Monday, May 16

Tag: Public Announcements

MCA, Regulatory

CCI approves merger of Tech Data Corporation with SYNNEX Corporation

The Competition Commission of India (CCI) approves merger of Tech Data Corporation (Tech Data) with SYNNEX Corporation (SYNNEX) under Section 31(1) of the Competition Act, 2002, yesterday. The Proposed Combination is a merger within the meaning of Section 5(c) of the Competition Act, 2002. It will be effected through the following steps: Merger of Sub I with and into Tiger Parent, with Tiger Parent being the surviving entity; Merger of Tiger Parent with and into Sub II, with Sub II being the surviving entity and remaining as a direct wholly owned subsidiary of SYNNEX; and Upon steps (i) and (ii) of the transaction coming into effect, and in consideration of the shares of common stock of Tiger Parent held by Tiger Holdings, SYNNEX will issue approximately 45% shares of its comm...
IBBI

IBBI Update | 29 Jun 2021

Public Announcements 2021-06-11 Public Announcement of Liquidation Process-ISR Infra Private Limited ( U45209AP2010PTC070675 )2021-05-03 Public Announcement of Liquidation Process-Briar Knoll Mills Private Limited ( U17100TN2012PTC111651 )2021-06-22 Public Announcement of Voluntary Liquidation Process-TERADYNE (INDIA) ENGINEERING PRIVATE LIMITED ( U74200TN2007PTC063795 )2021-06-13 Public Announcement of Corporate Insolvency Resolution Process-UCAL Auto Private limited ( U35911TN1999PTC042573 )2021-06-14 Public Announcement of Voluntary Liquidation Process-BSE Sammaan CSR Limited ( U74999MH2015PLC268298 )2021-03-31 Public Announcement of Liquidation Process-Dhanashri Tooling Systems Private Limited ( U28930MH2005PTC158239 ) Invitation of Resolution Plans 2021-06-25 Invitation of R...
MCA, Regulatory

CCI approves acquisition of Zuarinagar plant of Zuari Agro Chemicals Limited by Paradeep Phosphates Limited

The Competition Commission of India (CCI) approves acquisition of the Zuarinagar plant of Zuari Agro Chemicals Limited (CIN: L65910GA2009PLC006177) by Paradeep Phosphates Limited (CIN: U24129OR1981PLC001020). The proposed combination envisages acquisition of Zuarinagar, Goa plant of Zuari Agro Chemicals Limited (CIN: L65910GA2009PLC006177) (ZACL) by Paradeep Phosphates Limited (CIN: U24129OR1981PLC001020) (PPL). As a result of the acquisition, PPL shall acquire business of developing and manufacturing urea and non-urea fertiliser products presently being carried out by ZACL at the Zuarinagar, Goa Plant PPL, part of the Adventz Group, is engaged mainly in the manufacture and sale of non-Urea fertilizers, namely, di-ammonium phosphate (DAP) and NPK fertilizers. It also imports and ...
MCA, Regulatory

CCI approves acquisition of additional equity shareholding by Heineken International B.V. of United Breweries Limited

The Competition Commission of India (CCI) approves acquisition of additional equity shareholding by Heineken International B.V. (“HIBV”) of United Breweries Limited (CIN: L36999KA1999PLC025195) (“UBL”)under Section 31(1) of the Competition Act, 2002, yesterday. The proposed transaction relates to HIBV’s potential acquisition of additional equity stake up to a maximum of approximately 16.40 percent shareholding in UBL. HIBV is an investment holding company and is itself not engaged in any business activity. It is a direct/ indirect shareholder for all non-Dutch companies that form part of the Heineken Group. Heineken Group is an international group of companies engaged in the production, manufacture, packaging, distribution, marketing and sale of beer, non-alcoholic beer, cider and c...
MCA, Regulatory

CCI approves acquisition in Magma HDI General Insurance Company Limited by India Advantage Fund S4 I & Dynamic India Fund S4 US I through a special purpose vehicle and by NHPEA Trisul Holding B.V

The Competition Commission of India (CCI) approves acquisition in Magma HDI General Insurance Company Limited (Magma HDI) by India Advantage Fund S4 I (IAF S4 I) & Dynamic India Fund S4 US I (DIF) through a special purpose vehicle and by NHPEA Trisul Holding B.V (NTH). The following Proposed Combination involving an acquisition of is approved by CCI: an effective combined interest of less than 25% (on a fully diluted basis) of the share capital of Magma HDI by IAF S4 I and DIF, acting through a special purpose vehicle (SPV-I) (IAF/DIF Transaction); and an effective combined interest of less than 10% (on a fully diluted basis) of the share capital of Magma HDI by NTH (NTH Transaction). The IAF/DIF Transaction and the NTH Transaction are collectively referred to as the ‘Prop...
MCA, Regulatory

