CCI approves merger of Aditya Marketing and Manufacturing Private Limited into Umang Commercial Company Private Limited

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....CI approves merger of Aditya Marketing and Manufacturing Private Limited into Umang Commercial Company Private Limited <br>News and Press Release<br>Dated:- 31-8-2022<br><BR>The Competition Commission of India (CCI) approves the merger of Aditya Marketing and Manufacturing Private Limited into Umang Commercial Company Private Limited. Umang Commercial Company Private Limited (Acquirer) is a part ....

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....of Aditya Birla Group, an Indian multinational conglomerate with presence in more than 30 countries and having businesses in various industry sectors. The Acquirer is an investment holding company and holds shareholding in various entities on behalf of Mr. Kumar Mangalam Birla and / or his family. The Acquirer is registered with the Reserve Bank of India (RBI) as a Non-banking Financial Company (N....

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....BFC). Aditya Marketing and Manufacturing Private Limited (Target) is a part of B K Birla Group, a diversified group having businesses in various industry sectors. The Target is an investment holding company and holds shareholding in various entities on behalf of late Mr. Basant Kumar Birla and his family (BKB Family). The Target is registered with the RBI as a NBFC. The proposed combination invo....

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....lves merger of Target into Acquirer in accordance with the Scheme of Amalgamation under Sections 230 and 232 of the Companies Act, 2013 (Scheme). As a result of the merger and in terms of the Scheme, the shares held by the Target in various entities will get transferred to the Acquirer. Consequently, the Acquirer group will acquire control over the below listed and unlisted entities: a. Padmavati....

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.... Investment Private Limited; b. Pilani Investment and Industries Corporation Limited; c. Century Textiles and Industries Limited; d. Century Enka Limited; and e. Ganesh Tubes and Services Private Limited. Collectively referred to as the "Proposed Combination". The CCI approved the proposed combination on the basis of modifications offered by the Acquirer. Detailed order of the CCI will foll....

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....ow.<BR> News - Press release - PIB....