Kedaara Capital Fund III LLP
Case brief
What is this about?
The Competition Commission of India considered a proposed share acquisition of Lenskart Solutions Private Limited by Kedaara Capital Fund III LLP. The Commission found no significant incremental market share change and no adverse effect on competition, approving 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-2023/08/1047)
3rd October 2023
Notice under Section 6(2) of the Competition Act, 2002 given by Kedaara Capital Fund III LLP
CORAM:
Ms. Ravneet Kaur Chairperson Mr. Anil Agrawal Member
Ms. Sweta Kakkad Member
Order under Section 31(1) of the Competition Act, 2002
- On 10th August 2023, the Competition Commission of India ( ‘Commission’ ) received a Notice under Section 6(2) of the Competition Act, 2002 ( ‘Act’ ) given by Kedaara Capital Fund III LLP ( ‘Acquirer’ ). The notice was filed pursuant to the execution of Share Purchase Agreement ( ‘SPA’) dated 3rd July 2023 between Acquirer and Kedaara Capital Fund II LLP ( ‘Seller 1’ ) and SPA dated 3rd July 2023 between Acquirer and Kedaara Norfolk Holdings Limited ( ‘Seller 2’ ) [Hereinafter, Seller 1 and Seller 2 are collectively referred to as ‘Sellers’ ]. Additionally, a Deed of Adherence to the existing shareholders’ agreement, inter alios, between the Acquirer and the Sellers was also executed on 3rd July 2023.
Issues for consideration
2 issues framed by the court
Whether the proposed acquisition of shares in Lenskart Solutions Private Limited by Kedaara Capital Fund III LLP is likely to have an appreciable adverse effect on competition in India.
Whether the Proposed Combination requires prior approval under the Competition Act, 2002.
Parties & counsel
- applicant
Kedaara Capital Fund III LLP
Coram
Ravneet Kaur
Anil Agrawal
Sweta Kakkad
Case details
As recorded by the court registry
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