From whom is Aditya Birla Renewables Limited acquiring 100% of the issued share capital of Solenergi Power Private Limited?
- A.National Investment and Infrastructure Fund
- B.Energy Efficiency Services Limited
- C.Shell Overseas Investment B.V.
- D.Adani Energy Solutions Limited
Correct answer
Explanation
The correct answer is Shell Overseas Investment B.V. The Competition Commission of India approved the sale by that firm of the whole issued share capital of Solenergi Power Private Limited to Aditya Birla Renewables Limited. Solenergi Power is registered in Mauritius, carries on no business of its own beyond holding investments, and is present in India through holding entities below it and through companies that generate electricity from solar and wind. The buyer, taken with its subsidiaries, generates power from solar and wind and also does captive engineering, procurement and construction work. Options A and B are wrong because the National Investment and Infrastructure Fund and Energy Efficiency Services Limited are the two sellers in the other transaction cleared on the same day, in which Adani Energy Solutions Limited buys IntelliSmart Infrastructure Private Limited. Option D is wrong for the same reason: Adani Energy Solutions is a buyer in that separate deal and is not selling anything here.
Read the full article: CCI Clears Power Sector Buyouts by Adani and Aditya Birla
Practice Questions
Which company received CCI approval to acquire 100% of the equity share capital of IntelliSmart Infrastructure Private Limited?
- A.Aditya Birla Renewables Limited
- B.Adani Energy Solutions Limited
- C.Energy Efficiency Services Limited
- D.Shell Overseas Investment B.V.
Show answer
The Competition Commission of India cleared its purchase of the entire equity share capital of IntelliSmart Infrastructure Private Limited, a company that works in advanced metering infrastructure for electricity and also puts up smart gas meters.
Read the full explanation →In which country is Solenergi Power Private Limited, the target of the Aditya Birla Renewables deal, registered?
- A.Mauritius
- B.Singapore
- C.Netherlands
- D.France
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Solenergi Power Private Limited is described as a holding company registered in Mauritius with no business of its own apart from holding investments, and its link with India runs through certain downstream holding entities and through firms that generate electricity from solar and wind energy.
Read the full explanation →Which of these is NOT among the stated aims of extending the cotton import duty exemption?
- A.Augmenting cotton availability for the domestic textile sector
- B.Supporting Micro, Small and Medium Enterprises
- C.Raising the minimum support price paid to cotton growers
- D.Promoting value addition across the textile and apparel chain
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The exemption is an import measure and has nothing to do with the price assured to farmers, although the government has said it remains conscious of farmers' interests while taking such steps.
Read the full explanation →By how long was the existing customs duty exemption on cotton imports extended?
- A.One month
- B.Two months
- C.Six months
- D.One year
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The exemption in force was available until the end of October, and the amendment carries it to the end of December, which adds exactly two months to the window.
Read the full explanation →Which department notified the extension of the customs duty exemption on cotton imports?
- A.Department of Revenue, Ministry of Finance
- B.Department of Commerce, Ministry of Commerce and Industry
- C.Department of Agriculture and Farmers Welfare
- D.Office of the Textile Commissioner, Ministry of Textiles
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Customs duty is a tax, so changes to it are notified by the revenue side of the Finance Ministry, in this case through a customs notification dated the end of October.
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