360 One Private Equity Fund
Case brief
What is this about?
The Competition Commission of India approved a proposed combination involving the acquisition of 4.12% shareholding in VHFCL by 360 ONE. The Commission found the market shares low and concluded there would be no appreciable adverse effect on competition regardless of the relevant market delineation.
What did the court decide?
The Proposed Combination is approved under the provisions of Section 31(1) of the Act.
What the court decided
COMPETITION COMMISSION OF INDIA
Combination Registration No.C-2024/06/1165
6th August 2024
Notice under Section 6(2) of the Competition Act, 2002 filed by 360 ONE Private Equity Fund
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 27th June 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 360 ONE Private Equity Fund ( 360 Fund ), through its schemes or affiliates, acting through its Investment Manager, 360 ONE Alternates Asset Management Limited ( AAML ) (360 Fund and AAML collectively referred to as 360 ONE / Acquirer ) in relation to the proposed acquisition of equity shares in Vastu Housing Finance Corporation Limited ( VHFCL/ Target ) [Hereinafter, the Acquirer and the Target are collectively referred to as the “ Parties ”].
Issues for consideration
2 issues framed by the court
Whether the proposed acquisition of equity shares by 360 ONE in VHFCL is likely to cause appreciable adverse effect on competition.
Whether the Proposed Combination requires approval or is notifiable under the Competition Act, 2002.
Parties & counsel
- applicant
360 ONE Private Equity Fund
Coram
Ravneet Kaur
Anil Agrawal
Sweta Kakkad
Case details
As recorded by the court registry
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