Kotak Mahindra Bank Limited
Case brief
What is this about?
The Competition Commission of India approved the proposed combination of Kotak Mahindra Bank's acquisition of Standard Chartered Bank's standard unsecured personal loan portfolio. The Commission concluded the combination would not have an appreciable adverse effect on competition.
What did the court decide?
Proposed combination approved; order may be revoked if information is found to be incorrect.
What the court decided
COMPETITION COMMISSION OF INDIA Combination Registration No.C-2024/10/1199
26th November 2024
Notice under Section 6(2) of the Competition Act, 2002 filed by Kotak Mahindra Bank 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 25th October 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 Kotak Mahindra Bank Limited (Acquirer ) in relation to the acquisition of the entire standard unsecured personal loans portfolio in India of Standard Chartered Bank, India Branch ( Target Business ) pursuant to the Deed of Assignment dated 18th October 2024 entered into between the Acquirer and Standard Chartered Bank, India Branch ( Transferor ).
- The proposed combination involves the acquisition by the Acquirer of the Target Business from the Transferor (Proposed Combination) . The Proposed Combination
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Issues for consideration
3 issues framed by the court
Whether the proposed acquisition of unsecured personal loan portfolio between Kotak Mahindra Bank and Standard Chartered Bank attracts anti-competitive consequences.
Whether the combination is likely to have an appreciable adverse effect on competition in the relevant market of providing loans and lending services.
Whether the combination meets the threshold for approval under Section 31(1) of the Competition Act, 2002.
Parties & counsel
- applicant
Competition Commission of India
Coram
Ravneet Kaur
Anil Agrawal
Sweta Kakkad
Case details
As recorded by the court registry
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