21 December 2020
Penalties in Combination Cases Under the Competition Act, 2002
Under the Indian merger control regime, a ‘combination’ (i.e., an acquisition, merger or amalgamation (collectively, ‘Combination’), must be notified to and approved by the Indian competition law authority, Competition Commission of India (‘CCI’), if it breaches the prescribed asset and turnover thresholds and does not qualify for any statutory exemptions…
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CCI Dismisses Allegations of Abuse of Dominance against Security Printing and Minting Corporation of India and Security Paper Mill
On November 12, 2020, CCI dismissed information alleging contravention of the provisions of the CA02 against Security Printing and Minting Corporation of India (‘SPMCI’) and its unit, Security Paper Mill (‘SPM’) (collectively, ‘OPs’)…
- CCI Initiates an Investigation against Google on Allegations of Abuse of Dominance
On November 9, 2020, CCI initiated an investigation against Alphabet Inc., Google LLC, Google Ireland Limited, Google India Private Limited and Google India Digital Services Private Limited (collectively, ‘Google’)…
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CCI Dismisses Allegations of Abuse of Dominance against Uppal Chadha Hi-Tech Developers Pvt Ltd
On October 29, 2020, CCI dismissed two sets of information filed against Uppal Chadha Hi-Tech Developers Pvt Ltd, (‘UCHDPL’) and its director, alleging contravention of the provisions of the CA02…
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NCLAT Upholds CCI’s Order Dismissing Allegations of Abuse of Dominance against Hexagon Geosystems India Pvt. Ltd
On November 4, 2020, the NCLAT upheld CCI’s order dismissing allegations of abuse of dominance against Hexagon Geosystems India Pvt. Ltd. (‘Hexagon’).
M/s Sowil Limited (‘Sowil’), the informant, had alleged that Hexagon contravened the provisions of the CA02 by charging high prices…
- NCLAT Upholds CCI’s Order Dismissing Allegations of Abuse of Dominance against Kerala Agro Machinery Corporation Ltd Pvt. Ltd
On November 4, 2020, the NCLAT upheld CCI’s order dismissing allegations of abuse of dominance against Kerala Agro Machinery Corporation Ltd (‘KAMCO’) brought by the informant…
- CCI Approves Demerger of GHCL Ltd.’s Textiles Business Division into its Wholly Owned Subsidiary GHCL Textiles
On September 29, 2020, CCI approved the demerger of the textiles business of GHCL Ltd. (‘GHCL’) into its wholly owned subsidiary, GHCL Textiles (‘GHCL Textiles’)…
- CCI Approves MCPI Private Limited’s Acquisition of Garden Silk Mills Limited
On September 18, 2020, CCI approved MCPI Private Limited’s (‘MCPI’) acquisition of Garden Silk Mills Limited (‘GSML), through MCPI Polyester Private Limited, pursuant to proceedings under the Insolvency and Bankruptcy Code, 2016 (‘IBC’)…
- CCI Approves Acquisitions of Sole Control over DuPont De Nemour’s nutrition and Biosciences Business by International Flavors and Fragrances Inc.
On September 18, 2020, CCI approved International Flavors & Fragrances Inc.’s (‘IFF’) acquisition of sole control over Nutrition & Biosciences, Inc. (‘SpinCo’), a recently incorporated company to which DuPont de Nemours (‘DuPont’) would transfer its nutrition & biosciences businesses (‘N&B Business’)…
- CCI Approves Acquisitions of Reliance Communications Limited and Reliance Telecom Limited by UV Asset Reconstruction Company Limited’s
On September 18, 2020, CCI approved UV Asset Reconstruction Company Limited’s (‘UVARCL) acquisition of the entire existing business operations and assets of Reliance Communications Limited (‘RCOM’) and Reliance Telecom Limited (‘RTL’), pursuant to proceedings under the IBC…
- CCI Approves an Acquisition of Additional 6.51% Equity Shareholding in Clariant AG by SABIC International Holdings BV
On September 2, 2020, CCI approved the acquisition of additional 6.51% shareholding in Clariant AG (‘Clariant’) by SABIC International Holdings B.V. (‘SABIC BV’).
SABIC BV is a wholly owned affiliate of Saudi Basic Industries Corporation (‘SABIC’) and is the holding company…
- CCI Approves Lightstone Global Fund’s Acquisition of Equity Shareholding in Ascent Health and Wellness Solutions Private, Aahaan Commercials Private Limited, Lokprakash Vidhya Private Limited, 91Streets Media Technologies Private Limited and API Holdings Private Limited.
On August 26, 2020, CCI approved Lightstone Global Fund’s (‘Lightstone’) acquisition of: (i) 2.10% equity shareholding in Ascent Health and Wellness Solutions Private Limited (‘Ascent’); (ii) 10.44% equity shareholding in Lokprakash Vidhya Private Limited (‘Lokprakash’)…
- CCI Approves Acquisition of up to 58.92% in HealthCare Global Enterprises Limited by Aceso Company Pte. Ltd.
On July 15, 2020, CCI approved the acquisition of up to 58.92% of the equity shareholding in HealthCare Global Enterprises Limited (‘HCG’) by Aceso Company Pte. Ltd. (‘Aceso’)…
- CCI Approves Acquisitions of Metso OYJ’s Mineral Business by Outotec OYJ
On July 18, 2020, CCI approved acquisition of Metso OYJ’s (‘Metso’) mineral business by Outotec OYJ (‘Outotec’). The combination involved a partial demerger of Metso’s assets, rights, debts, and liabilities related to its minerals business (‘Metso Minerals’), which would be acquired by Outotec…
- CCI Approves Merger between Eros International Plc, STX Filmworks, Inc. and Marco Alliance Limited
On July 8, 2020, CCI approved the merger between Eros International Plc (‘Eros Plc), STX Filmworks, Inc. (‘STX’) and Marco Alliance Limited (‘Marco’). The Agreement and Plan of Merger was entered into among Eros Plc, England Holdings 2 Inc (‘England Holdings 2’), England Merger Corp (‘Merger Sub’) and STX…
- CCI Approves the Merger of Peugeot SA into Fiat Chrysler Automobiles N.V.
On June 4, 2020, CCI approved the merger of Peugeot S.A. (‘PSA’) with and into Fiat Chrysler Automobiles N.V. (‘FCA’).
PSA is the holding company of a French-based group, which is primarily a global OEM and dealer of: (i) motor vehicles; (ii) passenger cars; and (iii) light commercial vehicles…
For further information, please contact:
Zia Mody, Partner, AZB & Partners
zia.mody@azbpartners.com
