Piramal Capital & Housing Finance Limited
CCIC-2020/10/781
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What the court decided
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A compact analysis
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SUMMARY OF THE COMBINATION
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Summary under Regulation 13 (1A) of the Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Regulations, 2011 (as amended)
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A. Name of the parties to the combination
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- The parties to the combination are:
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- (i) Piramal Capital & Housing Finance Limited (“ PCHFL ”); and
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- (ii) Dewan Housing Finance Corporation Limited (“ DHFL ”)
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PCHFL and DHFL are collectively referred to as the “ Parties ”.
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B. Nature and purpose of the combination
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- The proposed combination relates to PCHFL’s proposed bid for DHFL, pursuant to the submission of the bid / resolution plan to the Committee of Creditors in response to the corporate insolvency resolution process initiated under the Insolvency and Bankruptcy Code, 2016 (“ IBC ”) against DHFL (“ Proposed Transaction ”). The Proposed Transaction is an acquisition within the meaning of Section 5(a) of the Competition Act, 2002.
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