Ca Clover Intermediate II Investments
Case brief
What is this about?
The Competition Commission of India considered a notice regarding a proposed combination involving the transfer of a pharmaceutical business and the acquisition of equity by Curie, a special purpose vehicle. After assessing market overlaps and consumer impact, the Commission approved the combination. The case involves the approval of a merger under the Competition Act.
What did the court decide?
The proposed combination is approved 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.
Fair Competition For Greater Good
COMPETITION COMMISSION OF INDIA
(Combination Registration No. C-2020/07/758)
11.09.2020
Notice u/s 6 (2) of the Competition Act, 2002 filed by CA Clover Intermediate II Investments
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 16.07.2020, the Competition Commission of India (“ Commission ”) received a notice under Section 6(2) of the Competition Act, 2002 (“ Act ”) filed by CA Clover Intermediate II Investments ( “Curie/ Acquirer” ), pursuant to inter alia , Business Transfer Agreement (“ BTA ”) dated 26th June 2020 executed between Piramal Pharma Limited (“ Pharma Co./ Target ”) and Piramal Enterprises Limited (“ PEL ”) (Hereinafter, Curie and Pharma Co. are collectively referred to as “ Parties ”).
Issues for consideration
3 issues framed by the court
Whether the proposed combination involving transfer of pharmaceutical business and acquisition of equity by an investment vehicle would have an appreciable adverse effect on competition.
Whether the combined market shares of the acquirer and target are significant in the Contract Development and Manufacturing Organisation (CDMO) segment.
Whether the proposed transaction would result in foreclosure effects in the supply chain of generic medicines.
Parties & counsel
- applicant
CA Clover Intermediate II Investments
Coram
Ashok Kumar Gupta
Sangeeta Verma
Bhagwant Singh Bishnoi
Case details
As recorded by the court registry
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