The Indian Competition Authority notices parties to furnish material information or face penalty (Sumitomo)

Chhabra, Gauri; Nathani, Suhail

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16 Jul 2015

The Indian Competition Authority notices parties to furnish material information or face penalty (Sumitomo)

KEYWORDS

References

Indian Competition Authority, Sumitomo, No. C-2014/12/235, 26 February 2015

Indian Competition Authority, Sumitomo, C-2014/12/235, 16 July 2015

Introduction A notice was filed by Sumitomo Mitsui Trust Bank Limited (“Sumitomo”) in relation to its acquisition of 2.77% in Reliance Capital Limited (“RCL”), through share subscription. Although the acquisition was for less than 25% and did not entail control, it required a filing with the Competition Commission of India (“CCI”), since it was a strategic alliance entered between the parties for establishing a universal bank and as such could not avail of the Item 1 Exemption [1]. Competition

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Authors

Gauri Chhabra
Shardul Amarchand Mangaldas (Mumbai)

India 70 contributions 18805 visits
Suhail Nathani
Economic Laws Practice (Mumbai)

India 12 contributions 2771 visits

Quotation

Gauri Chhabra, Suhail Nathani, The Indian Competition Authority notices parties to furnish material information or face penalty (Sumitomo), 16 July 2015, e-Competitions July 2015, Art. N° 77386

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