Central Bank of India
Case brief
What is this about?
The Competition Commission of India examined a notice regarding the proposed acquisition of equity stakes in Future Generali India Insurance and Life Insurance companies by Central Bank of India under the Corporate Insolvency Resolution Process.
What did the court decide?
The proposed combination is approved under Section 31(1) of the Act.
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-2024/08/1180
15th October 2024
Notice under Section 6(2) of the Competition Act, 2002 given by Central Bank of India
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 28th August 2024, the Competition Commission of India ( Commission ) received a notice ( Notice ) under sub-section (2) of Section 6 of the Competition Act, 2002 ( Act ) given by Central Bank of India ( A cquirer ). The Notice was given pursuant to inter alia Revised Bid dated 3rd May 2024 of the Acquirer to acquire Cluster I assets of Future Enterprises Limited ( FEL ) under the Corporate Insolvency Resolution Process.
Issues for consideration
2 issues framed by the court
Whether the proposed combination involving acquisition of equity stakes in insurance entities by a public sector bank is likely to cause an appreciable adverse effect on competition.
Whether the proposed combination satisfies the assessment factors under Section 20(4) of the Competition Act, 2002.
Parties & counsel
- petitioner
Competition Commission of India
- respondent
Central Bank of India
Coram
Ravneet Kaur
Case details
As recorded by the court registry
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