The Competition Commission of India (CCI) has approved internal reorganization of Bennett Coleman & Company Limited’s (BCCL) certain businesses etc. into Times Horizon Private Limited (THPL) on a going concern basis.
The proposed combination pertains to an internal reorganization of BCCL intended for demerging of certain entities, businesses, undertakings, assets and liabilities (EIBME Business) from BCCL to THPL on a going concern basis and certain other interconnected steps.
BCCL and its group entities are engaged in various businesses such as publishing of news, journals, books and other literary works across the print and digital medium, real estate classifieds, television broadcasting, digital products and services, radio entertainment, music, movies, brand capital business, events and conferences, magazines, lifestyle and entertainment businesses, education and ed-tech, fintech, gaming, and advertising.
THPL is a newly incorporated entity and does not have any business activities.
Detailed order of the Commission will follow.
CCI approves proposed Merger of Hinduja Leyland Finance into NDL Ventures
The Competition Commission of India (CCI) has approved the proposed Merger of Hinduja Leyland Finance Limited with and into NDL Ventures Limited.
The proposed combination seeks to merge and consolidate the businesses of Hinduja Leyland Finance Limited with and into NDL Ventures Limited.
NDL Ventures Limited (NDL) does not have any active business, currently.
Hinduja Leyland Finance Limited (HLFL) is an NBFC-Asset Finance Company which focuses on providing small ticket size Loans to urban and semi-urban retail customers. HLF finances a wide range of vehicles, which include Two wheelers, Three Wheelers, Medium and Heavy commercial vehicles (MHCVs), Light commercial vehicles (LCVs), Small commercial vehicles, Cars (SCVs), Multi-utility vehicles. It also provides Loan against property and home loans including affordable Housing Loans.
Detailed order of the Commission will follow.
CCI approves acquisition of portfolio management services business of Axis Securities by Axis Asset Management Company
The Competition Commission of India (CCI) has approved acquisition of portfolio management services business of Axis Securities Limited by Axis Asset Management Company Limited.
The proposed combination is in the nature of an acquisition by Axis Asset Management Company Limited (Acquirer) of the portfolio management services business of Axis Securities Limited (Transferor) in India (Target Business) from the Transferor.
The Acquirer manages a mutual fund business and is also engaged in the business of provision of portfolio management services. The Acquirer has also established and manages alternative investment funds comprising of multiple strategies across Category II and Category III Alternative Investment Funds.
The Target Business comprises of the portfolio management services business of the Transferor in India.
Detailed order of the Commission will follow.
