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Amarchand Mangaldas has represented NHK Automotive in obtaining merger control clearance from the Competition Commission of India (CCI) in relation to the proposed acquisition of BCL Springs Division of Bombay Burmah Trading Corporation (BBTC).
In September, NHK Automotive, a wholly owned subsidiary of NHK Spring Japan (NHK Japan) had agreed to purchase the BCL Springs Division of BBTC as a going concern on a slum sale basis for Rs. 180.50 crore ($38.9 million). The sale was subject to obtaining regulatory approvals including approval from the CCI, which has now been obtained. Amarchand advised NHK while Udwadia & Udeshi represented BBTC in the above transaction.
Amarchand had filed an application in terms of Regulation 14 of the Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Regulations, 2011 and has obtained a clearance from CCI within one month of filing its application.
The CCI in its 8-page order has observed that the Commission is of the opinion that the proposed combination is not likely to have an appreciable adverse effect on competition in India and the Commission hereby approves the proposed combination.
Amarchand Delhi and Mumbai competition law teams represented NHK before CCI. The Delhi team was led by Director Paku Khan along with Shweta Shroff Chopra and Mumbai team was led by Partner Ashwath Rau and Principal Associate Nisha Kaur Uberoi along with Gauri Chhabra.
Recently, the CCI had cleared Alstom merger in record 7 days. Alstom was represented by Amarchand Delhi competition law team.