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...