The Competition Commission of India approved a proposed combination where Generali Participations Netherlands N.V. increased its stake in Future Generali India Insurance Company Limited from 49% to 74%. The Commission found no appreciable adverse effect on competition.
Approval of the Proposed Combination under Section 31(1) of the Act.
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-2022/02/903)
15.03.2022
Notice under Section 6(2) of the Competition Act, 2002 filed by Generali Participations Netherlands N.V.
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
Page 1 of 4
Combination Registration No. C-2022/02/903
SHA dated 26.01.2022 ( Shendra SHA ) entered into amongst FEL, GPN, Future Corporate Resources Private Limited ( FCRPL ) and Shendra.
Page 2 of 4
Combination Registration No. C-2022/02/903
Page 3 of 4
Combination Registration No. C-2022/02/903
(0 – 5) per cent in Sub-segments of General Insurance in India. Further, there are other players present in general insurance services in India such as New India Assurance, United India Insurance, National Insurance Co and ICICI Lombard, who will continue to give competitive constraints to the Parties post the Proposed Combination. Further, the presence of the Target in the Upstream market for general insurance as well as the presence of FG&G in the Downstream Market are insignificant to raise any competition foreclosure concerns in India. It is also mentioned that there are various other players in the Downstream Market, such as Invictus Insurance Broking, D2C Insurance Broking, UMBO ID Tech and Design For Use Consulting.
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2 issues framed by the court
Whether the proposed combination involving an increase in stake by an existing shareholder is likely to cause an appreciable adverse effect on competition.
Whether the Commission should approve the proposed combination under Section 31(1) of the Competition Act, 2002.
4 provisions across 1 enactments
Competition Commission of India
Generali Participations Netherlands N.V.
Future Generali India Insurance Company 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
