CCI approves Mizuho Securities to acquire certain equity of Avendus Capital (See 'Corp Brief') CCI approves merger of A1 Agri Global, B.N. Agritech & Salasar Balaji Overseas (See 'Corp Brief') CCI approves acquisition by MAIF in Maple IM, Maple PM & Maple Trust (See 'Corp Brief') IBC - Minimum default threshold u/s 4 is met in case involving operational debt denominated in foreign currency, if foreign currency amount is converted into Indian Rupees with reference to exchange rate prevailing on date of invoice: NCLT (See 'Legal Desk') World IP day - Govt announces 3-year fee waiver for sports-related IP registrations (See 'Corp Brief') Govt organizes workshop on developing critical minerals value chain (See 'Corp Brief') Competition Act - Tender conditions & eligibility criteria are primarily within procurer's domain and, absent evidence that such clauses restricts competition or cause exclusionary harm, no intervention is warranted: CCI (See 'Legal Desk') TRAI releases Consultation Paper on 'Proliferation of Public Wi-Fi Networks in India' (See 'Corp Brief') DoP and DTDC sign MoU to strengthen Logistics and E-Commerce in India (See 'Corp Brief') Trade Mark - Defendants' conduct of running a coordinated fraudulent recruitment scheme, impersonating the plaintiffs & extracting money from each candidate, is deliberate exploitation of plaintiffs' goodwill & causes reputational harm: HC (See 'Legal Desk') PDUNASS-Gujarat NLU launch Programme on Labour Law and Social Security Compliance (See 'Corp Brief') Shivraj to launch PMGSY-IV Batch-II in Srinagar (See 'Corp Brief') India emphasises Inclusive and Ecosystem Based Governance of Small Scale Fisheries (See 'Corp Brief') SAFEMA - Certain transaction falls within ambit of benami transaction where appellants failed to produce supporting material, despite opportunity, to establish legitimate source of funds either in hands of lender or alleged contributors: SAFEMA TRIBUNAL (See 'Legal Desk') 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')

Print

CCI invites comments on proposed combination between Bharat Forge and AAM India

Published: Mar 20, 2025

By TIOLCorplaws News Service

NEW DELHI, MAR 20, 2024: THE Competition Commission of India has invited comments from public in respect of proposed combination between Bharat Forge Limited and AAM India Manufacturing Corporation Private Limited.

On 23rd October, 2024, the Competition Commission of India (Commission) received a notice given by the Bharat forge Limited (BFL) under sub-section (2) of Section 6 of the Competition Act 2002 for the proposed acquisition of one hundred per cent (100%) shareholding of AAM India Manufacturing Corporation Private Limited (AAMCPL) and full and sole control over the Target [including e-axle assembly lines that the Target will acquire from AAM Auto Component (India) Private Limited (AAM Auto)] by BFL (Proposed Combination)  [Collectively, BFL and AAMCPL are referred to as 'Parties'].

BFL is a global provider of safety and critical forged components and solutions to various sectors including automotive, railways, defence, construction, mining, aerospace, marine, and oil & gas. Certain promoters of BFL, through BF Investments Ltd., have 48.99% and 35.52% equity shareholding in Meritor HVS (India) Limited (MHVSIL) and Automotive Axles Limited (AAL) (collectively referred to as 'Affiliate JVs'), two joint ventures with Meritor Heavy Vehicle Systems, LLC (acquired by Cummins Inc. in 2022), in India. AAMCPL is a company incorporated in India and is primarily engaged in the business of manufacture and sale of axles for commercial vehicles (CVs) in India. Affiliate JVs are also engaged in the manufacture and sale of axles for CVs in India.

The Commission is of the prima facie opinion that the proposed combination is likely to have an appreciable adverse effect on competition and, accordingly, has directed the Parties, in terms of Section 29(2) of the Competition Act, 2002, to publish details of the combination for bringing the combination to the knowledge or information of the public and persons affected or likely to be affected by such combination.

The Parties have already published the details of the proposed combination in all India editions of four newspapers viz., Mint, The Financial Express, Hindustan Times and The Indian Express on 19th March 2025 and the same is also hosted on the website of the Parties. The said details are also available on the website of the Commission (www.cci.gov.in).

As per the provisions of Section 29(3) of the Act, the Commission invites comments/objections/ suggestions in writing, from any person(s) adversely affected or likely to be affected by the proposed combination.  The same may be addressed to the Secretary, Competition Commission of India, Competition Commission of India, 9th Floor, Office Block - 1, Kidwai Nagar (East) New Delhi: 110023, India or through email: secy@cci.gov.in , within ten days from the date of publication of details of the proposed combination.

TIOL CORP SEARCH

TIOL GROUP WEBSITES

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