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TMI Blog2015 (4) TMI 271X X X X Extracts X X X X X X X X Extracts X X X X ..... ub-section (4) of Section 20 of the Act, the Commission is of the opinion that the proposed combination is not likely to have appreciable adverse effect on competition in India and therefore, the Commission hereby approves the proposed combination under sub-section (1) of Section 31 of the Act. - Acquisition approved. - COMBINATION REGISTRATION NO. C-2014/03/160 - - - Dated:- 1-5-2014 - ASHOK CHAWLA, M.L. TAYAL AND AUGUSTINE PETER, JJ. ORDER UNDER SECTION 31(1) OF THE COMPETITION ACT, 2002 1. On 26th March, 2014, the Competition Commission of India (hereinafter referred to as the Commission ) received a notice under sub-section (2) of Section 6 of the Competition Act, 2002 (hereinafter referred to as the Act ) given by TAQA In ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 5, is a wholly owned subsidiary of Public Sector Pension Investment Board ( PSPIB ), a Canadian Crown Corporation which acts as an investment manager for amounts transferred to it by the Government of Canada for certain pension funds. Indo-Infra is stated to be incorporated for the purpose of the proposed combination and presently does not manufacture any goods or provide any services. 4. IIF-II, a Category-I Alternative Investment Fund, registered in India under the provisions of the Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012 ( AIF Regulations ), is stated to be established with the purpose of raising capital for making portfolio investments in infrastructure projects. IDFC Alternatives Limit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the Target Projects to the Target SPVs, the Acquirers would purchase the entire subscribed and paid up capital of each of the Target SPVs from JPVL, such that TAQA India, Indo-Infra and IIF-II would hold 51 percent, 39 percent and 10 percent stake respectively in each of the Target SPVs. 8. The proposed combination falls under Section 5(a) of the Act. 9. It is observed that as the Acquirers have only a small presence in power generation in India, the proposed acquisition of the Target SPVs by the Acquirers, is not likely to have any appreciable adverse effect on competition in India. 10. Considering the facts on record and the details provided in the notice given under sub-section (2) of Section 6 of the Act and the assessment of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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