<h1>CCI Approves Sanoti Properties' Acquisition of 55.39% Stake in Magma HDI u/s 31(1) of Competition Act 2002.</h1> The Competition Commission of India (CCI) has approved Sanoti Properties LLP's acquisition of a 55.39% stake in Magma HDI General Insurance Company Limited. This acquisition involves Sanoti subscribing to new equity shares and acquiring shares from Poonawalla Fincorp Limited and Serum Institute of India Private Limited. Sanoti specializes in developing commercial and residential real estate projects, while Magma HDI offers a range of general and non-life insurance products in India. The approval falls under Section 31(1) of the Competition Act, 2002, with a detailed order from the CCI to be issued subsequently.