Greenko Energies Private Limited
Case brief
What is this about?
The Competition Commission of India approved the SPICL Transaction under Section 31(1) of the Competition Act, 2002. The Commission found that the acquisition of additional equity shares in Sikkim Urja by Greenko Energy would not likely result in an appreciable adverse effect on competition in India due to the project's non-operational status and limited impact on market dynamics.
What did the court decide?
The SPICL Transaction is approved under Section 31(1) of the Act. The order stands revoked if the information provided by the Acquirer is found to be incorrect.
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-2024/04/1131
7th May 2024
Notice under Section 6(2) of the Competition Act, 2002 given by Greenko Energies Private 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 5th April 2024, the Competition Commission of India ( Commission ) received a notice under Section 6(2) of the Competition Act, 2002 ( Act ), given by Greenko Energies Private Limited ( Acquirer / Greenko Energy ).
- Greenko Energy Holdings ( GEH), which is the holding company and ultimate parent entity of Greenko group of companies ( Greenko Group ), indirectly holds 34.3% equity stake on a fully diluted basis in Sikkim Urja Limited ( Sikkim Urja ) along with certain associated rights in Sikkim Urja and Sikkim Power Transmission Limited ( SPTL ) (formerly Teestavalley Power Transmission Limited). The notice relates to the proposed
Issues for consideration
3 issues framed by the court
Whether the proposed acquisition of 60.08% equity stake in Sikkim Urja Limited by Greenko Energy would have an appreciable adverse effect on competition in India.
Whether the proposed combination requires approval under Section 31(1) of the Competition Act, 2002.
Whether the change in control from joint control to sole control by Greenko Energy would significantly affect competition dynamics in the power generation sector.
Parties & counsel
- petitioner
Competition Commission of India
- respondent
Greenko Energies Private Limited
Coram
Ravneet Kaur
Case details
As recorded by the court registry
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