International Finance Corporation (Ifc)
CCIC-2023/06/1034
A compact analysis
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.
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Summary in terms of Regulation 13(1A) of the Competition Commission of
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India (Procedure in regard to the transaction of business relating to
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combinations) Regulations, 2011 (as amended)
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A. Name of the parties to the combination
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- The parties are:
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- (a) Acquirer : International Finance Corporation (“ IFC ”); and
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- (b) Target : A new wholly owned subsidiary proposed to be incorporated by Mahindra and Mahindra Limited (“ M&M ”).
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- IFC and the Target are collectively referred to as “ Parties ”.
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B. Nature and purpose of the combination
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- IFC is proposing to subscribe to certain compulsorily convertible preference shares (“ CCPS ”) of the Target, such that IFC will hold 9.97% to 13.64% shareholding in the Target (on a fully diluted basis), post conversion of the CCPS. The Proposed Combination is in the nature of an acquisition in terms of Section 5(a) of the Competition Act, 2002 (as amended) (“ Act” ).
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