Union Minister jighlights Nari Shakti Vandan Adhiniyam as Transformative Reform (See 'Corp Brief') Bizu Festival Celebrations highlight Cultural Pride and Policy Dialogue on Tribal Development (See 'Corp Brief') India, Kuwait emphasize Dialogue Over Conflict to Secure Energy and Trade Supplies (See 'Corp Brief') Misc - There is no right in borrower to personal hearing by banks before classifying their account as fraud account: SC (See 'Legal Desk') Manohar Lal holds Key Engagements on Infrastructure and Development Cooperation (See 'Corp Brief') CARI Bengaluru gets ISO 15189:2022 Accreditation in Biochemistry (See 'Corp Brief') NI Act - At stage of issuance of process, statutory presumption u/s 139 of NI Act cannot be dislodged in summary manner merely by contending that cheque issued was not for legally enforceable debt: SC (See 'Legal Desk') Barabanki to Bahraich Highway to become Key Cross-Border Trade Lifeline (See 'Corp Brief') Advanced Agriculture fest kicks off in Raisen in MP (See 'Corp Brief') PMLA - Sec 2(1)(u) permits attachment of any property of equivalent value, including properties acquired prior to commission of scheduled offence, which are untraceable: SAFEMA (See 'Legal Desk') NTWB welcomes Jan Vishwas Amendments (See 'Corp Brief') IPR - Controller of Patent would decide whether differences, viewed in knowledge of alleged invention, constitute steps which would have been obvious to ordinary person skilled in art and rule out hindsight approach: HC (See 'Legal Desk') Anand Kumar Pal joins MoF as Chief Cost Adviser (See 'Corp Brief') IPR - Generic disclosure does not, by itself, defeat novelty of specific disclosure; Prior art that teaches away from claimed invention cannot serve as foundation for anticipation: HC (See 'Legal Desk') India-GCC reaffirms commitment to Regional Stability (See 'Corp Brief') IPR - Prior user of trademark has superior rights over subsequent user who holds registration for same or similar mark: HC (See 'Legal Desk') India-Bahrain stresses stability, Supply Chain Resilience and Stronger Economic Ties (See 'Corp Brief') Company Law - Sourcing pre-condition deposit unlawfully from corporate funds in direct violation of Sec 185, or executing settlement agreements without effectuating actual refunds or delivering legally valid & habitable possession, is illegal: SC (See 'Legal Desk') Supreme Court Clears Path For Single Insolvency Proceedings Against Linked Group Companies (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.