Diaspora vital connectors between India and global innovation ecosystems: MoS (See 'Corp Brief') Srinagar Khel Sankalp affirms unified commitment to athlete-centric sports ecosystem (See 'Corp Brief') IBC - If corporate debtor is solvent & functioning company, then insolvency process invoked only to secure payment of individual dues by initiation of CIRP, amounts to misuse of IBC as recovery mechanism: SC (See 'Legal Desk') Reining in Misuse of IBC for Recovery (See CORP EINSICHT) SAMAVESH Portal, NMBA 2.0, SETU and SMILE Beggary Apps Launched at Chandigarh Shivir (See 'Corp Brief') PMLA - Attachment of a residential property upheld where Act itself permits attachment not only of property directly acquired from proceeds of crime, but also of untainted property representing equivalent value where actual proceeds of crime are unavailable or untraceable: HC (See 'Legal Desk') Veep urges Youth to become Job Creators and Nation-Builders (See 'Corp Brief') CCIC launches 'Soul Threads' - A Heritage Designer Collection Celebrating Artisanal Legacy (See 'Corp Brief') IBC - If statutory authority, during subsistence of moratorium u/s 14, directs bank to place lien on bank accounts of Corporate Debtor, and bank acts on same, it would amount to execution against Corporate Debtor and is barred by Sec 14: NCLT (See 'Legal Desk') IPR - As Constitutional Court under Article 215 of Constitution, appropriate orders are warranted to ensure that its directions are not taken in perfunctory or dismissive manner: HC (See 'Legal Desk') Prohibition of Benami Property Transactions Act, 1988 - Mere involvement of cash does not exclude transaction from ambit of benami, particularly where source is undisclosed & transaction is structured to legitimize unaccounted money during demonetization: SAFEMA Tribunal (See 'Legal Desk') PMLA - Mere fact that some allegations in predicate FIR were quashed, or that attached property was allegedly purchased before crime period, did not invalidate attachment if companies were recipients of proceeds of crime: SAFEMA (See 'Legal Desk')

Print

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.

TIOL CORP SEARCH

TIOL GROUP WEBSITES

taxindiaonline
taxindiainternational
tioltube
TKF
TIOLawards
A TIOL Website. Copyright © 2025 TIOLcorplaws.com All rights reserved.