Mcpi Private Limited
Case brief
What is this about?
The Commission considered a notice regarding MCPI's proposed acquisition of Garden Silk Mills during the Corporate Insolvency Resolution Process. After assessing market shares in PTA and polyester segments, it concluded the combination would not harm competition.
What did the court decide?
Notice under Section 6(2) of the Competition Act, 2002 is disposed of; Proposed Combination is not likely to have any appreciable adverse effect on competition.
What the court decided
COMPETITION COMMISSION OF INDIA
(Combination Registration No. C-2020/09/767)
18th September, 2020
Notice under Section 6 (2) of the Competition Act, 2002 filed by MCPI 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 1st September, 2020, the Competition Commission of India (“ Commission ”) received a notice under Section 6(2) of the Competition Act, 2002 (“ Act ”), filed by MCPI Private Limited (“ MCPI / Acquirer ”). The notice was filed pursuant to the submission of the Resolution Plan by MCPI to the Resolution Professional on 28th August, 2020.
- The Proposed Combination relates to the acquisition by MCPI through its wholly owned subsidiary, MCPI Polyester Private Limited (“ MCPI Polyester ”), of Garden Silk Mills Limited (“ GSML / Target ”), which is undergoing Corporate Insolvency
Issues for consideration
2 issues framed by the court
Whether the proposed combination between MCPI and GSML is likely to have an appreciable adverse effect on competition.
Whether the notice filed by MCPI under Section 6(2) of the Competition Act, 2002 requires any further examination.
Parties & counsel
- applicant
Competition Commission of India
- respondent
MCPI Private Limited
Coram
Ashok Kumar Gupta
Case details
As recorded by the court registry
Similar cases
Judgements on the same questions, provisions and authorities, from every court