JSA represents Tata Power in acquisition of Odisha power supply firms
JSA represents Tata Power in acquisition of Odisha power supply firms Tata Power Company Limited seeks CCI's approval to acquire a majority stake in three power supply companies of Odisha Leading Indian law firm J. Sagar Associates (JSA) has advised and represented the Tata Power Company Limited (TPCL) in the latter's bid to acquire majority stakes in three power supply companies of...
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JSA represents Tata Power in acquisition of Odisha power supply firms
Tata Power Company Limited seeks CCI's approval to acquire a majority stake in three power supply companies of Odisha
Leading Indian law firm J. Sagar Associates (JSA) has advised and represented the Tata Power Company Limited (TPCL) in the latter's bid to acquire majority stakes in three power supply companies of the eastern state Odisha.
JSA represented TPCL before the Competition Commission of India (CCI) through three separate filings, seeking the regulator's approval for its acquisition of 51 per cent equity share capital of the three Odisha firms – Western Electricity Supply Company of Orissa Limited (WESCO), Southern Electricity Supply Utility of Odisha Limited (SOUTHCO) and Central Electricity Supply Utility of Orissa Limited (CESU).
TPCL, a public listed company, is a part of the Tata Group and is primarily engaged in the business of power generation, transmission and distribution across India. WESCO, SOUTHCO and CESU are three of the four power distribution companies in the State of Odisha.
The acquisitions were made pursuant to a bidding process initiated by the Odisha Electricity Regulatory Commission under Sections 20 and 21 of the Electricity Act, 2003 (Electricity Act). This is the first transaction under Section 21 of the Electricity Act that the CCI has considered and approved.
JSA team comprised Lead Partner Farhad Sorabjee, Partner Vaibhav Choukse, Principal Associate Ela Bali and Associate Aditi Khanna. Lead Partner Anupam Varma and Partner Rahul Kinra advised on the Electricity law aspects.
