The Competition Commission of India disposed of a combination registration notice filed by Sundaram Asset Management Company Limited. The Commission found no appreciable adverse effect on competition due to insignificant market shares and approved the acquisition.
Proposed Combination approved under Section 31(1) of the Competition Act, 2002.
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.
COMPETITION COMMISSION OF INDIA
(Combination Registration No.C-2021/02/816)
05.04.2021
Notice under Section 6 (2) of the Competition Act, 2002 filed by Sundaram Asset Management Company 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
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Combination Registration No. C-2021/02/816
the proposed combination, the schemes of the Principal Mutual Fund ( PMF ) shall be transferred to Sundaram Mutual Fund ( SMF ) and the trusteeship and management of the PMF schemes shall be transferred to Sundaram Trustee Company Limited ( STCL ) and SAMC, respectively (hereinafter referred to as the “Proposed Combination”) . It is stated that post the Proposed Combination, SAMC will hold 100% equity share capital and voting rights of the Targets, and thereby solely control them.
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Combination Registration No. C-2021/02/816
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Combination Registration No. C-2021/02/816
India. Therefore, the Commission approves the Proposed Combination under Section 31(1) of the Act.
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3 issues framed by the court
Whether the proposed combination between Sundaram Asset Management Company Limited and Principal Retirement Advisors Private Limited would have an appreciable adverse effect on competition.
Whether combined market shares of the parties are insignificant in the relevant markets.
Whether the proposed vertical relationship raises competition foreclosure concerns.
4 provisions across 1 enactments
Sundaram Asset Management Company Limited
Principal Retirement Advisors Private Limited
Principal Trustee Company Private Limited
Principal Asset Management Private Limited
Ashok Kumar Gupta
Sangeeta Verma
Bhagwant Singh Bishnoi
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
