Jointly by Ca Rover Holdings (“Rover”), Mauritius and State Bank of India (“Sbi”), Mumbai
Case brief
What is this about?
The Competition Commission of India approved a proposed combination where CA Rover Holdings and State Bank of India acquired shares in SBI Cards and GE Capital services from GE entities. The Commission found no appreciable adverse effect on competition.
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-2017/08/526)
Fair Competition For Greater Good
28th September, 2017
Notice under sub-section (2) of Section 6 of the Competition Act, 2002, jointly filed by CA Rover Holdings and State Bank of India
CORAM:
Mr. Sudhir Mital Member Mr. Augustine Peter Member Mr. U. C. Nahta Member Mr. G. P. Mittal Member
Legal representatives: 1. Cyril Amarchand Mangaldas on behalf of CA Rover Holdings. 2. Self –filing by State Bank of India.
Order under sub-section (1) of Section 31 of the Competition Act, 2002
- On 24th August, 2017, the Competition Commission of India (“ Commission ”) received a notice under sub-section (2) of Section 6 of the Competition Act, 2002 (“ Act ”) jointly filed by CA Rover Holdings (“ Rover ”) and State Bank of India (“ SBI ”) (“ Notice ”). (Hereinafter, Rover and SBI are collectively referred to as the “ Acquirers ”). The proposed combination relates to acquisition of shares in SBI Cards and Payment Services Private Ltd. (“ Target 1 ”) and GE Capital Business Process Management Services Private Ltd. (“ Target 2 ”) by SBI and Rover from the entities currently in possession of these shares, namely, GE Capital Mauritius Overseas Investment Limited (“ GE Capital ”) and GE Real Estate Investments Holdings (“ GE Real Estate ”). (Hereinafter, Target 1 and Target 2 are collectively referred to as the “ Targets ” and Acquirers and Targets are collectively referred to as the “ Parties ”).
Issues for consideration
2 issues framed by the court
Whether the proposed acquisition of shares in SBI Cards and GE Capital services by CA Rover Holdings and State Bank of India raises any appreciable adverse effect on competition.
Whether the vertical relationship between Target 1 and Allsec Technologies Limited poses competition concerns.
Parties & counsel
- applicant
CA Rover Holdings
- applicant
State Bank of India
Coram
Mr. Sudhir Mital
Case details
As recorded by the court registry
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