Mitsubishi Corporation
Case brief
What is this about?
The Competition Commission of India approved a proposed combination where Mitsubishi Corporation acquired shares in TVS Automobile Solutions Private Limited. The Commission found no likely appreciable adverse effect on competition, noting unrelated business scopes and insignificant market presence of related entities, approving the merger under Section 31(1).
What did the court decide?
The Commission approved the Proposed Combination under Section 31(1) of the Act.
What the court decided
COMPETITION COMMISSION OF INDIA
(Combination Registration No. C-2019/07/675)
6th September, 2019
Notice under Section 6(2) of the Competition Act, 2002 filed by Mitsubishi Corporation
CORAM:
Mr. Ashok Kumar Gupta Chairperson
Ms. Sangeeta Verma Member
Mr. Bhagwant Singh Bishnoi Member
Order under Section 31(1) of the Competition Act, 2002
- On 26h July, 2019, the Competition Commission of India ( Commission ) received a notice ( Notice ) under Section 6(2) of the Competition Act, 2002 ( Act ), filed by Mitsubishi Corporation ( Mitsubishi ). The Notice has been given pursuant to the Share Subscription Agreement and Share Purchase Agreement, both executed on 21st June 2019 between Mitsubishi, TVS Automobile Solutions Private Limited ( TASL ) and certain existing shareholders of TASL. Mitsubishi and TASL are hereinafter collectively referred to as Parties .
Issues for consideration
3 issues framed by the court
Whether the Proposed Combination between Mitsubishi Corporation and TVS Automobile Solutions Private Limited is likely to have any appreciable adverse effect on competition in India.
Whether the Commission should approve the Proposed Combination under Section 31(1) of the Act.
Whether the business scope of non-compete covenants is ancillary to the Proposed Combination.
Parties & counsel
- applicant
Competition Commission of India
- respondent
Mitsubishi Corporation
- respondent
TVS Automobile Solutions Private Limited
Coram
Case details
As recorded by the court registry
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