CCI approves acquisition of 100% share capital of GVK Energy by Adani Power
New Delhi: Competition Commission of India (CCI) approved the CCI approves acquisition proposal involving GVK Energy Limited. It cleared the acquisition of 100% share capital and control of the company by Adani Power Limited. The decision followed a review under competition law provisions.
The transaction forms part of the corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016. Moreover, the approval allows Adani Power to acquire full ownership of the target company. The detailed order will follow from the Commission.
Adani Power Limited is a listed public company in India. It operates thermal power plants across several states, including Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh, Madhya Pradesh, Jharkhand and Tamil Nadu. In addition, it runs a 40 MW solar power plant in Gujarat.
GVK Energy Limited was established as a subsidiary of GVK Power and Infrastructure Ltd. Through its subsidiary AHPL, it generates power from a 330 MW hydroelectric project in Srinagar, Uttarakhand. Furthermore, it provides operation and maintenance services to the project.
CCI approves acquisition under insolvency framework
The CCI approves acquisition decision confirms the transfer of complete shareholding under the insolvency resolution mechanism. Therefore, the acquisition proceeds as per the approved corporate process. The Commission examined the proposed combination before granting clearance.
The approval marks a regulatory step in the restructuring of the power asset. Consequently, the transaction now moves forward under the insolvency framework. Officials stated that the final detailed order will be issued separately.
The decision reflects the Commission’s role in reviewing combinations that involve significant control changes. Meanwhile, the process ensures compliance with competition regulations. The acquisition now awaits further procedural completion under the resolution plan.
