NHAI gets warm response from Bidders for Four-Laning of Dhamasiya-Bitada in Gujarat (See 'Corp Brief') Metro in India a 'Silent Revolution' transforming Urban Mobility and Society (See 'Corp Brief') CCI approves acquisition by Cube V of road asset business of DYIPL, DVIPL, DGIPL and DTEHPL (See 'Corp Brief') CCI approves acquisition of stake in Curefit Healthcare by MacRitchie Investments (See 'Corp Brief') IBC - Once Resolution Plan is approved by NCLT u/s 31 of IBC, it becomes binding on all stakeholders, and all claims not provided for in plan stand extinguished: HC (See 'Legal Desk') Country ready for any Unprecedented Demand for Coal: Govt (See 'Corp Brief') DPIIT signs MoU with Voltas Limited to support Industry-Start-up Collaboration for Smart Appliance Technologies (See 'Corp Brief') New Delhi Frontier AI Impact Commitments were Signed by 13 Leading Model Providers (See 'Corp Brief') APEDA showcases Agri and Processed Food Export Strength at AAHAR 2026 (See 'Corp Brief') IPR - Party seeking cancellation of registered trademark on grounds of similarity and prior rights must first establish its own prior and continuous use of its mark as trademark: HC (See 'Legal Desk') Capacity Building Commission hosts workshop on sustainable financing & resource mobilisation (See 'Corp Brief') Govt boosts Credit Flow to Agriculture Sector through targeted Policy Measures (See 'Corp Brief') IBC - Application of Discount for Lack of Marketability is permissible valuation methodology under Indian Accounting Standards for determining fair value of unlisted, illiquid shares in context of capital reduction: SC (See 'Legal Desk') IICA holds 4th Batch of Directors' Certification for Defence Officers (See 'Corp Brief') Financial inclusion campaign was held in 2.7 lakh Gram Panchayats and ULBs (See 'Corp Brief') A&C - Award can be set aside only on specific grounds such as being contrary to fundamental policy of Indian law, violating basic notions of morality or justice, or suffering from patent illegality that goes to root of matter: HC (See 'Legal Desk') ICANN85 in Mumbai highlights Collaboration for resilient Internet (See 'Corp Brief') Minister chairs 35th Meeting of Standing Committee of Voluntary Agencies (See 'Corp Brief') A&C - amendment to petition filed u/s 34 of Arbitration Act, cannot be permitted under Order VI Rule 17 of CPC if its effect is to introduce challenge to distinct part of arbitral award: HC (See 'Legal Desk') NITI Aayog convenes Regional Best Practices Seminar (See 'Corp Brief') FTAs opening New Opportunities for Pharma, Healthcare and MedTech Sectors: Goyal (See 'Corp Brief') MSME Ministry promotes Energy Efficiency and Green Practices in MSME Sector (See 'Corp Brief') Transforming Mined Landscapes: NLC India's Journey in Sustainable Mine Restoration (See 'Corp Brief') IEPFA-NCAER jointly organise Investor Education and Protection Workshop (See 'Corp Brief') IPR - Proprietorship of trademark, as general rule, vests in manufacturer who affixes mark on product, not in importer or distributor of those goods: HC (See 'Legal Desk') Chouhan holds post-Budget discussion with coconut farmers in Chennai (See 'Corp Brief') IBC - Creditor cannot be forced to elect its remedy or apportion its claim between principal debtor and guarantor: SC (See 'Legal Desk') IBC - Judicial review by NCLT & NCLAT does not extend commercial wisdom of Committee of Creditors in evaluating and approving resolution plan: SC (See 'Legal Desk') A&C - Pre-award and post-award interest operate in distinct fields and contractual bar applicable to former cannot, by implication, be extended to latter: SC (See 'Legal Desk') MoS interacts with beneficiaries of desalination plant in Kavaratti (See 'Corp Brief') A&C - Court will not grant specific performance of contractual obligation that is contingent upon discretionary approval of third-party government authority: HC (See 'Legal Desk') A&C - Contractual clause that expressly and widely bars payment of interest on ‘any moneys due to contractor' prohibits arbitral tribunal from awarding pre-reference and pendente lite interest on all claims: HC (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.