In the month of November 2022, the National Company Law Appellate Tribunal upheld the order of the Competition Commission of India (CCI) against soil testing companies and LPG cylinder manufacturers, for indulging in bid rigging cartel, but remanded the matters back to the CCI to reconsider penalties. Further, the CCI imposed penalties on Premji Invests and Trian for gun jumping. It approved several notable combinations including:
- acquisition of minority shareholding of Yes Bank by Carlyle;
- amalgamation of Zee Entertainment Enterprise Limited with and into Sony group, with conditions;
- acquisition of additional shareholding of Trustroot by M&G under Green Channel;
- internal restructuring of Scintia and Trivium under Green Channel;
- acquisition of Mahindra Susten by Ontario Teachers’ Pension Plan Board under Green Channel.
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