NTPC Ltd.
Case brief
What is this about?
The Competition Commission of India approved the proposed combination of NTPC Ltd. acquiring 100% of Jhabua Power Limited under the IBC.finding that the incremental market share was insignificant and no relevant appellate or adjudicatory concerns were raised by the merger.
What did the court decide?
The proposed combination is approved under Section 31(1) of the Competition Act, 2002.
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-2020/02/728)
01.04.2020
Notice under Section 6(2) of the Competition Act, 2002 filed by NTPC Ltd.
CORAM:
Mr. Ashok Kumar Gupta Chairperson
Ms. Sangeeta Verma Member
Mr. Bhagwant Singh Bishnoi Member
Order under Section 31(1) of the Competition Act, 2002
- On 24.02.2020, the Competition Commission of India ( Commission ) received a notice ( Notice ) filed by NTPC Limited ( NTPC/ Acquirer ) in relation to acquisition of 100% of paid-up share capital of Jhabua Power Limited ( Jhabua/ Target ) ( Proposed Combination ).
- The notice has been filed pursuant to a Resolution Plan dated 30.12.2019, submitted by NTPC in relation to the Target, which is presently undergoing corporate insolvency resolution process initiated under the Insolvency and Bankruptcy Code, 2016 ( IBC 2016 ), under sub-section (2) of Section 6 of the Competition Act, 2002 ( Act ). (Hereinafter, NTPC and Jhabua are collectively referred to as “ Parties ”).
Issues for consideration
3 issues framed by the court
Whether the proposed combination between NTPC Ltd. and Jhabua Power Limited under the IBC is likely to have any appreciable adverse effect on competition in India.
Whether the Commission can approve a combination filed during an insolvency resolution process under the IBC without strict market definition.
Whether the incremental market share of the proposed combination raises competition concerns.
Parties & counsel
- petitioner
Competition Commission of India
- respondent
NTPC Ltd.
Coram
Ashok Kumar Gupta
Case details
As recorded by the court registry
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