Bnp Paribas S.A.
Case brief
What is this about?
The Competition Commission of India examined a notice regarding the proposed acquisition of Sharekhan Limited by BNP Paribas S.A. After addressing validity issues regarding the notice submission, the Commission found no appreciable adverse effect on competition and approved the combination.
What did the court decide?
The proposed combination of BNP Paribas S.A. and Sharekhan Limited is approved under Section 31(1) of the Competition Act, 2002.
What the court decided
COMPETITION COMMISSION OF INDIA (Combination Registration No. C-2015/12/354)
22.12.2015
Fair Competition For Greater Good
Notice u/s 6 (2) of the Competition Act, 2002 given by BNP Paribas S.A.
CORAM:
Mr. Ashok Chawla Chairperson Mr. S. L. Bunker Member Mr. Augustine Peter Member Mr. U.C. Nahta Member Mr. M. S. Sahoo Member Mr. G. P. Mittal Member
Legal Representatives of the parties: M/s Cyril Amarchand Mangaldas
Order under Section 31(1) of the Competition Act, 2002
- On 15.12.2015, 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 ( “Act” ) filed by BNP Paribas S.A. (“ BNPP ” or “ Acquirer ”). The said notice was given to the Commission pursuant to execution of Securities Purchase Agreement on 30.07.2015 (“ SPA ”) between BNPP, Sharekhan Limited (“ SKL ”), Human Value Developers
Issues for consideration
3 issues framed by the court
Whether a notice filed by an acquirer without proper authorization under Combination Regulations is valid.
Whether the proposed acquisition between BNP Paribas and Sharekhan Limited will cause appreciable adverse effect on competition.
Whether the combination involves horizontal or vertical overlaps raising competition concerns.
Parties & counsel
- applicant
BNP Paribas S.A.
- other
Sharekhan Limited
- other
Human Value Developers Private Limited
Coram
Case details
As recorded by the court registry
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