Companies & Sectors
CCI nod to Rs2,460 crore stake sale in Gujarat Gas to GSPC

Competition Commission of India said that it has approved the proposed sale of stake in BG Group firm Gujarat Gas, as it is not likely to have an appreciable adverse impact on competition scenario

New Delhi: Fair trade regulator CCI said it has approved sale of 65.12% stake in Gujarat Gas Company by GSPC Distribution Networks, as the deal is unlikely to have any adverse impact on competition in the natural gas distribution market, reports PTI.

 

GSPC Distribution Networks is a wholly-owned subsidiary of GSPC Gas Company (GGCL), jointly promoted by Gujarat State Petroleum Corporation (GSPC) and Gujarat State Petronet (GSPL).

 

In an order released, Competition Commission of India (CCI) said that it has approved the proposed sale of stake in BG Group firm Gujarat Gas, as it is not likely to have an appreciable adverse impact on competition scenario.

 

In October, 2011, BG Group had said it has reached an agreement to sell its majority stake in GGCL to GSPC Distribution Networks (GDNL) for over Rs2,460 crore.

 

CCI observed that “both GSPC Gas and GGCL, which are engaged in the distribution of natural gas in the state of Gujarat, operate in different geographical areas”.

 

“In view of the forgoing, the proposed combination is not likely to raise any adverse effect on competition in the market for the distribution of natural gas in the state of Gujarat,” it added.

 

GDNL’s holding company, GSPC Gas, is engaged in the business of distribution of natural gas in ten districts of Gujarat including Rajkot and Gandhinagar. The entities had approached the CCI for approval on 1 November 2012.

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Practice of paid news found in Gujarat polls: Katju

The fact-finding committee of the Election Commission submitted its report stating that the malpractice of paid news had taken place in both print and electronic media on a large-scale

Jabalpur: Press Council of India (PCI) chairman Justice Markanday Katju released a report on Gujarat polls which claimed that the malpractice of paid news was noticed on a large-scale in the recently held elections, reports PTI.

 

Releasing the report before the media here, Katju said that the team has found large-scale practice of paid news, both in the print and electronic media, in the recent Gujarat assembly elections.

 

The PCI chairman was here to take part in a lecture series organised by noted lawyer Vivek Tankha.

 

After the Election Commission received the reports of paid news during Himachal assembly polls, a fact-finding committee, led by Rajiv Ranjan, was constituted to keep a watch on the Gujarat elections.

 

The committee submitted its report stating that the malpractice of paid news had taken place in both print and electronic media on a large-scale, Katju said.

 

The report will be placed before the PCI committee. After taking a unanimous decision on the issue, recommendations to nullify election of candidates indulged in such practices will be made to the Election Commission, Katju said.

 

In a similar case in Uttar Pradesh, the EC has nullified an election of a legislator in that state, he added.

 

The PCI chairman also insisted on bringing electronic media under the ambit of Press Council besides pressing for self-regulation in the media.

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COMMENTS

Divyesh

4 years ago

ustice Katju is morally right and taking correct steps. I appreciate his actions on the right direction to control paid news. He properly referred the involvement of paid news by visual media in addition to print media which includes newspapers and magazines. Prompt actions are needed by Justice Katju to recommend EC in Gujarat to CANCEL elections of such candidates who won this Gujarat assembly election and recommend the next runner-up candidate as the winner. Certain Gujarati TV news channels have crossed all the limits of publishing paid news and puff-piecing of certain BJP leaders. PCI should ask the mass media who have published/broadcast paid news should accept it publicly in their medium and apologise with the same vigorous effort to the audience for misguiding and deceiving them. Let it be a commercial suicide for them. Majority of audiences are media innocent and have very little media literacy to comprehend gimmicks. Indian mass media is immature for self-regulation.

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