The Competition Commission of India (CCI) issued a final order under Section 27 against four trade associations: Maharashtra Wine Merchants Association (OP-1), Pune District Wine Merchants Association (OP-2), Association of Progressive Liquor Vendors (OP-3), and Pimpri Chinchwad Liquor Dealers Association (OP-4). The case originated from an information filed by an Alcobev manufacturer alleging that the associations operated a cartel to fix commercial terms for the sale and distribution of alcoholic beverages. The investigation revealed that the associations compelled manufacturers to obtain 'Letters of Introduction' (LOIs) or No-Objection Certificates (NOCs) as a prerequisite for launching new products. Through these LOIs, the associations unilaterally fixed retail margins (standardized at 12%), cash discounts, launching fees, and credit periods, while threatening collective boycotts against non-compliant manufacturers. The Commission found that OP-1, OP-2, and OP-3 violated Section 3(3)(a) by fixing prices and Section 3(3)(b) by controlling supply and market access. OP-4 was found to be defunct, and proceedings against it were closed. While the Commission established the violations and issued a cease-and-desist order, it refrained from imposing monetary penalties on the associations or their office bearers, citing mitigating factors such as first-time offenses and the non-commercial nature of the entities.
Curefit Healthcare Private Limited, Cultfit Healthcare Private Limited, Curefit Services Private Limited, and Fitness First Luxembourg S.C.A. have filed a notice regarding a proposed multi-step internal restructuring. The transaction involves: (i) the demerger of membership servicing businesses (CultPass Elite and CultPass Pro) from Cultfit into Curefit Healthcare; (ii) the demerger of subscription businesses from Curefit Services into Curefit Healthcare; (iii) the merger of the residual business of Curefit Services into the residual business of Cultfit; and (iv) a subsequent buyback of shares in the merged residual entity. The parties submit that the transaction is an internal reorganization aimed at streamlining operations. Curefit Healthcare develops IT-enabled healthcare and fitness technologies, while its subsidiaries operate fitness centers and subscription services. The parties assert there are no horizontal or vertical overlaps in India. This document is a summary filed by the parties under Regulation 13(2); the Commission's decision is currently pending.
Avenir Investment RSC Ltd. (Acquirer), a special purpose vehicle of the International Holding Company PJSC (IHC) group, has filed a notification for the acquisition of certain shares in Sammaan Capital Limited (Target). Sammaan Capital is a registered non-banking financial company (NBFC) that provides retail loans (for construction and renovation), wholesale loans to corporates, and MSME lending services. The parties have identified horizontal overlaps in the Indian markets for lending services, retail loans, MSME loans, and loans against property. A vertical relationship was also noted between the upstream lending market and downstream distribution services. The parties assert that the transaction will not result in any change to the competitive landscape or cause an appreciable adverse effect on competition. As this is a Regulation 13(2) summary filed by the parties, the Commission's formal assessment and final decision are pending.
Schneider Electric SE (Acquirer) filed a notice regarding the proposed acquisition of an additional 35% stake in Schneider Electric India Private Limited (SEIPL/Target 1) and Schneider Electric JV Holdings 2 Pte. Ltd. (SEJV2/Target 2). The shares are being acquired from MacRitchie Investments Pte. Ltd. Currently, Schneider Electric SE holds operational and management control over the target entities; the proposed transaction would result in a transition from joint control to sole control. The parties are active in the digital transformation of energy management and automation, specifically in power management systems including medium voltage (MV) and low voltage (LV) switchgear. The parties submit that the transaction will not impact competition dynamics as it merely increases shareholding without the exit of any competitors. The Commission's decision on the proposed combination is pending.
ICICI Prudential Asset Management Company Limited (Acquirer) has filed a notice under Regulation 13(2) regarding its proposal to acquire certain businesses from ICICI Venture Funds Management Company Limited (Seller). The transaction involves a slump sale of two primary components: (i) the Investment Management (IM) Business, which involves managing and sponsoring five identified Category II Alternative Investment Funds (AIFs) registered with SEBI; and (ii) the Advisory Business, which provides non-exclusive, non-binding investment advice to an identified offshore fund. The Acquirer, a joint venture between ICICI Bank and Prudential Corporation Holdings, is active in managing mutual funds, portfolio management, and AIFs. The target businesses are currently held by ICICI Venture. The parties submit that the transaction does not raise competition concerns in India. This document is a summary of the filing submitted by the parties for public information before the Commission's final assessment. Commission decision is currently pending.
