The Indian Competition Authority fines a renewable energy firm for gun-jumping (Adani Green / SB Energy)

Adani Greens Energy Limited (“Adani Green/Acquirer”) was served with a show cause notice (“SCN”) on 14 August 2021 in relation to its acquisition of S.B. Energy Holding Limited (“S.B. Energy/Target”) (“Combination”). The notice for the Combination was filed on 18 May 2021, pursuant to the execution of Share Purchase Agreements by and between Adani Green and Softbank Group Capital Limited (“Softbank SPA”) and between Adani Green and Bharti Global Limited. The said combination was approved by the CCI on 30 June 2021. During the review of the