2015 (4) TMI 271

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..... he Competition Commission of India (hereinafter referred to as the "Commission") received a notice under sub-section (2) of Section 6 of the Competition Act, 2002 (hereinafter referred to as the "Act") given by TAQA India Power Ventures Private Limited (hereinafter referred to as "TAQA India"), Indo-Infra Inc. (hereinafter referred to as "Indo-Infra") and India Infrastructure Fund - II (hereinafte .....

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..... ate power assets in India and provide ancillary services. As per the information provided in the notice, presently, TAQA Group, in addition to its controlling stake in TAQA Neyveli Power Company Private Ltd. (an Indian company that owns and operates a 250 MW power plant in Neyveli, Tamil Nadu), has five percent stake in Himachal Sorang Power Ltd., an Indian company developing a 100 MW Hydro-electr .....

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..... nvestments in infrastructure projects. IDFC Alternatives Limited is the investment manager of IIF-II. 5. JPVL, a listed company incorporated in India, is primarily engaged in the business of power generation in India. 6. In terms of Regulation 14 of the Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Regulations, 2011 (hereinafter ref .....

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..... ated in Himachal Pradesh [collectively (i) and (ii) referred to as the "Target Projects"]. It has been stated in the notice that JPVL would internally restructure its business and transfer the Target Projects into two newly incorporated companies (collectively referred to as "Target SPVs") through a court approved scheme of arrangement; and on transfer of the Target Projects to the Target SPVs, th .....

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..... f the Act, the Commission is of the opinion that the proposed combination is not likely to have appreciable adverse effect on competition in India and therefore, the Commission hereby approves the proposed combination under sub-section (1) of Section 31 of the Act. 11. This approval is without prejudice to any other legal/statutory obligations as applicable. 12. This order shall stand revoked if .....

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