Gpl Finance and Investments Limited
Case brief
What is this about?
The Competition Commission of India issued an order approving the proposed acquisition of YES AMC and YES Trustee by GPL Finance under Section 31(1) of the Competition Act, 2002, finding no appreciable adverse effect on competition.
What did the court decide?
The Proposed Combination was approved under Section 31(1) of the Competition Act, 2002.
What the court decided
COMPETITION COMMISSION OF INDIA
(Combination Registration No. C-2021/03/823)
17th May 2021
Notice under Section 6 (2) of the Competition Act, 2002 given by GPL Finance and Investments 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 26th March 2021, the Competition Commission of India (‘ Commission ’) received a notice under sub-section (2) of Section 6 of the Competition Act, 2002 (‘ Act ’) given by GPL Finance and Investments Limited (‘ GPL ’/ ‘ Acquirer ’). The notice has been filed pursuant to the Share Purchase Agreement dated 21st August 2020 (‘ SPA ’), inter alios , between GPL, YES Asset Management (India) Limited (‘ YES AMC ’/ ‘ Target 1 ’) and YES Trustee Limited (‘ YES Trustee ’/ ‘ Target 2 ’) [Hereinafter, YES AMC and YES Trustee are collectively referred to as the ‘Targets’ and Acquirer and Targets as ‘Parties’].
Issues for consideration
2 issues framed by the court
Whether the proposed acquisition of YES AMC and YES Trustee by GPL Finance is likely to cause appreciable adverse effect on competition in India.
Whether potential vertical and complementary relationships between the parties result in market foreclosure.
Parties & counsel
- petitioner
Competition Commission of India
Coram
Ashok Kumar Gupta
Sangeeta Verma
Bhagwant Singh Bishnoi
Case details
As recorded by the court registry
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