The Competition Commission of  India (CCI) has approved the proposed Merger of Hinduja Leyland Finance Limited with and into NDL Ventures Limited.

The proposed combination seeks to merge and consolidate the businesses of Hinduja Leyland Finance Limited with and into NDL Ventures Limited.

NDL Ventures Limited (NDL) does not have any active business, currently.

Hinduja Leyland Finance Limited (HLFL)is an NBFC-Asset Finance Company which focuses on providing small ticket size Loans to urban and semi-urban retail customers. HLF finances a wide range of vehicles, which include Two wheelers, Three Wheelers, Medium and Heavy commercial vehicles (MHCVs), Light commercial vehicles (LCVs), Small commercial vehicles, Cars (SCVs), Multi-utility vehicles. It also provides Loan against property and home loans including affordable Housing Loans.

Detailed order of the Commission will follow.

Merger approval: consolidation of an NBFC's asset finance business into an inactive holding entity cleared, detailed regulatory order to follow. The Competition Commission approved the proposed merger of Hinduja Leyland Finance Limited into NDL Ventures Limited, enabling consolidation of Hinduja Leyland Finance's asset finance activities-small ticket retail and vehicle loans, loan against property and housing loans-into NDL Ventures, which presently has no active business; a detailed regulatory order and any conditions will follow.