Caladium Investment Pte. Ltd.
Case brief
What is this about?
The Competition Commission of India evaluated a proposed combination involving the acquisition of a 7.49% stake in Aditya Birla Fashion and Retail Limited by Caladium Investment Pte. Ltd. Considering the minuscule market share and lack of direct overlaps, the Commission approved the combination.
What did the court decide?
The Commission approves the Proposed Combination under Section 31(1) of the Act.
What the court decided
COMPETITION COMMISSION OF INDIA (Combination Registration No.C-2022/07/949)
30.08.2022
Notice under Section 6(2) of the Competition Act, 2002 filed by Caladium Investment PTE. Ltd
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 05.07.2022, the Competition Commission of India ( Commission ) received a notice under Section 6(2) of the Competition Act, 2002 ( Act ) given by Caladium Investment Pte. Ltd ( Caladium/GIC Investor ). The notice has been filed pursuant to the Securities Subscription Agreement ( SSA ) executed by and between Aditya Birla Fashion and Retail Limited ( ABFRL / Target ) and Caladium on 24.05.2022.
Issues for consideration
3 issues framed by the court
Whether the proposed acquisition of 7.49% shareholding in Aditya Birla Fashion and Retail Limited by Caladium Investment Pte. Ltd is likely to cause an appreciable adverse effect on competition.
Whether to approve the Proposed Combination under Section 31(1) of the Competition Act, 2002.
Whether the relevant markets for competition assessment should be narrowed to specific product segments of apparel, footwear, and accessories.
Parties & counsel
- other
Competition Commission of India
- petitioner
Caladium Investment Pte. Ltd
- respondent
Aditya Birla Fashion and Retail Limited
- petitioner
GIC Investor
Coram
Case details
As recorded by the court registry
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