M/s Rane Holdings Limited
Case brief
What is this about?
The Competition Commission approved Rane Holdings Limited's proposed acquisition of 51% equity in Rane NSK Steering Systems Private Limited, marking a shift from joint to sole control. The Commission found no change in market dynamics and no appreciable adverse effect on competition.
What did the court decide?
Approval of the Proposed Combination of Rane Holdings Limited acquiring 51% equity in Rane NSK Steering Systems Private Limited.
What the court decided
COMPETITION COMMISSION OF INDIA
Combination Registration No. C-2024/07/1167
3rd September 2024
Notice under Section 6(2) of the Competition Act, 2002 given by Rane Holdings Limited.
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 11th July 2024, the Competition Commission of India ( Commission ) received a notice ( Notice ) under Section 6(2) of the Competition Act, 2002 ( Act ), given by Rane Holdings Limited ( RHL / Acquirer ).
- The Notice was filed pursuant to the Share Purchase Agreement ( SPA ) between NSK Limited (Japan) ( NSK / Seller ), (ii) RHL, and (iii) Rane NSK Steering Systems Private Limited ( RNSSPL / Target ), executed on 1st July 2024, and the License and Technical Assistance Agreement.
Issues for consideration
3 issues framed by the court
Whether the proposed acquisition of joint venture shares constitutes an appreciable adverse effect on competition under Section 2(1)(c) of the Act.
Whether the joint-to-sole control of Rane NSK Steering Systems Private Limited is unlikely to have an appreciable adverse effect on competition in India.
Whether the Proposed Combination satisfies the criteria for approval under Section 31(1) of the Act.
Parties & counsel
- other
Competition Commission of India
- applicant
Rane Holdings Limited
- other
NSK Limited (Japan)
- other
Rane NSK Steering Systems Private Limited
Coram
Case details
As recorded by the court registry
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