Department of Youth Affairs to host BRICS Youth Council Meeting (See 'Corp Brief') IBC - Only crystallised claims as on effective date are payable on pro-rata basis from designated Operational Creditors Settlement Amount: SC (See 'Legal Desk') RDDBFI - Borrowers cannot cherry-pick figures from bank certificates while ignoring standard accounting treatment of interest after NPA classification: SC (See 'Legal Desk') IPR - Holding subsequent trademark registration does not override prior court injunction protecting visual get-up: HC (See 'Legal Desk') PSB Confluence 2026 - deposit mobilisation, banking for youth & investment cycles on agenda (See 'Corp Brief') A&C - Continuation of arbitration proceedings against some guarantors while statutory interim moratorium u/s 96 of IBC is in effect regarding 'debt' violates fundamental policy of Indian law: HC (See 'Legal Desk') IBC - Rights issue that does not comply with the mandatory timing and procedural requirements under company law, and which reduces majority shareholders into minority and transfers control, constitutes oppression: NCLT (See 'Legal Desk') DFS highlights mechanism for Timely Redressal of Insurance Policyholders' Grievances (See 'Corp Brief') CCRAS-NIIMH signs MoU with Sevadhi Museum and Indological Research Institute for Digitization (See 'Corp Brief') IBC - Second proviso to Rule 30(9) of Companies (Incorporation) Rules, 2014, acts as mandatory statutory bar, which prevents Regional Director from allowing shifting of registered office while appeal against resolution plan is pending: HC (See 'Legal Desk') Over 2 Lakh Villages, Now 'Har Ghar Jal' Certified (See 'Corp Brief') Companies Act - Assets of a company belong to the entity and its creditors, not its shareholders; transfer of company assets seemingly to place them beyond creditors' reach is impermissible: HC (See 'Legal Desk') MSDE convenes India-Japan Stakeholder Consultation to strengthen skilling (See 'Corp Brief') Competition law - Dealership termination, even if commercially harsh, does not by itself become competition law violation unless there is material showing an anti-competitive agreement causing dominance and abuse: CCI (See 'Legal Desk') Naidu flags off Tiranga Rally under Har Ghar Tiranga Campaign 2026 (See 'Corp Brief') IBC - EPC contract cannot be said to be frustrated by efflux of time merely because works have been suspended due to non-payment: SC (See 'Legal Desk') Capital Market - Trading while in possession of Unpublished Price Sensitive Information automatically triggers insider trading liability: SC (See 'Legal Desk') States recognised for Strong Performance in Anemia Mukt Bharat Abhiyaan (See 'Corp Brief') Misc - Winding-up proceeding and civil suit for recovery of money are distinct and independent remedies, and initiation of one does not impact limitation for other: SC (See 'Legal Desk') Patents - Invoking common general knowledge as basis for rejecting patent application without identifying & substantiating source of such knowledge is impermissible in a quasi-judicial order u/s 15 of the Act: HC (See 'Legal Desk') Gaj Gaurav Awards 2026 conferred for Exemplary Contributions to Elephant Conservation (See 'Corp Brief') IPR - In infringement action u/s 29(2)(b) of Trade Marks Act, where marks are similar but not identical, burden lies strictly on plaintiff to establish that similarity is likely to cause confusion: HC (See 'Legal Desk') Competition - Business model of online food delivery inherently differs from direct restaurant sales - price differential between two does not per se establish abusive conduct per the Competition Act: CCI (See 'Legal Desk') Tete-a-tete around AI in banking sector often begins with algorithms (See CORP EINSICHT)

Print

CCI okays acquisition of ONGC Tripura Power by GAIL

Published: Sep 10, 2021

By TIOLCorplaws News Service

NEW DELHI, SEPT 10, 2021: THE Competition Commission of India (CCI) has approved acquisition of ONGC Tripura Power Company Limited (Target) by GAIL (India) Limited (Acquirer) under Section 31(1) of the Competition Act, 2002

The proposed combination relates to the acquisition of 26% equity share capital of the Target by the Acquirer from IL&FS group entities. The proposed combination falls under Section 5(a) of the Competition Act, 2002.

Acquirer

The Acquirer was incorporated in August 1984 as a Central Public Sector Undertaking (PSU) under the Ministry of Petroleum & Natural Gas (MoPNG). Acquirer is a listed public sector company with diversified interests across the natural gas value chain of trading, transmission, LPG production & transmission, LNG re-gasification, petrochemicals, city gas, E&P, and certain small renewable energy projects in Rajasthan, Gujarat, Karnataka and Tamilnadu.

Target

The Target is a special purpose vehicle between Oil and Natural Gas Corporation, IL&FS Group and Government of Tripura (GoT) formed by entering into a Shareholders' Agreement (SHA) on September 18, 2008 to implement a 726.6 MW Combined Cycle Gas Turbine (CCGT) thermal power plant at Palatana, Tripura.

The Target is a public limited company, incorporated under the laws of India. It is engaged in the business of generation and supply of electricity, through the abovementioned power plant supplying power in the region of North-East India. The Target holds 26% stake in North East Transmission Company Limited, which is engaged in transmission of electricity.

TIOL CORP SEARCH

TIOL GROUP WEBSITES

taxindiaonline
taxindiainternational
tioltube
TKF
TIOLawards
A TIOL Website. Copyright © 2025 TIOLcorplaws.com All rights reserved.