CCI Clears Proposed Minority Stake Acquisition in Snack Major Haldiram by L Catterton India Fund

The Competition Commission of India (CCI) has approved the proposed acquisition of a minority shareholding, on a fully diluted basis, in Haldiram Snacks Food Private Limited by L Catterton India Fund. The proposed combination involves L Catterton India Fund acquiring a non-controlling stake in Haldiram Snacks Food. The acquirer is a scheme of L Catterton India Trust, a Category II alternative investment fund registered with the Securities and Exchange Board of India, and is engaged in...

CCI Orders Investigation Into IndiGo Over Alleged Abuse of Dominance After Mass Flight Cancellations

The Competition Commission of India (CCI) on Wednesday ordered an investigation into InterGlobe Aviation Ltd., which operates IndiGo, after forming a prima facie view that the airline may have abused its dominant position by cancelling a large number of flights in early December 2025 and leaving passengers to book tickets at sharply higher fares. The order was passed by a coram comprising Chairperson Ravneet Kaur and Members Anil Agrawal, Sweta Kakkad, and Deepak Anurag. At the threshold, the...

CCI Approves Tata Steel's Acquisition Of 50.01% Stake In Thriveni Pellets

The Competition Commission of India (CCI) has approved Tata Steel Limited's acquisition of 50.01% equity share capital in Thriveni Pellets Private Limited, holding that the transaction does not raise any appreciable adverse effect on competition in India, despite a limited horizontal overlap in the iron ore pellet market. The clearance allows Tata Steel to acquire a majority stake in Thriveni Pellets from Thriveni Earthmovers Private Limited. The transaction was notified under the...

CCI Approves Elliott-Managed Funds' Proposed Stake Purchase In Toyota Industries

The Competition Commission of India (CCI) has approved a proposal involving the acquisition of equity shares and voting rights in Toyota Industries Corporation by funds managed by US-based Elliott Investment Management. Under the approval, Elliott Associates L.P., Elliott International L.P. and The Liverpool Limited Partnership will acquire shares of Toyota Industries through on-market purchases on the Tokyo Stock Exchange and the Nagoya Stock Exchange. As the transaction involves the...

CCI Approves Combination Involving Bhushan Power, JSW entities And JFE Steel

The Competition Commission of India (CCI) on January 20 approved a proposed combination involving Bhushan Power and Steel Ltd, JSW Sambalpur Steel Ltd, JFE Steel Corporation and JSW Kalinga Steel Ltd. The approval relates to a multi-step transaction involving the transfer of Bhushan Power and Steel's steel business undertaking, and not the company itself, as well as the acquisition of a stake by a foreign partner. As part of the approved transaction, Bhushan Power and Steel's steel business...

CCI Imposes ₹40 Lakh Penalty On Goldman Sachs For Failure To Notify Investment In Biocon Biologics U/S 6(2) Of Competition Act

The Competition Commission of India (CCI) has penalized Goldman Sachs INR 40 lakh under Section 43A of the Competition Act, 2002, for failing to notify its investment in Biocon Biologics Limited.Background FactsGoldman Sachs AIF Scheme-1 (GS AIF) executed a Securities Subscription Agreement and a Shareholders Agreement (SHA) on 7.11.2020, and closed the transaction on 9.12.2020. Under the SHA, GS AIF gained Reserved Matter Rights, Information Rights and Access Rights. GS AIF is an investment...