Latest News | CCI Gives Nod for Internal Reorganisation of Kalyani Group

New Delhi, Jan 19 (PTI) The Competition Commission of India on Thursday said it has given green light to the internal reorganisation of Kalyani Group's companies.

The deal has been cleared under the green channel route.

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Under this framework, a transaction which does not raise any risk of an appreciable adverse effect on competition is deemed to be approved on being intimated to the fair trade regulator.

The present transaction involves an internal re-organisation of nine entities of Kalyani Group pursuant to a scheme of amalgamation and arrangement entered between these entities, as per the notice filed with the anti-trust regulator.

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The proposed combination is being undertaken with the aim to simplify the corporate holding structure of the company, CCI said.

In a release, the fair-trade regulator said the proposed combination is being notified under the green channel route.

"The proposed combination is effectively an internal restructuring and hence does not result in any horizontal, vertical, or complementary overlaps. The ownership and control of all the entities involved in the proposed combination remains unchanged both pre and post internal re-organisation," CCI said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)