Centre issues Model Rules to States to aid Ease of Doing Business in Agroforestry (See 'Corp Brief') We have to make cycling trend in this modern generation: Mandaviya (See 'Corp Brief') Sonowal hails Brahma Kumaris for 50 years of spiritual service and human upliftment (See 'Corp Brief') CEA organises All-India Electrical Safety awareness programme (See 'Corp Brief') Arbitration & Conciliation Act - Commercial Court not justified in refusing to release 25% of arbitral award to petitioner-company solely due to its change of name: HC (See 'Legal Desk') SEBI - Delay in filing appeal not condonable where facts reflect that appellant was clearly aware of proceedings commenced by SEBI but did not prosecute appeal: SAT (See 'Legal Desk') India sends 1st consignment of rose-scented Litchi from Pathankot to Qatar (See 'Corp Brief') Govt approves ESI Amnesty Scheme - 2025 to reduce litigation (See 'Corp Brief') Sonowal inaugurates India's First Maritime NBFC - Sagarmala Finance Corporation Limited (See 'Corp Brief') NeGD launches 'AI in Governance' Training Program for Govt Officials at IIT Delhi (See 'Corp Brief') ECI starts proceedings to delist 345 RUPPs to begin with (See 'Corp Brief') Negotiable Instruments Act - as is trite law, a legal notice must be read as a whole & isolated errors such as typographical mistakes should not invalidate the entire notice: HC (See 'Legal Desk') Mega Infra Projects in Jharkhand, Sikkim, Assam & Arunachal Pradesh reviewed (See 'Corp Brief') President of India to preside over 'MSME Day' (See 'Corp Brief') NMDC invites applications for fully sponsored Education Programs for Tribal Youth (See 'Corp Brief') PMLA - Attachment of property does not effect or transfer title, unless property is confiscated and it can be when accused is convicted: SAFEMA (See 'Legal Desk') Workshop with FinTech Companies on expanding FASTag ecosystem (See 'Corp Brief') Bid submission timeline extended for SECI's Green Ammonia tender (See 'Corp Brief') Axiom-4 Marks Realisation of Vikram Sarabhai's dream: MoS (See 'Corp Brief') IBC - Dues of State is entitled to be treated as secured creditor u/s 53 of IBC: NCLAT (See 'Legal Desk') ECI to begin Special Intensive Revision of Electoral Rolls in Bihar (See 'Corp Brief') MoS calls for closer collaboration among IITs, IIMs, AIIMS, IIMC & CSIR (See 'Corp Brief') 7th Helicopter & Small Aircraft Summit held in Pune (See 'Corp Brief') CCI approves acquisition of shares in Aakash Educational by Manipal Health Systems (See 'Corp Brief') IPR - Merely adding mandarin character can't add any distinctiveness for being granted registration, and that too qua pharmaceutical product, if said character can't be deciphered by general public: HC (See 'Legal Desk') CCI approves acquisition in Manappuram Finance & Manappuram Asset Finance by Bain Capital (See 'Corp Brief') CCI okays acquisition of equity of Haldiram Snacks by Alpha Wave Ventures (See 'Corp Brief') Amended BharatNet Program operationalises in Gujarat (See 'Corp Brief') PMLA - Enforcement Directorate must pass orders under of retention under section 20(1) and 21(1) of the PMLA in respect of seized property and seized records: SAFEMA (See 'Legal Desk') Sonowal calls for Sports Resurgence in Assam (See 'Corp Brief') Vanijya Bhawan is symbol of Good Governance, Excellence: Goyal (See 'Corp Brief') SARFAESI - equitable considerations cannot override statutory auction process; writ jurisdiction under Article 226 cannot be invoked to compel bank to accept One Time Settlement or interfere with SARFAESI proceedings already adjudicated under statutory forum: HC (See 'Legal Desk') Hindustan Copper welcomes Chile's CODELCO Team to India (See 'Corp Brief') IICA inks MoU with National Academy of Defence Production (See 'Corp Brief') Competition Act - mere dissatisfaction with service conditions or operational practices did not warrant intervention, more so where any prima facie case under Section 3 or 4 of the Act are not made out: CCI (See 'Legal Desk') Chouhan reviews ICAR-Central Institute of Agricultural Engineering in Bhopal (See 'Corp Brief') DG RPF calls for synergised action by RPF-GRP across States to Safeguard Railway Pax (See 'Corp Brief') Trade Marks - Where an application for registration of Trade Mark is filed on proposed to be used basis, the mark can still acquire distinctiveness before registration; refusal of registration based on lack of distinctiveness unjustified, more so where similar marks were registered by same authority: HC (See 'Legal Desk') PM leads nationwide celebrations of 11th International Day of Yoga (See 'Corp Brief') PMLA - Once property is already auctioned by bank under SARFAESI, legal implications of sale depended on whether sale certificate had been issued: SAFEMA (See 'Legal Desk') NCLAT is not a mere rubber stamp for CoC decisions (See CORP EINSICHT)

Print

CCI approves Sundaram ASM's 100% stake acquisition in Principal Asset Management

Published: Apr 06, 2021

By TIOLCORPLAWS News Service

NEW DELHI, APR 6, 2021: THE Competition Commission of India (CCI) on Tuesday said it has approved Sundaram Asset Management Company's (SAMC) acquisition of 100 per cent issued and paid-up equity share capital in Principal Asset Management (PAM) and its related companies.

SAMC had notified the fairtrade regulator of the transaction, which included PAM, Principal Trustee Company and Principal Retirement Advisors, valued at Rs. 338.5 crore, in February.

As part of the proposed combination, the schemes of the Principal Mutual Fund (PMF) shall be transferred to Sundaram Mutual Fund (SMF), while the trusteeship and management of the PMF schemes shall be transferred to Sundaram Trustee Company (STCL) and SAMC, respectively.

SAMC is a public limited company incorporated in India in 1996, and a wholly-owned subsidiary of Sundaram Finance.

PAMP is engaged in the business of providing asset management services to PMF and operating and managing the PMF schemes. PTCPL is engaged in the business of providing trusteeship services to the PMF. PRAPL provides long-term investment and retirement planning , along with insurance products and policies, and distributes mutual funds.

TIOL CORP SEARCH

TIOL GROUP WEBSITES

taxindiaonline
taxindiainternational
tioltube
TKF
TIOLawards
A TIOL Website. Copyright © 2025 TIOLcorplaws.com All rights reserved.