Hdfc Bank Limited
Case brief
What is this about?
The Competition Commission approved a proposed acquisition by HDFC Bank of a minority stake in HDFC ERGO General Insurance. The Commission found no horizontal overlap or significant vertical foreclosure potential given the low market shares of the parties.
What did the court decide?
The Proposed Combination in respect of the acquisition of equity shares by HDFC Bank from HDFC in HDFC ERGO is approved.
What the court decided
COMPETITION COMMISSION OF INDIA
(Combination Registration No. C-2021/09/872)
25th October 2021
Notice under Section 6(2) of the Competition Act, 2002 given by HDFC Bank 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 17th September 2021, the Competition Commission of India (‘ Commission ’) received a Notice under Section 6(2) of the Competition Act, 2002 (‘ Act ’), given by HDFC Bank Limited (‘ Acquirer ’). The Notice was filed pursuant to the execution of a Binding Term Sheet (‘ BTS ’) on 19th June 2021, between the Acquirer and Housing Development Finance Corporation Limited (‘ HDFC ’).
Issues for consideration
2 issues framed by the court
Whether the proposed acquisition results in any appreciable adverse effect on competition in India.
Whether the Commission should approve the proposed combination under Section 31(1) of the Act.
Parties & counsel
- applicant
Competition Commission of India
- applicant
HDFC Bank Limited
- other
Housing Development Finance Corporation Limited
- other
HDFC ERGO General Insurance Co. Ltd.
Coram
Case details
As recorded by the court registry
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