Imcd India Private Limited
Case brief
What is this about?
The Competition Commission of India approved a proposed combination wherein IMCD India Private Limited acquired 30% equity stake in Signet Excipients Private Limited, resulting in 100% ownership. The Commission found no appreciable adverse effect on competition given the low combined market share.
What did the court decide?
The Proposed Combination is approved under Section 31(1) of the Competition Act, 2002.
What the court decided
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.
COMPETITION COMMISSION OF INDIA
Combination Registration No. C-2023/12/1083
9th January 2024
Notice under Section 6(2) of the Competition Act, 2002 given by IMCD India Private Limited
CORAM:
Ms. Ravneet Kaur Chairperson
Mr. Anil Agrawal Member
Ms. Sweta Kakkad Member
Order under Section 31(1) of the Competition Act, 2002
- On 1st December 2023, the Competition Commission of India (‘ Commission’ ) received a notice (‘ Notice’ ) under Section 6(2) of the Competition Act, 2002 (‘ Act’ ), given by IMCD India Private Limited (‘ Acquirer'/‘IMCD’ ). The Notice was given pursuant to the Share Purchase Agreement (‘ SPA ’) entered into between Sellers (promoter shareholders), Acquirer, IMCD N.V., and Signet Excipients Private Limited (‘ Target ’/‘ Signet ’) dated 15th September 2020 and Shareholders’ Agreement (‘ SHA ’) inter alia entered into between Acquirer, IMCD N.V., Target, and certain seller shareholders dated 15th September 2020. [Hereinafter, Acquirer and Target are collectively referred to as ‘ Parties ’]
Issues for consideration
2 issues framed by the court
Whether the proposed acquisition of remaining equity by the Acquirer from promoters in the Target requires Commission approval.
Whether the proposed combination is likely to cause an appreciable adverse effect on competition in any relevant market.
Parties & counsel
- petitioner
Competition Commission of India
- respondent
IMCD India Private Limited
Coram
Ravneet Kaur
Case details
As recorded by the court registry
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