Coal India advances Technology-led Diversification Across Energy & Minerals (See 'Corp Brief') Digital India RISC-V Grand Challenge under C2S Programme awarded to 3 teams (See 'Corp Brief') IBC - Arrangement of funds to enable corporate debtor to clear its liabilities, coupled with transfer of funds from cooperative bank loan account of applicant directly to bank, is not valid loan disbursement under IBC: NCLT (See 'Legal Desk') Vaishnaw highlights ISM 2.0, indigenous design, manufacturing, talent and India's emergence (See 'Corp Brief') SEBI - SEBI, acting as statutory market regulator, is duty-bound to issue a reasoned, speaking order when a decision carries serious civil consequences for acquirer, target company & investors: SAT (See 'Legal Desk') An unsuccessful 'success fee' litigation (See CORP EINSICHT) Centre commemorates World Patient Safety Day 2026 at NIHFW (See 'Corp Brief') BIMSTEC Energy Centre organises 5-Day Capacity Building Programme (See 'Corp Brief') Scindia inaugurates Renovated Guna Head Post Office in MP (See 'Corp Brief') SEBI - Where material on record discloses need for deeper scrutiny, re-appreciation, review or reconsideration of evidence, leave ought to be granted & the appeal should thereafter be decided on merits: HC (See 'Legal Desk') CCI nod for acquisition of equity of Great White Global by ISAF III Onshore Fund (See 'Corp Brief') From Ink and Ledger to Cloud and Cipher: The Bankers' Books Evidence Act, 2026 - A Critical Appraisal of India's Digital Evidentiary Revolution (See CORP EINSICHT) A&C Act - Question whether particular claim is covered by, or falls outside excepted matters clause of works contract is matter squarely within competence of Arbitral Tribunal u/s 16 of Arbitration and Conciliation Act: SC (See 'Legal Desk') CCI approves acquisition of addl share in Azure Power Global by OMERS Infra (See 'Corp Brief') Beneficiaries express confidence in government policies for e-mobility (See 'Corp Brief') Competition Act - Regulatory decisions taken in exercise of statutory powers not subject to review by CCI; authority concerned is not amenable to scrutiny u/s 4 of Competition Act: CCI (See 'Legal Desk') Semicon 2.0 mission to focus semiconductor design & fabrication; to create 1 lakh jobs (See 'Corp Brief') NLMC to host investor meets ahead of RINL land e-auction (See 'Corp Brief') SEBI - Penalty order under SEBI (PFUTP) Regulations unsustainable where foundational findings regarding volume of manually deleted orders & manipulative intent are perverse & contrary to the record: SAT (See 'Legal Desk') Govt reviews Use of Steel from Ship Recycling to Boost Steel Manufacturing (See 'Corp Brief') Inaugural PDUNASS–GNLU Executive Program on Labour Law concludes at Gandhinagar (See 'Corp Brief') Capital Market - Release of escrow amount maintained for buyback does not bar separate inquiry into alleged fraud under PFUTP Regulations: SC (See 'Legal Desk')

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