Singapore VII Topco I Pte. Ltd.
Case brief
What is this about?
The Competition Commission of India approved a proposed combination where Singapore VII Topco I Pte. Ltd. acquired up to 51% of Aakash Educational Services Limited. The Commission found no existing horizontal or vertical overlap and concluded the deal would not appreciably affect competition.
What did the court decide?
Approval of the proposed combination 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.
COMPETITION COMMISSION OF INDIA
(Combination Registration No. C-2019/08/678)
6th September, 2019
Notice under Section 6 (2) of the Competition Act, 2002 filed by
Singapore VII Topco I Pte. Ltd.
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 5th August, 2019, Competition Commission of India (“ Commission ”) received a notice under Section 6(2) of the Competition Act, 2002 (“ Act ”), filed by Singapore VII Topco I Pte. Ltd. (“ Acquirer ”). The notice has been filed pursuant to the execution of Share Purchase Agreement, Differential Voting Rights Share Subscription Agreement and Shareholders Agreement, each dated 23rd July 2019 (SPA), entered into between, inter alios , the Aakash Educational Services Limited ( “Target” ), Aakash Chaudhary and the Acquirer.
Issues for consideration
2 issues framed by the court
Whether the proposed acquisition of shares in a coaching institute by a foreign affiliate results in an appreciable adverse effect on competition.
Whether the combination warrants approval under Section 31(1) of the Competition Act, 2002.
Parties & counsel
- applicant
Competition Commission of India
- applicant
Singapore VII Topco I Pte. Ltd.
Coram
Ashok Kumar Gupta
Case details
As recorded by the court registry
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