India Showcases Climate Progress at WTO Environment Week (See 'Corp Brief') World Environment Day 2026 launches SOP of Solid Waste Management Rules, 2026 (See 'Corp Brief') Sovereign guarantee extended to ship owners; insurance made affordable for maritime trade (See 'Corp Brief') CM, Union ministers open 18 'Namo Oxygen Parks' to boost green cover (See 'Corp Brief') Government expands specified securities under FAR to include new issuances in Sovereign Green Bonds (See 'Corp Brief') Yogasana Championship 2026, Sports Capital, Ahmedabad (See 'Corp Brief') Govt announces ANRF portal for training in patent filing (See 'Corp Brief') Government Targets 75 Lakh Rooftop Solar Households by End-2026 (See 'Corp Brief') IBC - Admission of claim by IRP/RP during CIRP does not amount to acknowledgment of liability u/s 18 of Limitation Act: SC (See 'Legal Desk') Millet Functional Foods Make Sea Export Debut (See 'Corp Brief') India-UK critical minerals Global Supply Chain observatory launched (See 'Corp Brief') West Bengal set to become eastern India's Maritime Hub with Rs 19,209 crore investment plan (See 'Corp Brief') IBC - Disputes raised by Corporate Debtor, including MSME-related objections, alleged irregularity in NPA classification, pending arbitration, do not defeat admission once debt and default are established: NCLT (See 'Legal Desk') CCI Clears DAE's Acquisition of Macquarie AirFinance (See 'Corp Brief') CCI okays UPL group's crop protection businesses reorganisation (See 'Corp Brief') IBC - By virtue of Section 238, IBC overrides Electricity Act, 2003 and allied state electricity recovery laws to extent of inconsistency: HC (See 'Legal Desk') India, South Africa Deepen Ties in AI and Future Technologies (See 'Corp Brief') India-Oman Comprehensive Economic Partnership Agreement (See 'Corp Brief') NPCI International, ACLEDA Bank launch cross-border UPI payments in Cambodia (See 'Corp Brief') IBC - An application u/s 9 not maintainable when operational debt & its basis are doubtful & unsupported by cogent evidence: NCLT (See 'Legal Desk') Centre-States partnership advances reforms for sustainable rural water delivery (See 'Corp Brief') Embrace AI and Emerging Technologies, but Keep Compassion: Nadda (See 'Corp Brief') Governor of Telangana interacts with Meghalaya student delegation (See 'Corp Brief') Digital India BHASHINI, Current AI & Kalpa Impact launch VYOMA Innovation Challenge (See 'Corp Brief') Companies Act - Auditor's remark stating that company has an internal audit system which needs to be strengthened, does not amount to 'qualification', and failure to furnish explanation on such remark does not attract penal liability: HC (See 'Legal Desk') Chouhan launches 'Khet Bachao Abhiyan' from Raisen, MP (See 'Corp Brief') PMLA - Special Courts under PMLA cannot take cognizance of prosecution complaint without first giving accused opportunity of hearing, as mandated under first proviso to Sec 223(1) of BNSS: SC (See 'Legal Desk') Gadkari reviews quality of NH Projects in West Bengal and AP (See 'Corp Brief') Digital India BHASHINI & DPIIT sign MoU for Multilingual Access Across India's Investment Ecosystem (See 'Corp Brief') NI Act - After adoption of electronic clearance system, cheque return memo or bank endorsement need not bear seal or signature to be acted upon under Sections 138 and 146: HC (See 'Legal Desk') National Workshop on R&D in Water to drive Bharat's Next Wave of Water Innovation (See 'Corp Brief') PM SVANidhi completes Six Years of Empowering Street Vendors (See 'Corp Brief') DCA reviews implementation of Legal Metrology Reforms in N-E and UTs (See 'Corp Brief') Raksha Mantri & UP Chief Minister inaugurate 'Nausena Shaurya Vatika' in Lucknow (See 'Corp Brief') IBC - Offences u/s 68 and 235A of Code can be prosecuted only before competent Special Court in manner prescribed u/s 236 of Code: NCLT (See 'Legal Desk') A Highway bringing New Possibilities to Heart of Central India: Boregaon to Shahpur (See 'Corp Brief') National Biodiversity Authority realises Rs. 21.26 Crore through Benefit Sharing Mechanism (See 'Corp Brief') Ayushman Bharat Digital Mission crosses Landmark Milestone of 90 Crore ABHA Accounts (See 'Corp Brief') SEBI - Assessee's request for inspection of documents cannot be allowed where these form part of SEBI's internal administrative process & are not necessary for replying to SCN: SAT (See 'Legal Desk') Moratorium under the IBC (See CORP EINSICHT)

Print

CCI approves restructuring of existing business of Re Sustainability Limited

Published: Aug 08, 2024

By TIOLCorplaws News Service

NEW DELHI, AUG 08, 2024: THE Competition Commission of India (CCI) has approved restructuring of the existing business of Re Sustainability Limited (ReSL), its subsidiaries, and joint ventures through demerger of the municipal solid waste (MSW) business and waste to energy (WTE) business (Demerged Businesses) to Ramky Sustainability Solutions Private Limited (RSSPL), a newly incorporated entity.

The Parties to the proposed combination are (a) ReSL; (b) Mumbai Waste Management Limited (MWML); (c) RSSPL; (d) Metropolis Investment Holdings Pte. Ltd. (Metropolis); (e) Mr. A. Ishaan (Ishaan), Mr. A. Ayodhya Rami Reddy, RK Ventures, Mrs. A. Veeraraghavamma and Mr. A. Sharan (collectively referred to as "Founding Group").

Post the proposed combination, the fully diluted shareholding of RSSPL will mirror ReSL's existing shareholding pattern in terms of the shareholding of Metropolis and the Founding Group, respectively. The Founding Group will cede certain rights in the retained businesses of ReSL (Retained Businesses) and Metropolis will cede certain rights in the Demerged Businesses housed under RSSPL.

ReSL : ReSL is in the business of industrial waste management, municipal solid waste management, bio-medical waste management, operation of waste to energy plants, recycling, and other related environmental services in India.

MWML : MWML is a wholly owned subsidiary of ReSL. It will amalgamate into ReSL and cease to exist as an independent entity. It is engaged in the industrial waste management and the biomedical waste management business in India.

RSSPL: RSSPL is a newly incorporated company and currently does not have any business activities in India. However, post the proposed combination, RSSPL will comprise the Demerged Businesses and its shareholding will mirror the shareholding of ReSL.

Metropolis: Metropolis is an investment company incorporated under the laws of Singapore and has been registered as a Foreign Venture Capital Investor under the SEBI (Foreign Venture Capital Investor) Regulations, 2000. Metropolis is indirectly wholly owned by investment funds, vehicles, and/or accounts advised and managed by various subsidiaries of KKR & Co. Inc. (KKR & Co . and together with its subsidiaries, "KKR"). KKR is a global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR sponsors investment funds that invest in private equity, credit, and real assets and has strategic partners that manage hedge funds.

Founding Group: The members of the Founding Group comprise individual family members and RK Ventures. The members hold shares in ReSL and are part of the Ramky group which is engaged in activities in India such as waste management (through ReSL), development of infrastructure and real estate, and pharmaceuticals.

TIOL CORP SEARCH

TIOL GROUP WEBSITES

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