Mitsubishi Corporation
Case brief
What is this about?
The Competition Commission of India examined a proposed combination where Mitsubishi Corporation acquired stakes in two TVS subsidiaries involved in automobile dealership and auctions. The Commission assessed market shares and vertical linkages, finding no anti-competitive concerns, and approved the combination.
What did the court decide?
The Proposed Combination is approved under Section 31(1) of the Act.
What the court decided
COMPETITION COMMISSION OF INDIA
Combination Registration No. C-2024/04/1133
11th June 2024
Notice under Section 6(2) of the Competition Act, 2002 given by Mitsubishi Corporation
CORAM:
Ms. Ravneet Kaur Chairperson Mr. Anil Agrawal Member
Ms. Sweta Kakkad Member
Mr. Deepak Anurag Member
Order under Section 31(1) of the Competition Act, 2002
- On 12th April 2024, the Competition Commission of India ( Commission ) received a Notice under Section 6(2) of the Competition Act, 2002 ( Act ) given by Mitsubishi Corporation ( Mitsubishi / Acquirer ). The Notice was filed pursuant to the execution of (i) Joint Venture Agreement, dated 6th March 2024, amongst TVS Mobility Private Limited ( TVS Mobility ), Mitsubishi, Arai Shoji Co. Limited ( Arai ) and TVS Certified Private Limited ( TVS Certified / Target 1 ) ( Auction JVA ); (ii) Joint Venture Agreement, dated 23rd February 2024, amongst TVS Mobility, Mitsubishi, TVS Vehicle Mobility Solution Private Limited ( TVS VMS / Target 2 ) and Dinram Holdings Private Limited ( Auto Retail JVA ); and (iii) Share Subscription Agreement, dated 23rd February 2024, amongst TVS Mobility, Mitsubishi and TVS VMS ( Auto Retail SSA ).
Issues for consideration
2 issues framed by the court
Whether the proposed acquisition of equity stakes in TVS Certified and TVS VMS by Mitsubishi Corporation is likely to cause appreciable adverse effect on competition in India.
Whether the vertical linkages between the acquirer and sellers in the automobile dealership market warrant blocking of the combination.
Parties & counsel
- petitioner
Competition Commission of India
- respondent
Mitsubishi Corporation
Coram
Ravneet Kaur
Case details
As recorded by the court registry
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