'Haj Suvidha App' is for convenience of pilgrims: Rijiju (See 'Corp Brief') Bharat Tex is perfect example of industry-govt collaboration: Textiles Secretary (See 'Corp Brief') Arbitration Act - If respondent had waived right to raise objection regarding legal capacity of applicant to move application for appointment of Arbitrator, he cannot be permitted to raise objection at belated stage: HC (See 'Legal Desk') Web-portal enables citizens to participate in Youth Parliament program (See 'Corp Brief') BIS hosts Annual Convention in Healthcare Sector (See 'Corp Brief') SARFAESI - Claims of secured creditor precede claims of Sales Tax/VAT Departments; charge created by Sales Tax Department subsequent to charge created by bank under SARFAESI Act, lacks legal standing: HC (See 'Legal Desk') Unlocking creativity through Trailer Making Competition (See 'Corp Brief') India's First Ferret Research Facility dedicated to Nation (See 'Corp Brief') IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016- There is fiduciary angle to relationship between IP and IBBI: IBBI (See 'Legal Desk') IEPFA signs MoU with Association of Chartered Certified Accountants (See 'Corp Brief') Secretary chairs Stakeholders' Meeting to review preparations of India Steel 2025 (See 'Corp Brief') IBC - Non Fund Based facilities cannot be refused to be disbursed when approved Resolution Plan contains clause for their disbursement: NCLAT (See 'Legal Desk') Govt taking steps for Door-to-Door gas supply through pipeline (See 'Corp Brief') PMLA - Court woud not interfer with order passed as apellant fails to give explanation for embezzlement of funds: TRIBUNAL (See 'Legal Desk') Business trusts to pay tax at maximum marginal rate (See 'Corp Brief') Focus on nuclear energy to strengthen power infra: Manohar Lal (See 'Corp Brief') A&C - Mere existence of arbitration clause in agreement does not bar jurisdiction of civil court automatically: HC (See 'Legal Desk') Budget proposes surcharge levy on firms (See 'Corp Brief') A&C - Award without reasons would suffer from patent illegality as it completely ignores vital provisions of the agreement: HC (See 'Legal Desk') Budget offers incentives for International Finances Services Centre units (See 'Corp Brief') IBC - Copy of Resolution Plans submitted by other Prospective Resolution Applicants cannot be shared in advance with suspended management of corporate debtor, if suspended management is also RP: NCLAT (See 'Legal Desk') 'Bharattradenet' for global trade to be set up for trade financing (See 'Corp Brief') Arbitration Act - Court to appoint independent sole arbitrator as appointment procedure choosed by parties is no longer valid: HC (See 'Legal Desk')

CCI okays stake in Bagmane Developers by BREP Asia III India Holding

Published: Dec 11, 2024

By TIOLCorplaws News Service

NEW DELHI, DEC 11, 2024: THE Competition Commission of India approved the acquisition of certain stake in Bagmane Developers Private Limited and Bagmane Rio Private Limited (collectively, Target Entities) by BREP Asia III India Holding Co VIII Pte. Ltd. (Acquirer). The Proposed Combination involves the acquisition of certain stake in the Target Entities by the Acquirer.

Acquirer is an affiliate of funds advised or managed by affiliates of Blackstone Inc. The principal activity of the Acquirer is that of investment holding and related activities. However, at present, it does not have any business operations.

Target Entities are engaged in the business of development, leasing and operation of commercial real estate, hospitality business as well as allied services such as generation of renewable power.

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