Future Coupons Limited, Mumbai
Case brief
What is this about?
The Competition Commission of India approved a proposed combination involving the issuance of equity warrants by Future Retail Limited to Future Coupons Limited, determining that it would not cause an appreciable adverse effect on competition in India.
What did the court decide?
The proposed combination is hereby approved under Section 31(1) of the Act.
What the court decided
COMPETITION COMMISSION OF INDIA (Combination Registration No. C-2019/03/653)
Fair Competition For Greater Good
15.04.2019
Notice u/s 6 (2) of the Competition Act, 2002 filed by Future Coupons Limited.
CORAM:
Mr. Ashok Kumar Gupta Chairperson Mr. U. C. Nahta Member
Ms. Sangeeta Verma Member
Legal representatives : M/s Trilegal
Order under Section 31(1) of the Competition Act, 2002
- On 19.03.2019, the Competition Commission of India (“ Commission ”) received a notice under Section 6(2) of the Competition Act, 2002 (“ Act ”) filed by Future Coupons Limited (“ FCL ”/ “ Acquirer ”).
- The proposed combination relates to issue and allotment of equity warrants of Future Retail Limited (“ FRL ”) to FCL, on exercise of equity warrants, FCL will hold 7.30 per cent in FRL (“ Proposed Combination ”). The Proposed Combination has been filed pursuant to resolution passed by board of directors of FCL and FRL on 25.01.2019 and 04.02.2019 respectively (hereinafter, FCL and FRL are collectively referred to as the “ Parties ”).
Issues for consideration
3 issues framed by the court
Whether the proposed combination of equity warrants between Future Coupons Limited and Future Retail Limited is likely to have an appreciable adverse effect on competition in any relevant market in In
Whether the proposed combination satisfies the requirements for clearance under Section 31 of the Competition Act, 2002.
Whether the information provided by the acquirers regarding the proposed combination is sufficient to pass the prima facie test.
Parties & counsel
- applicant
Future Coupons Limited
- respondent
Future Retail Limited
Coram
Ashok Kumar Gupta
Case details
As recorded by the court registry
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