Laptev Finance Limited
Case brief
What is this about?
The Competition Commission of India examined a notice regarding the acquisition of the Plates & Coils Mill Division of Welspun Corp Limited by Laptev Finance Private Limited. Assessing market shares and product overlaps, the Commission found no appreciable adverse effect on competition and approved the transaction.
What did the court decide?
The Proposed Combination is approved under Section 31(1) of the Competition Act, 2002, subject to confidentiality provisions.
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-2019/09/684)
18.11.2019
Notice u/s 6 (2) of the Competition Act, 2002 given by Laptev Finance Private Limited
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 09.09.2019, the Competition Commission of India (“ Commission ”) received a notice under Section 6(2) of the Competition Act, 2002 (“ Act ”) filed by Laptev Finance Private Limited (“ Laptev ” / “ Acquirer ”) relating to acquisition of Plates & Coils Mill Division (“ PCMD ”/ “ Target Business ”) of Welspun Corp Limited (“ Welspun ”), as a going concern on a slump sale basis (“ Proposed Combination ”). The notice has been filed pursuant to Business Transfer Agreement (“ BTA ”) entered between Welspun and Laptev on 31.03.2019.
Issues for consideration
3 issues framed by the court
Whether the proposed acquisition of Plates & Coils Mill Division by a JSW Group entity is likely to cause an appreciable adverse effect on competition in India.
Whether the combined market shares of the parties in relevant steel product segments raise competition concerns.
Whether the Commission should approve the Proposed Combination under Section 31(1) of the Competition Act, 2002.
Parties & counsel
- applicant
Laptev Finance Private Limited
- respondent
Welspun Corp Limited
Coram
Ashok Kumar Gupta
Case details
As recorded by the court registry
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