found insignificant market share and concluded the combination would not adversely affect competition.
What did the court decide?
The proposed combination is approved under Section 31(1) of the Act.
What the court decided
A compact analysis
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
COMPETITION COMMISSION OF INDIA (Combination Registration No. C-2016/05/399)
Fair Competition For Greater Good
01.07.2016
Notice under Section 6 (2) of the Competition Act, 2002 given by JSW Energy Limited
CORAM:
Mr. Sudhir Mital Member Mr. U.C. Nahta Member Mr. M.S. Sahoo Member Mr. G. P. Mittal Member
Legal representative: Cyril Amarchand Mangaldas
Order under Section 31(1) of the Competition Act, 2002
- On 13.05.2016, the Competition Commission of India (“ Commission ”) received a notice under sub-section (2) of Section 6 of the Competition Act, 2002 (“ Act ”) filed by JSW Energy Limited (“ JSWEL ” or “ Acquirer ”). The notice has been filed pursuant to execution of a Securities Purchase Agreement (“ SPA ”) on 03.05.2016 between JSWEL, Jindal Power Limited “( JPL ”), Everbest Steel and Mining Holdings Limited (“ SPV ”) and Jindal Steel and Power Limited (“ JSPL) .
- The proposed combination relates to (a) transfer of a 1000 MW operational coal fired thermal power plant at Tamnar, Chhattisgarh (“ Target Asset ”), currently owned by JPL, to SPV on a going concern basis pursuant to a scheme of arrangement amongst JPL, JSPL and the SPV; and (b) subsequent acquisition of 100 per cent stake in the SPV by JSWEL.
Issues for consideration
2 issues framed by the court
Whether the proposed combination by JSW Energy Limited regarding a power plant transfer and SPV acquisition is likely to have an appreciable adverse effect on competition in India.
Whether the combined market share of the acquirer and target asset raises any competition concern.
Parties & counsel
- petitioner
Competition Commission of India
- applicant
JSW Energy Limited
Coram
Mr. Sudhir Mital
Case details
As recorded by the court registry
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