Shinhan Bank Co., Ltd.
Case brief
What is this about?
The Commission approved a proposed stake acquisition by Shinhan Bank in HDFC Credila. Analyzing the transaction under Section 6(2), the Bench held that despite horizontal overlaps, the deal would not cause an appreciable adverse effect on competition.
What did the court decide?
The Commission approved the Proposed Combination under Section 31(1) of the Competition Act, 2002.
What the court decided
COMPETITION COMMISSION OF INDIA
Combination Registration No.C-2024/04/1135
28th May 2024
Notice under Section 6(2) of the Competition Act, 2002 filed by Shinhan Bank Co., Ltd.
CORAM:
Ms. Ravneet Kaur Chairperson
Mr. Anil Agrawal Member
Ms. Sweta Kakkad
Member
Order under Section 31(1) of the Competition Act, 2002
- On 16th April 2024, the Competition Commission of India ( Commission ) received a notice under sub-section (2) of Section 6 of the Competition Act, 2002 ( Act ) filed by Shinhan Bank Co., Ltd. ( Shinhan Bank/Acquirer ) for the proposed acquisition of stake in HDFC Credila Financial Services Limited ( HDFC Credila/Target) [Hereinafter, the Acquirer and Target Entities are collectively referred to as ‘ Parties ’].
Issues for consideration
2 issues framed by the court
whether the proposed acquisition of 10.94% stake in HDFC Credila by Shinhan Bank is likely to cause an appreciable adverse effect on competition in India.
whether the Commission should approve the Proposed Combination pursuant to Section 31(1) of the Competition Act, 2002.
Parties & counsel
- applicant
Shinhan Bank Co., Ltd.
Coram
Ravneet Kaur
Anil Agrawal
Sweta Kakkad
Case details
As recorded by the court registry
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