Adani Power Limited
Case brief
What is this about?
The Competition Commission of India assessed a proposed combination where Adani Power Limited acquired Lanco Amarkantak Power Limited under a resolution plan. Finding the combined market share insignificant and no adverse effect on competition dynamics in power generation, transmission, or distribution, the Commission approved the combination.
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-2024/02/1113
26th March 2024
Notice under Section 6(2) of the Competition Act, 2002 given by Adani Power Limited
CORAM:
Ms. Ravneet Kaur Chairperson Mr. Anil Agrawal Member Ms. Sweta Kakkad Member Mr. Deepak Anurag Member
Order under Section 31(1) of the Competition Act, 2002
- On 19th February 2024, the Competition Commission of India ( ‘Commission’ ) received a Notice under Section 6(2) of the Competition Act, 2002 ( ‘Act’ ) given by Adani Power Limited ( ‘Acquirer’/ ‘Adani Power’ ). The Notice was filed pursuant to the Resolution Plan dated 11th August 2022 (as amended on 1st November, 2022) for Lanco Amarkantak Power Limited ( ‘Lanco’ / ‘Target’ ) read with amended and restated Addendum dated 15th February 2024 (‘ Resolution Plan’ ) and the Board resolution of the Acquirer in relation to the Proposed Combination.
- The Proposed Combination envisages an acquisition of 100% share capital and control of the Target by the Acquirer pursuant to the Resolution Plan submitted by the Acquirer in the corporate insolvency resolution process (‘ CIRP’ ) initiated under the Insolvency and Bankruptcy Code, 2016 (‘ IBC’ ) in respect of the Target, being the Corporate Debtor under the CIRP.
Issues for consideration
2 issues framed by the court
Whether the proposed acquisition of 100% share capital of Lanco Amarkantak Power Limited by Adani Power Limited under a resolution plan is likely to cause an appreciable adverse effect on competition
Whether the extent of market overlap and potential vertical linkages between the acquirer group and the target justify approval of the combination
Parties & counsel
- applicant
Competition Commission of India
- other
Adani Power Limited
Coram
Ravneet Kaur
Case details
As recorded by the court registry
- Court
- CCI
- Decided on
- · March
- Case no.
- C-2024/02/1113
- Topic
- Consumer Protection
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