SoftBank Group Corp., Japan
Case brief
What is this about?
The Competition Commission of India granted a partial rectification to an approval order under Section 31 regarding a stake acquisition. It corrected factual errors in market share data in paragraphs 10 and 11 but declined to rectify the submission on the degree of control in paragraph 6.
What did the court decide?
Rectification of factual errors in market share percentages in paragraphs 10 and 11 of the Order; refusal to rectify paragraph 6 regarding control observation.
What the court decided
Fair Competition For Greater Good
COMPETITION COMMISSION OF INDIA
(Combination Registration No. C-2017/06/514)
4th May, 2018
Notice under sub-section (2) of Section 6 of the Competition Act, 2002 filed by SoftBank Group Corp.
CORAM:
Mr. Devender Kumar Sikri Chairperson Mr. Sudhir Mital Member Mr. Augustine Peter Member Mr. U. C. Nahta Member
Order under Section 38 of the Competition Act, 2002
- On 2nd June, 2017, the Competition Commission of India (“ Commission ”) received a notice under sub-section (2) of Section 6 of the Competition Act, 2002 (“ Act ”) filed by Softbank Group Corp (“ SB Group ” / “ Acquirer ”). The proposed combination pertains to primary as well as secondary acquisition of 20% stake in One97 Communications Limited (“ OCL ” / “ Target ”) by SB Group through its wholly-owned subsidiary SoftBank Group Capital Limited (“ SBGC ”) (“ Proposed Combination ”).
Issues for consideration
3 issues framed by the court
Whether parliamentary errors in an approval order under Section 31 can be rectified under Section 38.
Whether factual errors resulting in changed market share data constitute a matter of rectification under Section 38.
Whether the Commission's observation regarding the Acquirer's control is subject to rectification under Section 38.
Parties & counsel
- applicant
SoftBank Group Corp
Coram
Devender Kumar Sikri
Sudhir Mital
Augustine Peter
Case details
As recorded by the court registry
All orders in this case
2 orders share this CNR
- Order 1 — this page
- Order 2
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