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CCI Receives First Green Channel Combination

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CCI Receives First Green Channel Combination
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The Competition Commission of India (CCI) received the first green channel combination filed under sub-section (2) of Section 6 of the Competition Act, 2002 (Act) read with regulations 5 and 5A of the Competition Commission of India (Procedure in regard to the transactions of business relating to combinations) Regulations, 2011 (Combination Regulations), 3rd October, 2019.

The notification relates to the acquisition of the Essel Mutual Fund (Essel MF), a mutual fund registered under the SEBI (Mutual Funds) Regulations, 1996 (MF Regulations) by an entity forming a part of the Sachin Bansal Group.

The Proposed Combination filed in terms of Regulation 5A of the Combination Regulations (i.e. notice for approval of Combinations under Green Channel) shall be deemed to have been approved upon filing and acknowledgement thereof.

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