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Torrent Power exempted from gun-jumping penalty by Indian watchdog

By Freny Patel ( January 22, 2025, 01:10 GMT | Insight) -- Torrent Power avoided penalties for gun-jumping in failing to notify the Indian antitrust watchdog prior to its acquisition of a significant shareholding in Dadra and Nagar Haveli and Daman and Diu Power Distribution Corporation. The Competition Commission of India decided not to impose any penalty, having accepted Torrent Power's arguments over the complexities in the bidding process and confusion over regulatory overlaps. It also acknowledged that the transaction had caused no harm to competition. Torrent Power escaped being penalized for gun-jumping despite failing to notify the Indian antitrust watchdog of a significant acquisition prior to its completion....

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