Mr. Sanjit Bakshi And Oriental Structural Engineers Private Limited
Case brief
What is this about?
The Competition Commission of India received a notice regarding a proposed share acquisition by Mr. Sanjit Bakshi in Oriental Structural Engineers Private Limited. The Commission observed that the transaction involved an existing promoter acquiring shares from an exiting shareholder, concluding that it would not alter market competition dynamics.
What did the court decide?
The proposed combination is approved under sub-section (1) of Section 31 of the Act as it is not likely to have an appreciable adverse effect on competition.
What the court decided
Fair Competition For Greater Good
COMPETITION COMMISSION OF INDIA (Combination Registration No. C-2017/10/533)
16th November, 2017
Notice under Section 6 (2) of the Competition Act, 2002 filed by Mr. Sanjit Bakshi.
CORAM:
Mr.Devender Kumar Sikri Chairperson
Mr. S.L. Bunker Member Mr. Sudhir Mital Member
Mr. Augustine Peter Member Mr. U.C. Nahta Member
Legal Representative: Luthra & Luthra
Order under Section 31(1) of the Competition Act, 2002
- On 30th October, 2017, the Competition Commission of India (hereinafter referred to as the “ Commission ”) received a notice filed by Mr. Sanjit Bakshi (“SB”) pursuant to a Share Purchase Agreement (“SPA”) dated 30th June, 2017 entered, inter-alia , amongst GE Equity International Mauritius (“GE”) SB and Oriental Structural Engineers Private Limited (“OSE”) . (Hereinafter, OSE and SB are collectively referred to as “ Parties ).
Issues for consideration
2 issues framed by the court
Whether the proposed acquisition of a 5.615 percent stake in OSE by SB from GE is likely to have an appreciable adverse effect on competition.
Whether the proposed combination, involving an existing promoter acquiring shares from an exiting shareholder, alters market competition dynamics.
Parties & counsel
- applicant
Mr. Sanjit Bakshi
- respondent
Orietal Structural Engineers Private Limited
- respondent
GE Equity International Mauritius
Coram
Case details
As recorded by the court registry
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