Nirma Limited
Case brief
What is this about?
The Competition Commission of India evaluated a proposed combination between Nirma Limited and Glenmark Life Sciences involving share acquisition and an open offer. The Commission found the combination would not have an appreciable adverse effect on competition and approved it under Section 31(1) of the Competition Act, 2002.
What did the court decide?
The Commission approved the Proposed Combination under Section 31(1) of the Act.
What the court decided
COMPETITION COMMISSION OF INDIA Combination Registration No. C-2023/10/1064
19th December 2023
Notice under Section 6(2) of the Competition Act, 2002 given by Nirma Limited
CORAM:
Ms. Ravneet Kaur Chairperson Mr. Anil Agrawal Member Mr. Deepak Anurag Member
Order under Section 31(1) of the Competition Act, 2002
- On 18th October 2023, the Competition Commission of India ( Commission ) received a notice ( Notice ) under Section 6(2) of the Competition Act, 2002 ( Act ), given by Nirma Limited ( Nirma ). The Notice was given pursuant to the execution of a Share Purchase Agreement ( SPA ) between Nirma, Glenmark Life Sciences Limited ( Glenmark Life Sciences ), and Glenmark Pharmaceuticals Limited ( GPL ) on 21st September 2023.
- The Commission, vide its communication dated 30th October 2023, 1st November 2023, and 17th November 2023, issued under Regulation 14(3) of the Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Regulations, 2011 required Nirma to remove defects from the Notice and furnish certain information relevant for the purpose of assessment of the proposed combination. Nirma furnished its responses vide submissions dated 6th November 2023, 9th November 2023, and 28th November 2023. Nirma also made submissions dated 8th December 2023, 14th December 2023, 18th December 2023, and 19th December 2023.
Issues for consideration
2 issues framed by the court
Whether the proposed combination between Nirma and Glenmark Life Sciences is likely to have any appreciable adverse effect on competition.
Whether the acquisition of API business by Nirma would affect competition in the relevant markets.
Parties & counsel
- applicant
Nirma Limited
Coram
Ravneet Kaur
Anil Agrawal
Deepak Anurag
Case details
As recorded by the court registry
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