Notice for Acquisition filed by Exide Industries Limited.

COMPETITION COMMISSION OF INDIA

19^th February, 2013

Combination Registration No.: C-2013/01/108

Order under Section 31(1) of the Competition Act, 2002

1. On 29^th January, 2013, the Competition Commission of India (hereinafter referred to as the “ Commission ”) received a notice under sub-section (2) of Section 6 of the Competition Act, 2002 (hereinafter referred to as the “ Act ”) of a proposed combination, given by Exide Industries Limited (hereinafter referred to as “ Exide ” or the “ Acquirer ”).

1. Exide is a listed, public limited company, incorporated under the provisions of the erstwhile Indian Companies Act, 1913. It has been stated in the notice that the principle activity of Exide is to manufacture and sell a range of batteries, which are supplied to various sectors of the economy. Exide also holds 50 per cent equity share capital of ING Vysya Life Insurance Company Limited (hereinafter referred to as “ ING Life ”).

1. ING Life is a public limited company incorporated under the provisions of Companies Act, 1956. As an insurance company, ING Life is registered under the provisions of the Insurance Regulatory and Development Authority (Registration of Insurance Companies) Regulations, 2000 read with the Insurance Act, 1938. ING Life is a joint venture between Exide and ING Insurance International B.V., Netherlands (hereinafter referred to as “ ING International ”). Exide and ING International hold 50 per cent and 26 per cent equity share capital respectively of ING Life and the remaining 24 per cent equity share capital is held by certain enterprises referred to as the “Indian Shareholders” in the notice. ING Life is engaged in providing life insurance services in India. The product portfolio of ING Life comprises of term insurance, traditional endowment, unit-linked, pension, children and retirement plans, etc.