On May 27, 2025, Competition Commission of India (CCI), Ministry of Corporate Affairs (MCA) approved the following proposals:
i.Approved the proposed combination involving JTPL, SCRTIPL, Solv-India, SCV-Master, Artal Asia and founders of JTPL.
ii.Approved the proposed acquisition of 100% shareholding of Dowlais Group plc by American Axle & Manufacturing Holdings, Inc.
iii.Approved the merger and demerger involving RPAL, MPPL, JKMPTL, and JKMGAL
CCI Approved the proposed combination involving JTPL, SCRTIPL, Solv-India, SCV-Master and Artal Asia:
i.CCI has approved the proposal of acquisition of 100% shareholding in Bengaluru (Karnataka) based Standard Chartered Research and Technology India Private Limited (SCRTIPL) (Target) by Bengaluru based Jumbotail Technologies Private Limited (JTPL) (Acquirer).
- JTPL, an online marketplace, facilitating the wholesale and distribution of products; and providing certain ancillary services to the sellers and buyers of the products on its platform.
ii.CCI has approved the issuance of certain shares of JTPL (Target) to London, United Kingdom (UK) based SC Ventures Holdings Limited (SC Ventures), and Bengaluru based Solv-India Private Limited (Acquirers).
- Solv, a Business to Business (B2B) Electronic (e)- commerce platform, backed by SCRTIPL, facilitating Micro, Small, and Medium Enterprises (MSMEs) to sell their products to retailers and other businesses; and provides ancillary services such as payment collection and credit solutions to the users of its platform ‘Solv’.
- SC Ventures does not have any business activity in India and is present only through its indirect subsidiaries in relation to the online B2B business and other businesses.
iii.CCI has approved the subscription of certain shares in JTPL (Target) by Singapore-based SCV Master Holding Company Private Limited (SCV Master) and Singapore-based Artal Asia Private Limited (Artal Asia) (Acquirers).
- SCV Master as an entity does not have any direct business activity in India and is only present through its direct and indirect subsidiaries in relation to the online B2B business and other businesses.
- Artal Asia invests in large-stage companies in e-commerce, food and beverage and grocery industries, and has an indirect business presence in India through its affiliate entities including JTPL.
iv.CCI has approved the subscription of certain shares in JTPL (Target) by Artal Asia and Founders, who have agreed to backstop the investment obligations of certain other entities.
CCI Approved acquisition of 100% shareholding of Dowlais Group plc by American Axle & Manufacturing Holdings, Inc.:
CCI has approved the proposal of acquisition of 100% shareholding of London, UK based Dowlais Group plc (Target) by Michigan, United States of America (USA) based American Axle & Manufacturing Holdings, Inc (Acquirer).
- Through this acquisition, American Axle will have sole control of Dowlais Group plc.
Key Details:
i.American Axle and Manufacturing Holdings, Inc. is a company listed in the New York Stock Exchange (NYSE) and is the Ultimate Parent Entity (UPE) of the AAM Group.
- Globally, the AAM Group is engaged in the design, engineering, and manufacture of drive transmission components and metal forming technologies to support electric, hybrid and internal combustion vehicles.
- In India, AAM Group is engaged in the supply of drive transmission components and metal automotive components.
iii.Dowlais Group is a company listed on the London Stock Exchange (LSE) and is the UPE of the Dowlais Group.
- Globally, the Dowlais Group is engaged in the development of driveline products, production of sintered metal products for the automotive and industrial sectors, manufacture of atomized metal powders and products manufactured using additive manufacturing processes.
- In India, the Dowlais Group is engaged in the supply of drive transmission components and metal automotive components.
CCI Approved the merger and demerger involving RPAL, MPPL, JKMPTL, JKMGAL:
i.CCI has approved the merger of Thane (Maharashtra) based Ring Plus Aqua Limited (RPAL) and Bengaluru based Maini Precision Products Limited (MPPL) into Thane based JK Maini Precision Technologies Limited (JKMPTL).
- RPAL is engaged in manufacturing and exporting ring gears, flex plates, and water pump bearings.
- MPPL is engaged in manufacturing precision products for different industries and manufacturing products based on the design requirements of its customers.
ii.CCI has also approved the demerger of the aerospace business of JKMPTL into Thane based JK Maini Global Aerospace Limited (JKMGAL).
- Both JKMPTL and JKMGAL does not have any operations currently.
About Competition Commission of India (CCI):
Chairperson – Ravneet Kaur
Headquarters – New Delhi, Delhi
Founded – 2003
