The Competition Commission of India (CCI) has granted approval to several combinations, including the Sajjan Jindal-promoted JSW Group’s proposed acquisition of up to 38 per cent stake in MG Motor India.
This stake buy is through JSW Ventures Singapore, a newly incorporated entity and a wholly-owned subsidiary of JSW International Tradecorp Pte Ltd, and belongs to JSW Group.
The competition watchdog has also approved, in a separate proposal, the acquisition of Wistron Infocomm Manufacturing (India) Pvt Ltd by Tata Electronics.
CCI has also approved the proposal involving Burman Family entities’ acquisition of shareholding in Religare Enterprises by Puran Associates, M.B Finmart, VIC Enterprises & Milky Investment. This approval is without prejudice to proceedings that may be initiated u/s 43A, 44 and/or 45 of the Competition Act 2002, CCI said in a post in social media platform ‘X’, formerly Twitter.
CCI has also approved the merger of Fincare Small Finance Bank Limited and AU Small Finance Bank, with the latter being the surviving entity.