Mahindra and Mahindra Limited
Case brief
What is this about?
The Competition Commission of India approved a proposed combination where Mahindra and Mahindra Limited would acquire a significant shareholding in SML Isuzu Limited. The Commission found that despite market overlaps in the commercial vehicle sector, the combination is unlikely to cause appreciable adverse effect on competition due to low market shares and robust competitive pressures.
What did the court decide?
The Proposed Combination is approved as it is not likely to have an appreciable adverse effect on competition in India.
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–2025/05/1281)
17th June 2025
Notice under Section 6(2) of the Competition Act, 2002 given by Mahindra and Mahindra Limited
CORAM:
Ms. Ravneet Kaur Chairperson Mr. Anil Agrawal Member
Ms. Sweta Kakkad Member
Order under Section 31(1) of the Competition Act, 2002
- On 5th May 2025, the Competition Commission of India (Commission) received a notice filed by the Mahindra and Mahindra Limited (Acquirer/M&M) under Section 6(2) of the Competition Act, 2002 (Act) .
- The Proposed Combination envisages the acquisition of up to 84.96% shareholding by the Acquirer in the SML Isuzu Limited ( Target/SMLI ) through the following steps:
- i. Acquisition of 43.96% shareholding of Target from Sumitomo Corporation ( Sumitomo/Seller I ), a public listed Japanese Company and also a promoter of the Target.
Issues for consideration
2 issues framed by the court
Whether the proposed acquisition of shareholding by Mahindra and Mahindra Limited in SML Isuzu Limited is likely to cause appreciable adverse effect on competition.
Whether potential horizontal, vertical, or complementary linkages in the combination raise concerns regarding foreclosure of competition.
Parties & counsel
- applicant
Competition Commission of India
- applicant
Mahindra and Mahindra Limited
Coram
Ravneet Kaur
Case details
As recorded by the court registry
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