India moving from Healthcare Follower to Global Leader in Precision Medicine and Biomanufacturing: MoS (See 'Corp Brief') SECL's Vigilance-led Initiative 'Prayas' Ensures Timely PF & Pension Settlement (See 'Corp Brief') Agrinnovate India presents Rs.3.4 Crore dividend to Chouhan (See 'Corp Brief') 6 Railway Stations in West Bengal redeveloped under Amrit Bharat Station Scheme (See 'Corp Brief') NHAI receives warm response from Bidders for Construction of Kaliabor to Numaligarh Section of NH (See 'Corp Brief') MSDE signs MoU with GATI Foundation to Strengthen Global Skill Mobility (See 'Corp Brief') DFS Secy meets NBFCs to discuss targeted points pertaining to the sector (See 'Corp Brief') 41% of India's Scientists are Women: Chouhan Highlights women Agri-Power (See 'Corp Brief') Companies Act - Technical provisions of Companies Act cannot be relied on to evade compliance with a Court decree prohibiting the judgment debtor from transferring the shares to any third party: HC (See 'Legal Desk') IBA hosts RRB Conclave 2026 on 'Next-Gen Reforms for RRBs' (See 'Corp Brief') MoEFCC organizes Workshop to address Challenge of Elephant-train Collisions (See 'Corp Brief') Govt, Civil Society & Tech leaders unite to build Model for Persons with Hearing Impairment (See 'Corp Brief') PMLA - Appearance of Appellant, ordinarily operating in Mumbai, before SAFEMA Appellate Tribunal at Delhi, does not confer territorial jurisdiction to the Delhi High Court over Appellant: HC (See 'Legal Desk') NHAI gets warm response from Bidders for Four-Laning of Dhamasiya-Bitada in Gujarat (See 'Corp Brief') Metro in India a 'Silent Revolution' transforming Urban Mobility and Society (See 'Corp Brief') CCI approves acquisition by Cube V of road asset business of DYIPL, DVIPL, DGIPL and DTEHPL (See 'Corp Brief') CCI approves acquisition of stake in Curefit Healthcare by MacRitchie Investments (See 'Corp Brief') IBC - Once Resolution Plan is approved by NCLT u/s 31 of IBC, it becomes binding on all stakeholders, and all claims not provided for in plan stand extinguished: HC (See 'Legal Desk') Country ready for any Unprecedented Demand for Coal: Govt (See 'Corp Brief') DPIIT signs MoU with Voltas Limited to support Industry-Start-up Collaboration for Smart Appliance Technologies (See 'Corp Brief') New Delhi Frontier AI Impact Commitments were Signed by 13 Leading Model Providers (See 'Corp Brief') APEDA showcases Agri and Processed Food Export Strength at AAHAR 2026 (See 'Corp Brief') IPR - Party seeking cancellation of registered trademark on grounds of similarity and prior rights must first establish its own prior and continuous use of its mark as trademark: HC (See 'Legal Desk') Capacity Building Commission hosts workshop on sustainable financing & resource mobilisation (See 'Corp Brief') Govt boosts Credit Flow to Agriculture Sector through targeted Policy Measures (See 'Corp Brief') IBC - Application of Discount for Lack of Marketability is permissible valuation methodology under Indian Accounting Standards for determining fair value of unlisted, illiquid shares in context of capital reduction: SC (See 'Legal Desk') IICA holds 4th Batch of Directors' Certification for Defence Officers (See 'Corp Brief') Financial inclusion campaign was held in 2.7 lakh Gram Panchayats and ULBs (See 'Corp Brief') A&C - Award can be set aside only on specific grounds such as being contrary to fundamental policy of Indian law, violating basic notions of morality or justice, or suffering from patent illegality that goes to root of matter: HC (See 'Legal Desk') ICANN85 in Mumbai highlights Collaboration for resilient Internet (See 'Corp Brief') Minister chairs 35th Meeting of Standing Committee of Voluntary Agencies (See 'Corp Brief') A&C - amendment to petition filed u/s 34 of Arbitration Act, cannot be permitted under Order VI Rule 17 of CPC if its effect is to introduce challenge to distinct part of arbitral award: HC (See 'Legal Desk') NITI Aayog convenes Regional Best Practices Seminar (See 'Corp Brief') FTAs opening New Opportunities for Pharma, Healthcare and MedTech Sectors: Goyal (See 'Corp Brief') MSME Ministry promotes Energy Efficiency and Green Practices in MSME Sector (See 'Corp Brief') Transforming Mined Landscapes: NLC India's Journey in Sustainable Mine Restoration (See 'Corp Brief') IEPFA-NCAER jointly organise Investor Education and Protection Workshop (See 'Corp Brief') IPR - Proprietorship of trademark, as general rule, vests in manufacturer who affixes mark on product, not in importer or distributor of those goods: HC (See 'Legal Desk') Chouhan holds post-Budget discussion with coconut farmers in Chennai (See 'Corp Brief') IBC - Creditor cannot be forced to elect its remedy or apportion its claim between principal debtor and guarantor: SC (See 'Legal Desk') IBC - Judicial review by NCLT & NCLAT does not extend commercial wisdom of Committee of Creditors in evaluating and approving resolution plan: SC (See 'Legal Desk') A&C - Pre-award and post-award interest operate in distinct fields and contractual bar applicable to former cannot, by implication, be extended to latter: SC (See 'Legal Desk') MoS interacts with beneficiaries of desalination plant in Kavaratti (See 'Corp Brief') A&C - Court will not grant specific performance of contractual obligation that is contingent upon discretionary approval of third-party government authority: HC (See 'Legal Desk') A&C - Contractual clause that expressly and widely bars payment of interest on ‘any moneys due to contractor' prohibits arbitral tribunal from awarding pre-reference and pendente lite interest on all claims: HC (See 'Legal Desk') Supreme Court Clears Path For Single Insolvency Proceedings Against Linked Group Companies (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.