Notice given by The Ratnakar Bank Limited.
Case brief
What is this about?
The Competition Commission of India considered a notice for the proposed combination of Ratnakar Bank and The Royal Bank of Scotland N.V. Finding that the deal would not appreciably affect competition in India, the Commission approved the combination under Section 31(1).
What did the court decide?
Approval of the proposed combination under Section 31(1) of the Competition Act, 2002.
What the court decided
A compact analysis
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
Fair competition for greater good
COMPETITION COMMISSION OF INDIA
(Combination Registration No. C-2013/08/129)
10.09.2013
Notice u/s 6 (2) of the Competition Act, 2002 given by:
Ratnakar Bank Limited.
Order under Section 31(1) of the Competition Act, 2002
- On 29th August, 2013 the Competition Commission of India (hereinafter referred to as the “ Commission ”) received a notice under subsection (2) of Section 6 of the Competition Act, 2002 (hereinafter referred to as the “ Act ”), given by Ratnakar Bank Limited (hereinafter referred to as “ Ratnakar Bank ” or the “ Acquirer ”). The notice was given pursuant to the execution of a Master Sale and Purchase Agreement entered into between Ratnakar Bank and The Royal Bank of Scotland N.V., (hereinafter referred to as “ RBS ”), on 8th August, 2013 (hereinafter referred to as the “ MSPA ”).
- As per the information given in the notice, the proposed combination relates to the acquisition by Ratnakar Bank of the “Relevant Business” of RBS which includes credit card business, mortgage portfolio and business banking business, pursuant to the MSPA. As stated in the notice, ‘mortgage portfolio’ includes housing loans & loans against property and ‘business banking business’ includes providing small and medium sized enterprises with high end products & services.
Issues for consideration
1 issue framed by the court
Whether the proposed acquisition of banking business by Ratnakar Bank from RBS is likely to have an appreciable adverse effect on competition in India under Section 5(a) of the Competition Act, 2002.
Parties & counsel
- applicant
Ratnakar Bank Limited
- other
The Royal Bank of Scotland N.V.
Coram
Ashok Chawla
Case details
As recorded by the court registry
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