Notice given by Sutlej Textiles and Industries Limited
Case brief
What is this about?
The Competition Commission of India approved the proposed acquisition of Chambal Fertilizers textile division by Sutlej Textiles. After assessing market shares and relevant factors, the Commission opined the combination would not cause an appreciable adverse effect on competition in the yarn market.
What did the court decide?
The proposed combination is approved under sub-section (1) of Section 31 of the Competition Act, 2002.
What the court decided
COMPETITION COMMISSION OF INDIA
(Combination Registration No. C-2015/04/266)
Fair Competition For Greater Good
05.06.2015
Notice under section 6(2) of the Competition Act, 2002 given by
- Sutlej Textiles and Industries Limited
Order under Section 31(1) of the Competition Act, 2002
- On 17th April 2015, the Competition Commission of India (“Commission”) received a notice under sub-section (2) of Section 6 of the Competition Act, 2002 (“Act”) given by Sutlej Textiles and Industries Limited (“ Sutlej Textiles ” or “ Acquirer ”).
- The proposed combination relates to the acquisition of textile division (“ Birla Textile Mills or Target Division ”) of Chambal Fertilizers and Chemicals Limited (“ Chambal Fertilizers ”) by Sutlej Textiles, pursuant to the execution of a binding term sheet dated 21st March 2015.
- In terms of Regulation 14 of the Competition Commission of India (Procedure in regard to transaction of business relating to combinations) Regulations, 2011 (“ Combination Regulations ”), vide letter dated 24th April 2015, the Acquirer was required to remove defects and furnish certain information/document(s) by 30th April 2015. The Acquirer filed its response on the due date. As the response dated 30th April 2015 was incomplete, vide letter dated 15th May 2015, the Acquirer was again required to remove defects and furnish requisite information/document(s). The Acquirer filed its response on 20th May 2015, after seeking extension of time.
Issues for consideration
1 issue framed by the court
Whether the proposed acquisition of textile division by Sutlej Textiles from Chambal Fertilizers would have an appreciable adverse effect on competition in India.
Parties & counsel
- other
Competition Commission of India
- petitioner
Sutlej Textiles and Industries Limited
Case details
As recorded by the court registry
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