The Competition Commission of India approved a proposed combination where an Indian acquirer purchased the wealth management business of Royal Bank of Scotland N.V., finding no appreciable adverse effect on competition due to lack of overlaps.
Approves the proposed combination under Section 31(1) of the Competition Act, 2002.
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-2015/10/327)
30th November 2015
Notice under Section 6 (2) of the Competition Act, 2002 given by Sanctum Wealth Management Private Limited
CORAM:
Ashok Chawla
Chairperson
S. L. Bunker
Member
Sudhir Mital Member
Augustine Peter Member
U.C. Nahta Member
M.S. Sahoo Member
G.P. Mittal
Member
Legal Representative: Phoenix Legal
Order under Section 31(1) of the Competition Act, 2002
Page 1 of 3
COMPETITION COMMISSION OF INDIA
Fair Competition For Greater Good
(" Business Transfer Agreement " or the " BTA ") between the Acquirer and Royal Bank of Scotland N.V. (“ RBS ” or “ Seller ”).
Page 2 of 3
C-2015/10/327
COMPETITION COMMISSION OF INDIA
Fair Competition For Greater Good
Page 3 of 3
C-2015/10/327
3 issues framed by the court
Whether the proposed acquisition of wealth management business involves appreciable adverse effect on competition.
Whether the Commission can approve the combination under Section 31(1) of the Competition Act, 2002.
Whether horizontal or vertical overlaps exist between the acquirer and the seller.
3 provisions across 3 enactments
Phoenix Legal
Ashok Chawla
S. L. Bunker
Sudhir Mital
Augustine Peter
U.C. Nahta
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
