Kora Master Fund Lp
Case brief
What is this about?
The Competition Commission of India disposed of a notice filed under Section 6(2) regarding a proposed USD 75 million investment by Kora Master Fund LP in Edelweiss Securities Limited.
What did the court decide?
The proposed combination between Kora Master Fund LP and Edelweiss Securities Limited is approved under Section 31(1) of the Act.
What the court decided
COMPETITION COMMISSION OF INDIA
(Combination Registration No. C-2019/08/681)
15th October, 2019
Notice under Section 6 (2) of the Competition Act, 2002 filed by Kora Master Fund LP.
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 30th August, 2019, the Competition Commission of India (Commission) received a notice under sub-section (2) of Section 6 of the Competition Act, 2002 (Act) filed by Kora Master Fund LP (“Kora” / “Acquirer”) . The notice was given pursuant to Share Subscription Agreement ( SSA ), executed between Edelweiss Securities Limited (ESL), Kora and Edelweiss Financial Services Limited ( EFSL ), holding company of ESL, dated 14th August 2019.
Issues for consideration
2 issues framed by the court
Whether a notice under Section 6(2) regarding a proposed investment by Kora Master Fund LP in Edelweiss Securities Limited requires the Commission to determine if the combination has appreciable adver
Whether the proposed combination is likely to have an appreciable adverse effect on competition in India under Section 20 of the Act.
Parties & counsel
- other
Competition Commission of India
- applicant
Kora Master Fund LP
Coram
Ashok Kumar Gupta
Case details
As recorded by the court registry
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