Political Capital missing to tax masses - Let GST do it! - Dr Panagariya tells TIOL (See 'THE COB(WEB)' in TIOL) Arbitration - Petition u/s 34 is beyond pecuniary jurisdiction of District Court as when interest is added, 'Aggregate Value' of claim exceeds Rs two crore: HC (See 'Legal Desk') SEBI - Failure of merchant banker to exercise due diligence and correctly apply law while calculating offer price attracts penalty u/s 15I: SAT (See 'Legal Desk') Aavishkaar Capital launches 'ESG First Fund' Swiggy raises USD 700 million in funding round led by Invesco Baby Amore raises external funds from GetVantage & marketplace Railways follows roadmap for supplying rakes for coal (See 'Corp Brief') Udyam Registration paves way for success (See 'Corp Brief') IBC - Since claim of Appellant is filed much belatedly, same is rightly rejected by Resolution Professional: NCLAT (See 'Legal Desk') Arbitration - Quantity and quality of evidence, is aspect that lies in exclusive domain of Arbitrator and requires no intervention of Court: HC (See 'Legal Desk') CCI imposes penalty on maritime transport companies (See 'Corp Brief') CCI nod for acquisition of shares of Future Generali by Generali N.V (See 'Corp Brief') CCI okays internal acquisition by Glaxo Smith Kline (See 'Corp Brief') SEBI Listing Obligations Regulations - Reclassification of promoter to public shareholder without seeking prior approval from stock exchange can attract penalty under LODR Regulations : SAT (See 'Legal Desk') IBC - Limitation Act, 2013 is not applicable to IBC, 2016 : NCLT (See 'Legal Desk') Trademark Act - Once found that Defendant's TM is identical with Plaintiff's registered TM, Court cannot go into enquiry whether infringement would cause deception or confusion: SC (See 'Legal Desk') Competition Act - Anti-competitive tendering process can be investigated by CCI even though lottery business carried out by State is res extra commercium - SC (See 'Legal Desk') IBC - Framework for cross-border insolvency to be announced soon (See 'Corp Brief') NITI Aayog, Rocky Mountain release 'Banking on EVs in India' report (See 'Corp Brief') Tiger conservation crucial for sustaining plethora of ecosystem services: Yadav (See 'Corp Brief') Toy-based pedagogy is in alignment with NEP 2020: MoS (See 'Corp Brief') SEBI - Provisions of SARFAESI Act cannot override those of LODR Regs., 2015 and CA, 2013 as they are not inconsistent with those of SARFAESI Act : SAT (See 'Legal Desk') CPC - Where there is identity of matter in both suits, even if further reliefs are claimed in subsequent suit, second suit must be stayed u/s 10: HC (See 'Legal Desk') PMLA - Arrested persons cannot be retained in judicial custody where ED is unable to complete investigation in a particular time frame due to peculiar nature of offence - bail allowed: SJ (See 'Legal Desk') Mineral Production Goes up by 5% in Nov month (See 'Corp Brief')

CCI nod to Coral Blue to acquire shares of Sutherland Global Holdings

Published: Jan 11, 2022

By TIOLCorplaws News Service

NEW DELHI, JAN 11, 2022: THE Competition Commission of India (CCI) approves acquisition of shares in Sutherland Global Holdings Inc. by Coral Blue Investment Pte. Ltd.

The proposed combination pertains to the acquisition of Series C Preferred Stock convertible to common stock of Sutherland Global Holdings Inc. (Sutherland) in two tranches by the Coral Blue Investment Pte Ltd. (GIC Investor) subject to the fulfilment of relevant conditions.

GIC Investor is wholly-owned by GIC Blue Holdings Pte. Ltd., an entity which is in turn wholly-owned by GIC (Ventures) Private Limited. GIC Investor is a special purpose vehicle organized as a private limited company in Singapore. It is part of a group of investment holding companies managed by (i) GIC Special Investments Private Limited, which is wholly-owned by GIC Private Limited and (ii) the Integrated Strategies Group of GIC.

Sutherland is a privately held holding company, incorporated in the United States of America. Sutherland operates as a holding company and is a global information technology service provider specializing in the provision of integrated business process outsourcing (BPO), business transformation, cloud, back office, and front office services, business process and technology management services. It operates through four indirect subsidiaries in India i.e., (i) Sutherland Global Services Private Limited; (ii) Sutherland Development Company Private Limited; (iii) Adventity Global Services Private Limited; and (iv) Sutherland Healthcare Solutions Private Limited.

TIOL CORP SEARCH

TIOL GROUP WEBSITES