TRAI releases Consultation Paper on 'Proliferation of Public Wi-Fi Networks in India' (See 'Corp Brief') DoP and DTDC sign MoU to strengthen Logistics and E-Commerce in India (See 'Corp Brief') Trade Mark - Defendants' conduct of running a coordinated fraudulent recruitment scheme, impersonating the plaintiffs & extracting money from each candidate, is deliberate exploitation of plaintiffs' goodwill & causes reputational harm: HC (See 'Legal Desk') PDUNASS-Gujarat NLU launch Programme on Labour Law and Social Security Compliance (See 'Corp Brief') Shivraj to launch PMGSY-IV Batch-II in Srinagar (See 'Corp Brief') India emphasises Inclusive and Ecosystem Based Governance of Small Scale Fisheries (See 'Corp Brief') SAFEMA - Certain transaction falls within ambit of benami transaction where appellants failed to produce supporting material, despite opportunity, to establish legitimate source of funds either in hands of lender or alleged contributors: SAFEMA TRIBUNAL (See 'Legal Desk') Diaspora vital connectors between India and global innovation ecosystems: MoS (See 'Corp Brief') Srinagar Khel Sankalp affirms unified commitment to athlete-centric sports ecosystem (See 'Corp Brief') IBC - If corporate debtor is solvent & functioning company, then insolvency process invoked only to secure payment of individual dues by initiation of CIRP, amounts to misuse of IBC as recovery mechanism: SC (See 'Legal Desk') Reining in Misuse of IBC for Recovery (See CORP EINSICHT) SAMAVESH Portal, NMBA 2.0, SETU and SMILE Beggary Apps Launched at Chandigarh Shivir (See 'Corp Brief') PMLA - Attachment of a residential property upheld where Act itself permits attachment not only of property directly acquired from proceeds of crime, but also of untainted property representing equivalent value where actual proceeds of crime are unavailable or untraceable: HC (See 'Legal Desk') Veep urges Youth to become Job Creators and Nation-Builders (See 'Corp Brief') CCIC launches 'Soul Threads' - A Heritage Designer Collection Celebrating Artisanal Legacy (See 'Corp Brief') IBC - If statutory authority, during subsistence of moratorium u/s 14, directs bank to place lien on bank accounts of Corporate Debtor, and bank acts on same, it would amount to execution against Corporate Debtor and is barred by Sec 14: NCLT (See 'Legal Desk')

Print

CCI okays sale of 34% equity of Ashoka Concessions to Ashoka Buildcon

Published: Jan 15, 2025

By TIOLCorplaws News Service

NEW DELHI, JAN 15, 2025: THE Competition Commission of India has approved the proposed acquisition of 34% equity shareholding of Ashoka Concessions (ACL) by Ashoka Buildcon (ABL) and certain convertible instruments of ACL by ABL and Viva Highways (Viva); and 26% shareholding of Jaora Nayagaon Toll Road Company (JN) by Viva

The proposed combination envisages the acquisition of 34% equity shareholding of ACL by ABL and certain convertible instruments of ACL by ABL and Viva, and 26% shareholding of JN by Viva.

ABL (including its affiliates) is primarily engaged in engineering, procurement and construction (EPC) in various sectors and operation and maintenance (O&M) of roads and highways. ABL operates its road assets through various models i.e., EPC, Build Operate and Transfer (BOT) and Hybrid Annuity Model (HAM) models.

ACL, the infrastructure arm of the Ashoka Group, is active in operation and maintenance of roads and highways in India through its various subsidiaries, which operate road assets. It was floated by ABL for bringing the various BOT based road and highway projects under one umbrella.

JN, a BOT concessionaire, has been granted concession by the Madhya Pradesh Road Development Corporation for reconstruction, strengthening, widening, and rehabilitation of 125 Km to 250 Km of State Highway (SH)-31 in the state of Madhya Pradesh.

TIOL CORP SEARCH

TIOL GROUP WEBSITES

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