DFS organises Half-Day Workshop on IBC Amendment Act, 2026 (See 'Corp Brief') National Seminar on 'New Age Fibres – Innovation, Research and the Road Ahead' inaugurated (See 'Corp Brief') National Commission for Minorities organizes Conference of State Minorities Commissions (See 'Corp Brief') IPR - Sec 17 of Trade Marks Act does not prevent protection of prominent part of composite mark where that part is distinctive: HC (See 'Legal Desk') MoS launches Ayush Anudan Portal under Ayush Grid Initiative (See 'Corp Brief') Coal Production commences from Urtan and Dhirauli Mines in MP (See 'Corp Brief') Govt's TEAM Initiative empowering Small Businesses through Digital Commerce Enablement (See 'Corp Brief') PMLA - Provisional attachment not invalidated due to lack of competency of officer; amended provisions do not apply to transactions prior to 2016 amendment if property continues to be held: SAFEMA (See 'Legal Desk') MoRD charts roadmap for Women-Led Rural Marketing Ecosystems (See 'Corp Brief') Pharmacopoeia Commission organizes 5-Day Capacity Building Training (See 'Corp Brief') Saurabh Vijay assumes charge as CEO of Unique Identification Authority of India (See 'Corp Brief') Companies Act - Appellant company directed to change its name where it significantly resembles the name of a pre-existing company and may cause confusion: HC (See 'Legal Desk') Minister reviews technology-led underground mining, integrated smelting operations (See 'Corp Brief') Scientific Steering Committee Meeting on National One Health Mission Held in New Delhi (See 'Corp Brief') Govt launches campaign to reduce edible oil consumption (See 'Corp Brief') PMLA - Provisional attachment unsustainable when Initiating Officer fails to establish source of consideration & beneficial ownership as per Section 2(9)(A): SAFEMA (See 'Legal Desk') HM inaugurates 'Million Minds Tech Park' and 'GREMI City Campus' in Ahmedabad (See 'Corp Brief') Amit Shah inaugurates State-of-the-Art Milk Processing Plant of Madhur Dairy (See 'Corp Brief') Experts Discuss Yoga for Youth and Mental Wellness in Digital Era (See 'Corp Brief') Misc - RBI circular dated June 07, 2019 on 'Prudential Framework for Resolution of Stressed Assets' was policy decision taken by expert body in larger public interest: HC (See 'Legal Desk') GeM continues to support Digital Public Procurement System (See 'Corp Brief') Ministry of Education reviews strategy for mainstreaming Out-of-School children (See 'Corp Brief') Misc - NBFC cannot reposses financed vehicle through coercive means, without adherence to due process of law and in violation of RBI recovery guidelines: HC (See 'Legal Desk') Supreme Court lays down scenarios for lifting of Doctrine of Corporate Veil (See 'CORP EINSICHTf')

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.