The Indian Competition Authority clears a merger between silk and polyester manufacturers (Garden Silk Mills / MCPI Polyester)

MCPI Pvt. Ltd. (“MCPI”) is part of The Chatterjee Group (“CG”) and is engaged in the business of manufacturing and supply of Purified Terephthalic Acid (“PTA”). MCPI has a wholly owned subsidiary, MCPI Polyester Pvt. Ltd. (“MCPI Polyester”), a newly incorporated entity which currently does not have any business operations within or