Emerald Sage Investment Ltd.
Case brief
What is this about?
The Competition Commission of India approved a proposed combination where Emerald Sage Investment Limited would acquire approximately 9.93% of Apollo Tyres Limited shareholders capital. The Commission found no competition concerns given the acquirer's non-tyre business profile and existing holdings.
What did the court decide?
The proposed combination was approved under Section 31(1) of the Competition Act, 2002.
What the court decided
COMPETITION COMMISSION OF INDIA
(Combination Registration No. C-2020/03/738)
13th April, 2020
Notice under Section 6(2) of the Competition Act, 2002 filed by Emerald Sage Investment 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 20th March, 2020, the Competition Commission of India ( Commission ) received a notice ( Notice ) under Section 6(2) of the Competition Act, 2002 ( Act ), filed by Emerald Sage Investment Limited ( Acquirer ). The Notice has been filed pursuant to the execution of an investment agreement inter alia amongst the Acquirer, Apollo Tyres Limited ( Apollo Tyres ), PTL Enterprises Limited ( PTL ) and the Promoter Group of Apollo, on 27th February, 2020.
Issues for consideration
1 issue framed by the court
Whether the proposed acquisition of shares resulting in approximately 9.93% post-issue shareholding along with board nomination rights is likely to cause any appreciable adverse effect on competition
Parties & counsel
- other
Competition Commission of India
- applicant
Emerald Sage Investment Limited
- other
Apollo Tyres Limited
- other
PTL Enterprises Limited
Coram
Case details
As recorded by the court registry
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