In light of the growing trend of private equity (“PE”) firms acquiring minority stakes in multiple firms in the same sector, the Competition Commission of India (the “CCI”) has recently announced a market study to analyse the incentives and rights associated with such minority investments, and their impact on competition in India. There is a lack of clarity around situations in which a PE investor is required to notify a proposed minority acquisition to the CCI, and it is hoped that the CCI’s proposed market study will inform improvements to this framework, in order to bolster certainty and investor confidence. In this context, this note provides an overview of the existing Indian merger control framework vis-à-vis ‘minority acquisitions’, including the uncertainty currently surrounding the notifiability of such transactions, and suggests a possible way forward.
We are pleased to announce that Divyanshu Pandey and Arpita Garg will join S&R Associates as partners based in the Firm’s New Delhi office, and will be joined by associates Rishabh Bhojwani, Prerna Sachdeva and Shashwat Bhaskar. Divyanshu will head the Firm’s practice in banking and finance.
We are pleased to announce that Shahezad Kazi has been elected a partner at S&R Associates. We are also pleased to announce that Abhiroop Amitava Datta, Raunaq Bahadur Mathur and Dhruv Nath have been designated as counsel at the Firm.
This month, we mark fifteen years since our Firm‘s inception in 2005. The principles with which we started and that continue to drive us today are our commitment to quality of work, dedication to our clients and a professional culture in Indian legal services with international standards.