CCI approves acquisition by BCP Topco IX Pte. Ltd. (BCP Topco), Waverly Pte Ltd. (GIC Investor) and Platinum Owl C 2018 RSC Limited (ADIA Investor) of Mphasis Limited

The Competition Commission of India (CCI) approves acquisition by BCP Topco IX Pte. Ltd.(BCP Topco), Waverly Pte Ltd. (GIC Investor) and Platinum Owl C 2018 RSC Limited(ADIA Investor)(‘Acquirers’) of Mphasis Limited (CIN: L30007KA1992PLC025294) (‘Target’) under Section 31(1) of the Competition Act, 2002, today. The proposed transaction pertains to the acquisition of up to 75% shareholding in the Target by BCP Topco through a series of inter-connected transactions. BCP Topco is a private limited company, incorporated under the laws of Singapore. It has not been engaged in providing any products / services and / or performing the business of investment holding in India or worldwide, since its incorporation. GIC Investor is a special purpose vehicle organised as a private limited co...
MCA, Regulatory

CCI approves exchange of equity shareholding by existing shareholders of ReNew Power with shares of ReNew Global, along with a reverse triangular merger of subsidiary of ReNew Global with RMG II

The Competition Commission of India (CCI) approves exchange of equity shareholding by existing shareholders of ReNew Power with shares of ReNew Global, along with a reverse triangular merger of subsidiary of ReNew Global with RMG II. The proposed combination envisages exchange of equity shareholding by existing shareholders of ReNew Power Private Limited (ReNew Power) with shares of ReNew Energy Global Limited (ReNew Global), along with a reverse triangular merger of wholly owned subsidiary of ReNew Global with RMG Acquisition Corporation II (RMG II). ReNew Global is a newly incorporated special purpose acquisition company. It was incorporated for the purpose of effecting a merger, stock purchase or a similar business combination, such as the Proposed Combination. RMG II is traded o...
MCA, Regulatory

CCI approves acquisition of 51% of the equity share capital in each of the three Electricity Supply Companies of Odisha by Tata Power Company Limited

The Competition Commission of India (CCI) approves acquisition of 51% of the equity share capital in each of the three Electricity Supply Companies of Odisha. viz Western Electricity Supply Company of Odisha (“WESCO Utility”), Southern Electricity Supply Company of Odisha Limited (CIN: U40109OR1997PLC005107) (“SOUTHCO Utility”) and Central Electricity Supply Company of Odisha Limited (CIN: U40109OR1997PLC005105)(“CESCO Utility”)  by The Tata Power Company Limited (CIN: L28920MH1919PLC000567) (“TPCL”) under Section 31(1) of the Competition Act, 2002, today. Proposed combinations relate to acquisition of 51% of equity share capital in each utility by the TPCL from Grid Corporation of Odisha Limited (“GRIDCO”)pursuant to separate competitive bidding processes initiated by the Odisha Elect...
MCA, Regulatory

CCI approves proposed combination relating to Think & Learn Private Limited (BYJU’S) acquisition of certain stake of Aakash Educational Services Limited (AESL) and thereafter merger of BYJU’s and AESL

The Competition Commission of India (CCI) approves the proposed combination relating to Think & Learn Private Limited (CIN: U80903KA2011PTC061427) (BYJU’S) acquisition of certain stake of Aakash Educational Services Limited (CIN: U80300DL2007PLC169398) (AESL) and thereafter merger of BYJU’s and AESL under Section 31(1) of the Competition Act, 2002, today. The proposed combination will result in merger of AESL into BYJU’S, as a consequence of which, BYJU’S will be the surviving entity. As such, BYJU’S shall effectively acquire complete and sole control over AESL. BYJU’S is a private limited company incorporated in India. BYJU’S, directly and through its subsidiaries, provides online educational services. It offers a technology-based education platform for primary and secondary s...
MCA, Regulatory

National Financial Reporting Authority seeks comments/suggestions from public and stakeholders on consultation paper on NFRA’s engagement with its stakeholders

National Financial Reporting Authority (NFRA) has set up a Technical Advisory Committee (TAC) to, inter alia, provide NFRA with inputs from the perspective of various key stakeholders. The TAC has undertaken a consultative exercise to review NFRA’s engagement with its stakeholders, and has, in its report of March, 2021, recommended ways to enhance the same. Important recommendations of the TAC relate to formation of advisory/consulting groups, institution of fellowship programmes, publication of NFRA’s Inspection Policy, and building up of NFRA’s Regulatory Capacity. NFRA acknowledges the valuable contribution of the TAC in this regard. NFRA has now prepared and published a Consultation Paper (available at https://www.nfra.gov.in/consultation_papers), incorporating its preliminary view...