The Competition Commission of India (CCI) approves the acquisition of less than 5% shareholding in Intas Pharmaceuticals Limited by Canary Investments Limited and Link Investment Trust II, under Section 31(1) of the Competition Act, 2002.
- In this regard, less than 5% shareholding of Intas Pharmaceuticals Limited (Intas) will be acquired by Canary Investments Limited (Canary) and Link Investment Trust II (Link II).
Canary is an investment company registered in Mauritius.
About Link II:
Link II is a private trust created and registered under the laws of India.
Intas is a public limited company incorporated and registered under the laws of India.
About Section 31(1) of the Competition Act, 2002
Section 31 of the Competition Act, 2002 states orders of Commission on certain combinations.
- While Section 31(1) states if the Commission is of the opinion that any combination does not, or is not likely to, have an appreciable adverse effect on competition, it shall, by order, approve that combination.
About Competition Act, 2002
The Competition Act, 2002 was introduced by Late Arun Jaitley and enacted by the Parliament of India in 2003. It replaced the archaic The Monopolies and Restrictive Trade Practices Act, 1969. The Competition Act, 2002 was amended by the Competition (Amendment) Act, 2007 and again by the Competition (Amendment) Act, 2009.