Punjab State Power Corporation Limited
Case brief
What is this about?
The Competition Commission of India considered an application for notification of a proposed combination involving the acquisition of GVK Power by Punjab State Power Corporation Ltd. Noting the low market shares and existing competitive constraints, the Commission held that the combination would not have an appreciable adverse effect on competition and approved it.
What did the court decide?
The Proposed Combination is approved under Section 31(1) of the Competition Act, 2002.
What the court decided
COMPETITION COMMISSION OF INDIA
(Combination Registration No.C-2023/12/1087)
2nd January 2024
Notice under Section 6(2) of the Competition Act, 2002 filed by Punjab State Power Corporation Ltd.
CORAM:
Mr. Anil Agrawal Member
Ms. Sweta Kakkad Member
Mr. Deepak Anurag Member
Order under Section 31(1) of the Competition Act, 2002
- On 06th December 2023, the Competition Commission of India ( Commission ) received a notice under sub-section (2) of Section 6 of the Competition Act, 2002 ( Act ) filed by Punjab State Power Corporation Ltd ( PSPCL/Acquirer ) for the proposed acquisition of GVK Power (Goindwal Sahib) Limited ( GVK/Target ) [Hereinafter, the Acquirer and Target are collectively referred to as ‘ Parties ’]. The notice has been filed pursuant to the Resolution Plan dated 28th June, 2023 submitted by the Acquirer to the Resolution Professional in relation to the CIRP of the Target.
Issues for consideration
2 issues framed by the court
Whether the proposed acquisition of GVK Power by PSPCL is likely to cause an appreciable adverse effect on competition in India.
How the Commission should assess horizontal and vertical overlaps in the power generation and transmission markets.
Parties & counsel
- applicant
Punjab State Power Corporation Ltd.
- other
GVK Power (Goindwal Sahib) Limited
Coram
Anil Agrawal
Case details
As recorded by the court registry
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