1. KEMPINC LLP   2. Rikhab Investments B.V.   3. Mr. Kuldeep Jain   4. Ms. Nidhi Jain   5. Mr. Pratap Jain · 28 Jul 2025

Summary of the Proposed Transaction

[In terms of Regulation 13(2) of the Competition Commission of India (Combination) Regulations, 2024]

A. Name of the parties to the combination

1. The names of the parties to the combination are:

• a. KEMPINC, LLP (KEMPINC)
• b. Rikhab Investments B.V. (Rikhab)
• c. Mr. Kuldeep Jain (KJ)
• d. Mrs. Nidhi Jain (NJ)
• e. Mr. Pratap Jain (PJ)
• f. Clean Max Enviro Energy Solutions Private Limited (CMES/Target)

(KEMPINC, Rikhab, KJ, NJ, and PJ are collectively referred to as the “Acquirers”; the Acquirers and CMES are collectively referred to as the “Parties”)

B. The nature and purpose of the combination

2. By way of the proposed transaction, KEMPINC and Rikhab propose to acquire additional shares in CMES, which will collectively give them (together with KJ, NJ, and PJ) additional rights in CMES by way of a multi-step secondary purchase of shares of CMES (Proposed Transaction).

3. The Proposed Transaction is in the nature of an acquisition of shares and is notifiable under Section 5(a)(i)(A) of the Competition Act, 2002 (as amended) (Competition Act).

C. The products, services and business(es) of the parties to the combination

KEMPINC

4. KEMPINC is a Limited Liability Partnership, with KJ and NJ acting as designated partners. The firm is ultimately managed by KJ.

Rikhab

5. This is an entity established in the Netherlands and is owned and controlled by KJ’s son (Mr. Dheer Jain).

KJ

6. KJ is a designated partner in KEMPINC. KJ is the founder and managing director of CMES.

NJ

7. NJ is the wife of KJ and is a designated partner in KEMPINC.

PJ

8. PJ is the father of KJ. PJ is a nominee director of CMES.

CMES

9. CMES is engaged in developing renewable power projects and the generation and sale of power generated from renewable energy projects. It is a renewable energy company that develops, owns, and operates solar and wind projects, primarily in India. It offers various renewable energy solutions, including rooftop solar installations, solar farms, wind farms, wind-solar hybrid farms and renewable energy certificates.

D. The respective markets in which the parties to the combination operate

10. There are no (a) horizontal overlaps; and/or (b) vertical or complementary links between the activities of the Acquirers (including their respective groups/affiliates) and CMES (including its affiliates) in India. Accordingly, absent any horizontally overlapping and/or vertically/complementary business activities of the Parties in India, the relevant market need not be defined and may be left open as the Proposed Transaction will not lead to any adverse effect on competition in India.

11. Therefore, the Proposed Transaction is being filed under the green channel route in terms of Section 6(4) of the Competition Act, read with Rule 3 of the Competition (Criteria of Combination) Rules, 2024 and Regulation 5(5) of the Competition Commission of India (Combinations) Regulations, 2024 for the Hon’ble Commission’s deemed approval under Section 6(5) read with Section 31(1) of the Competition Act.