NCLAT: IRP Has Authority to Take Possession of Assets Owned by Corporate Debtor  ||  NCLAT: NCLT Can Direct Forwarding a Copy of its Order to Relevant Statutory Authorities  ||  Delhi HC: Centre to Expedite Process of Accessibility Features in OTT platforms for PwDs  ||  Delhi HC: Once Worker Provides Testimony Under Oath ‘Burden of Proof’ Shifts on Employer  ||  SC: There Cannot be Discrimination in Matter of Payment of Pension to Retired Judges  ||  SC: India is Not a Dharamshala that Can Entertain Foreign Nationals from All Over  ||  SC: Can Quash Domestic Violence Act Complaints Under Section 482 of CrPC  ||  Supreme Court: Can’t Use Statement of One Accused against Another  ||  SC: Inclusion of Name in Draft NRC Cannot Annul Foreigners Tribunal’s Declaration as Non-Citizen  ||  Supreme Court: Minimum Practice of 3 Years Mandatory to Enter Judicial Service    

CCI approves acquisition of a minority stake in Aditya Birla Fashion and Retail Limited by Flipkart Investments Private Limited- (Press Information Bureau) (21 Jan 2021)

MANU/PIBU/0223/2021

MRTP/ Competition Laws

The Competition Commission of India (CCI) approves acquisition of a minority stake in Aditya Birla Fashion and Retail Limited (ABFRL) by Flipkart Investments Private Limited (FIPL). FIPL is a newly incorporated company and is a wholly owned subsidiary of Flipkart Private Limited (FPL). FPL belongs to the Walmart Group, which comprises Walmart Inc. (Walmart) and its affiliates. The Walmart Group undertakes various business activities in India, such as wholesale trading of products, providing e-commerce marketplace services and digital payments services.

ABFRL is a public limited company incorporated in India and is part of the Aditya Birla conglomerate. ABFRL (including through its subsidiaries) is engaged in the business of manufacturing and retailing branded apparels, footwear and accessories, through its retail stores, multi-brand outlets, departmental stores, online retail platforms and e-commerce marketplaces, across India. The proposed combination relates to acquisition by FIPL of a minority shareholding of 7.8%, on a fully diluted basis in ABFRL, by way of subscription equity shares.

Tags : ACQUISITION   APPROVAL   FLIPKART  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved