Pg Esmeralda Pte. Limited
Case brief
What is this about?
The Competition Commission of India approved a proposed combination involving PG Esmeralda Pte. Limited acquiring up to 38.41% shares in Ecom Express Private Limited. The Commission found that the combination, being a vertical relationship, was not likely to have any appreciable adverse effect on competition in India.
What did the court decide?
The Commission approved the proposed combination under Section 31(1) of the Competition Act, 2002.
What the court decided
COMPETITION COMMISSION OF INDIA (Combination Registration No. C-2020/12/801)
11th January 2021
Notice under Section 6 (2) of the Competition Act, 2002 Given by PG Esmeralda Pte. 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 23rd December 2020, the Competition Commission of India (‘ Commission ’) received a notice (‘ Notice ’) under Section 6(2) of the Competition Act, 2002 (‘ Act ’), given by PG Esmeralda Pte. Limited (‘ Acquirer ’). The Notice was given pursuant to the New Investor-Eaglebay Share Purchase Agreement, the New Investor-Management SPA, the Share Subscription Agreement, and the Restated Shareholders’ Agreement executed inter alia between the Acquirer and Ecom Express Private Limited (‘ Ecom ’ / ‘ Target ’) on 11th December 2020.
Issues for consideration
3 issues framed by the court
Whether the proposed combination between PG Esmeralda Pte. Limited and Ecom Express Private Limited is likely to have an appreciable adverse effect on competition in India.
Whether the parties exhibit a horizontal or vertical relationship that could lead to foreclosure concerns.
Whether the details provided in the notice under Section 6(2) warrant approval of the combination under Section 31(1).
Parties & counsel
- petitioner
PG Esmeralda Pte. Limited
- respondent
Ecom Express 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