J. Sagar Associates (JSA) advised and represented The Tata Power Company Limited (TPCL) in three separate filings before the Competition Commission of India (CCI) seeking approval for its acquisition of 51% of the equity share capital of 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 in 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.