Jindal Jhajjar Power Limited (Acquirer), a wholly-owned subsidiary of Jindal Power Limited (JPL), has filed a notice for a proposed combination involving the acquisition of 100% of the shareholding of Jhajjar Power Limited (Target). The transaction is classified as an acquisition under Section 5(a) of the Competition Act, 2002. Both the Acquirer's parent company, JPL, and the Target are primarily engaged in the business of thermal power production in India. According to the filing, the purpose of the proposed combination is to allow JPL to acquire an energy asset with a robust track record, strengthening its position in the power generation sector. The parties have identified the relevant markets as the market for power generation in India (broad level) and the market for thermal power generation in India (narrow level). The parties submit that the transaction will not result in any appreciable adverse effect on competition (AAEC) in any market in India. As this document is a summary filed under Regulation 13(2) of the CCI (Combinations) Regulations, 2024, it represents the assertions of the parties and not the findings of the Commission. The Commission's formal competitive assessment and final decision are currently pending.
Toyota Asset Preparatory Co., Ltd. (Acquirer), a special purpose vehicle and investment vehicle within the Toyota group, has filed a notice under Regulation 13(2) regarding the proposed acquisition of 100% shareholding of Toyota Industries Corporation (Target). The transaction is structured as an internal restructuring and consolidation of the Target within the Toyota group. The Acquirer will eventually be held primarily by Toyota Fudosan Co., Ltd. (TFC). In India, the Target is active in several segments including the sale and servicing of material handling equipment, the manufacture and sale of engines and transmission parts for passenger vehicles, textile machinery manufacturing, and automated logistics solutions. The parties submitted that the Proposed Combination will not lead to any change in competitive dynamics or cause an appreciable adverse effect on competition (AAEC) in India as it is a purely internal alignment. They have identified vertical linkages in the markets for engines and manual transmission parts (upstream) and the passenger vehicle market (downstream). The Commission's final assessment and decision on the combination are pending based on this filing.
Elite Pro Basketball Private Limited filed an information against the Basketball Federation of India (BFI) alleging contravention of Sections 3 and 4 of the Competition Act. The Informant proposed to launch the Elite Pro Basketball League (EPBL) and a promotional 3x3 event, but BFI allegedly withheld necessary sanctions and approvals without justification. Furthermore, BFI issued circulars warning players, coaches, and referees against participating in "unauthorized" tournaments, threatening them with stringent disciplinary actions and potential bans from national/international events. The Informant alleged that these actions constitute an abuse of BFI's dominant position as the sole National Sports Federation (NSF) for basketball in India and result in a denial of market access to rival league organizers. The Commission delineated the relevant market as the 'market for organization of basketball leagues/events/tournaments in India' and found BFI to be dominant as the de facto regulator of the sport. Upon preliminary assessment, the Commission observed that BFI's restrictive circulars and refusal to grant sanctions prima facie limit the provision of services by players and officials and exclude competitors from the market. Consequently, the Commission found a prima facie case of violation of Sections 4(2)(b)(i), 4(2)(c), 3(4)(c), and 3(4)(d) of the Act. The Director General (DG) has been directed to conduct a detailed investigation into the matter and submit a report within 60 days.
NIAV Pte. Ltd. and Montera Investments Pte. Ltd. (the Acquirers) have filed a notice under Regulation 13(2) regarding a proposed combination with InMobi Pte. Ltd. (the Target). The transaction involves the acquisition of approximately 31% of the Target's shareholding on a fully diluted basis, alongside a buyback of specific shares by the Target from its seller. The Acquirers are Singapore-based private limited companies that currently do not carry out any business operations. The Target, also incorporated in Singapore, acts as a holding company for the InMobi group. In India, the Target operates through its subsidiary, InMobi Technology Services Private Limited, which provides mobile ad network software, including in-app advertising and monetization solutions that utilize targeted data analytics. The parties have submitted the notification under the Green Channel route, asserting that there are no horizontal overlaps, vertical linkages, or complementary relationships between their activities or those of their affiliates in India. As this is a Regulation 13 summary, the Commission's assessment and final decision are pending.
NIAV Pte. Ltd. and Montera Investments Pte. Ltd. (Acquirers) filed a combination notice regarding the acquisition of approximately 31% shareholding (on a fully diluted basis) in InMobi Pte. Ltd. (Target). The transaction also involves a buyback of certain shares by the Target from the seller. The Acquirers are Singapore-based private limited companies that currently do not carry out any business operations. The Target, also incorporated in Singapore, is a holding company that operates in India through its subsidiary, InMobi Technology Services Private Limited, and its affiliate, Glance InMobi Pte. Ltd. The Target's Indian operations focus on mobile ad network software, including in-app advertising, monetization solutions, and targeted data analytics. The parties submitted the filing under the Green Channel route, asserting that their activities (including affiliates) do not exhibit any horizontal overlaps, vertical linkages, or complementary relationships in any plausible relevant market in India. The Commission acknowledged the Green Channel filing, resulting in a deemed approval of the transaction.