Unlocking Potential of Idle Financial Assets in India (See 'Corp Brief') SARFAESI - In absence of any adjudication by the DRT in determining the debt, statutory scheme permits reliance upon claim made by secured creditor for purpose of fixing pre-deposit: HC (See 'Legal Desk') CCI okays acquisition of shares in Nxtra Data by Alpha Wave Ventures (See 'Corp Brief') CCI okays acquisition of 21% voting interest in Astemo Ltd. by Honda Motor (See 'Corp Brief') FEMA - Claims & liabilities pertaining to periods prior to approval of resolution plan, which do not survive under approved plan, are extinguished & cannot be enforced: SAFEMA (See 'Legal Desk') Special Drive launched for expeditious Disposal of Long-Pending Labour Cases (See 'Corp Brief') Amit Shah to launch NAFED's auction portal 'NAFEX.in' (See 'Corp Brief') SEBI - A judicial pronouncement cannot ordinarily be modified or reviewed through post-disposal miscellaneous application; Tribunal becomes functus officio upon disposal of appeal: SAT (See 'Legal Desk') Railways approves Kavach Deployment Worth Rs.270 Crore on East Coast (See 'Corp Brief') DIBD and AISF sign MoU to promote Language Technology and Multilingual Innovation in Assam (See 'Corp Brief') IPR - Injunction allowed as defendant's adoption of marks is not honest or bona fide; marks are deceptively similar to plaintiff's registered trademark, such that an average consumer with imperfect recollection would likely be confused: HC (See 'Legal Desk') NMDC accelerates Digitalisation and Sustainable Mining to support 100 MTPA Vision (See 'Corp Brief') Union Minister sanctions over 42,000 houses in MP; 38,000 families perform grih pravesh (See 'Corp Brief') A&C - Where a Section 34 court has already examined the award, a possible alternative interpretation of the contractual clause is insufficient to justify interference: HC (See 'Legal Desk') Tech Innovation and disruption in Construction Industry (See 'CORP EINSICHT') Union Minister reviews Power Sector and Urban Development Schemes with Jharkhand Govt (See 'Corp Brief') APEDA facilitates First Export of fresh Uttarakhand Litchi to Italy (See 'Corp Brief') Trade Marks - Quasi-judicial authority cannot validly base its decision on grounds that were not specifically disclosed in SCN, thereby depriving noticee of an effective opportunity to respond: HC (See 'Legal Desk') Nadda calls for Push towards a TB-Free India (See 'Corp Brief') India must take control of security-related necessities to remain future-ready: RM (See 'Corp Brief') A&C - Financial hardship cannot justify payment of disputed amount linked to fulfilment of deliverable-based obligations: HC (See 'Legal Desk')

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CCI okays acquisition of stake of Speed JVco S.a r.l. (Target) by Ramon Investments

Published: Dec 18, 2024

By TIOLCorplaws News Service

NEW DELHI, DEC 18, 2024: THE Competition Commission of India has approved the acquisition of certain stake of Speed JVco S.a r.l. (Target) by Ramon Investments Pte. Ltd. (Acquirer). The Proposed Combination involves the acquisition of certain stake of the Target by the Acquirer.

Acquirer is an investment holding company and does not engage in any business operation other than holding investments. It is an indirect wholly owned subsidiary of Temasek Holdings (Private) Limited (Temasek).

Temasek is an investment company headquartered in Singapore. Temasek's global portfolio covers a broad spectrum of industries including transportation; financial services; telecommunications, media & technology; consumer & real estate; life sciences & agri-food; and multi-sector funds.

Target including its affiliates, inter alia, provides visa outsourcing and related services i.e., offering visa application and consular services to governments and diplomatic missions; travel-related services including facilitation of travel itinerary and hotel reservations, facilitation of travel insurance and other ancillary services such as providing sim cards and forex, etc.

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