Carmel Point Investment Ltd, Mauritius
Case brief
What is this about?
The Competition Commission of India approved the proposed acquisition by Carmel Point Investment Ltd. of 26% share capital of IndiaFirst Life Insurance Company Limited. The Commission found no overlap or vertical relationships likely to cause competition concerns.
What did the court decide?
The proposed combination was approved under Section 31(1) of the Competition Act, 2002.
What the court decided
A compact analysis
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-2018/06/578)
19th July, 2018
Notice under Section 6 (2) of the Competition Act, 2002 filed by Carmel Point Investment Ltd.
CORAM:
Mr. Sudhir Mital Chairperson Mr. Augustine Peter Member Mr. U.C. Nahta Member Mr. Justice G. P. Mittal Member
Legal Representative: Cyril Amarchand Mangaldas
Order under Section 31(1) of the Competition Act, 2002
- On 26th June, 2018, the Competition Commission of India (hereinafter referred to as the “ Commission ”) received a notice filed by Carmel Point Investment Ltd. (“CPIL”/”Acquirer”) pursuant to execution of Share Purchase Agreement dated 01th June, 2018, executed amongst CPIL, IndiaFirst Life Insurance Company Limited (“IndiaFirst”/“Target”) and Legal & General Middle East Limited (" LGMEL ”/ “ Seller ").
Issues for consideration
2 issues framed by the court
Whether the proposed acquisition of shares by CPIL from LGMEL requires approval under the Competition Act, 2002.
Whether the proposed combination is likely to have an appreciable adverse effect on competition in India.
Parties & counsel
- applicant
Carmel Point Investment Ltd.
- other
IndiaFirst Life Insurance Company Limited
Coram
Sudhir Mital
Case details
As recorded by the court registry
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