Trade Marks Act - Suit cannot survive when main cause of action in suit no longer exists: HC (See 'Legal Desk') Trademarks Act - Injunction can be provided against e-commerce websites for allowing unauthorized third party sellers to latch on and use trademark of authorized seller: HC (See 'Legal Desk') SEBI Act - Penalty can be imposed on Noticee if there is no timely disclosure of financial results as mentioned in LODR Regulations: SEBI (See 'Legal Desk') SARFAESI Act - High Court is not justified in staying operation of order of DRAT which conclude that there is no error apparent on face of record for DRT to invoke review jurisdiction and recall its order: SC (See 'Legal Desk') Competition Act - Restriction of price and using strikes and lock outs that would lead to manipulation of market outcomes would be considered as anti competitive practice: CCI (See 'Legal Desk') Trade Marks Act - Trademark can be registered if there is proper establishment of secondary meaning of trademark: HC (See 'Legal Desk') IBC - Adjudicating Authoriy does not have power under IBC to restrict audit commissioned under RBI circulars: NCLT (See 'Legal Desk') Arbitration Act - Prior notice of invocation of bank guarantee can be provided if there cannot be injunction against invocation: HC (See 'Legal Desk') NIPAM trains 1 mn students on Intellectual Property awareness (See 'Corp Brief') Coal production rises by 11.4 % to 60.42 mn ton in July (See 'Corp Brief') PM praises Indian men & women Chess teams for winning medals at Olympiad (See 'Corp Brief') Fishery: Women as catalyst for change: Experts (See 'Corp Brief') Inflation: Is it really 'Taxation without Legislation'! (See 'THE COB(WEB)' in TIOL) Constitution of India - Due to non-granting of relaxations under circular does not leads to violation of rights of petitioner as conditions imposed in tender is choice of authority and court cannot interfere unless it is arbitrary: HC (See 'Legal Desk') Arbitration Act - Award can be set aside if there is no proper reason provided for coming up with figure of relief amount and if it is ex facie contrary: HC (See 'Legal Desk') TradeMark Act - Person can get relief for passing off of goods and adoption of deceptively similar trademark even if trademark is not registered: HC (See 'Legal Desk') PIT Regulations - Penalty can be awarded for violation of PIT Regulations due to failure to make requisite disclosures with respect to trades within time stipulated: SEBI (See 'Legal Desk') Companies Act - MCA should follow Sec 413 and prescribe tenure of members of NCLT as 5 years: SC (See 'Legal Desk') MoS shares India's roadmap for climate protection (See 'Corp Brief') Companies Act - Appeal can be allowed if previous order does not allow appellants to access register of members which is produced as proof: HC (See 'Legal Desk') IBC - IRP can be suspended from their position if performence is not satisfactory to CoC and if there is allegations of mismanagement: IBBI (See 'Legal Desk') Trade Marks Act - If descriptionary common word which occurs in registered trademark of other party are used does not amounts to infringement of trademark: HC (See 'Legal Desk') IBC - Limitation period of filing CIRP can be extended when there is communication between parties in between even though due date arose earlies: NCLT (See 'Legal Desk') Scindia chairs Advisory Committees for Integrated Steel Plants and Secondary Sector industry (See 'Corp Brief') MoS seeks support of NSF for proposed Integrated Data System (See 'Corp Brief')

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CCI approves stake in IDFC Cos by Bandhan, ChrysCapital and GIC

Published: Aug 02, 2022

By TIOLCorplaws News Service

NEW DELHI, AUG 02, 2022: THE Competition Commission of India (CCI) approves acquisition of stake in IDFC Asset Management Company Limited and IDFC AMC Trustee Company Limited by Bandhan Financial Holdings Limited, ChrysCapital and GIC.

The proposed combination envisages acquisition of 99.96% stake in IDFC Asset Management Company Limited (IDFC AMC) and 100% stake in IDFC AMC Trustee Company Limited (IDFC Trustee) by Bandhan Financial Holdings Limited (BFHL), Lathe Investment Pte. Ltd. (Lathe), Tangerine Investments Limited (CC Entity 1) and Infinity Partners (CC Entity 2).

BFHL is a wholly-owned subsidiary of Bandhan Financial Services Limited. BFHL is set up to act as the promoter of Bandhan Bank Limited and to hold the investment in Bandhan Bank as well as all other financial services entities of the group regulated by the Reserve Bank of India or other financial sector regulators.

Lathe is wholly-owned by GIC (Ventures) Private Limited. Lathe is part of a group of investment holding companies managed by GIC Special Investments Private Limited.

CC Entity 1 is a subsidiary of ChrysCapital IX, LLC (CC IX). CC IX is a private equity fund set up by the ChrysCapital group. CC Entity 2 is a partnership firm.

IDFC AMC is the asset management company to IDFC Mutual Fund (IDMF). IDFC AMC also operates a portfolio management business and acts as an investment manager to IDFC India Equity Hedge Fund, a Category III Alternative Investment Fund. IDFC Trustee has been appointed as the trustee company of IDMF.

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