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.
Correct answer
Explanation
The correct answer is Adani Energy Solutions Limited. 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. The buyer is part of the Adani Group, is incorporated in India and is listed on BSE Limited as well as the National Stock Exchange of India Limited, and its own business is the transmission and distribution of electricity along with metering work. Option A, Aditya Birla Renewables Limited, is wrong because its approval in the same set of orders was for Solenergi Power Private Limited, not for IntelliSmart. Option C, Energy Efficiency Services Limited, is wrong because EESL is on the selling side of this deal, named as Seller 2, along with the National Investment and Infrastructure Fund as Seller 1. Option D, Shell Overseas Investment B.V., is wrong because that firm is the seller in the Solenergi Power transaction and has no part in the IntelliSmart deal.
Read the full article: CCI Clears Power Sector Buyouts by Adani and Aditya Birla
Practice Questions
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
Show answer
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.
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
Show answer
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
Show answer
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
Show answer
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
Show answer
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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