CCI okays merger of Omaxe promoter companies
   
Quotes

CCI okays merger of Omaxe promoter companies

Last Updated: Wednesday, May 8, 2013, 21:19
 
 Comment 0
 
CCI okays merger of Omaxe promoter companies
New Delhi: Realty firm Omaxe on Wednesday said fair trade regulator Competition Commission of India (CCI) has approved the merger of some of its promoter companies.

In a filing to the BSE, Omaxe said that the amalgamation of six of its promoter companies with another promoter company Guild Builders had been filed with High Court of Punjab and Haryana.

These six promoter companies are -- Constellation Capital Ltd, SA Finvest, Kautilya Monetary Services, Naj Builders Ltd, Green Tech Tower Builders and JB Realcon.

The amalgamation was proposed to consolidate and simplify the group structure, and bring greater efficiency in resource management.

The promoter companies had also approached CCI for the approval of the proposed amalgamation.

The CCI felt that the control over the business after the proposed amalgamation rests with same promoters and therefore, the proposed combination is not likely to give rise to any adverse competition concerns in India.

"Accordingly, the Commission has approved the said amalgamation/combination of the promoter companies," the filing said.

PTI



First Published: Wednesday, May 8, 2013, 21:19


Comments


comments powered by Disqus
Ford Figo Aspire
Ford Figo Aspire
Samsung Galaxy S6 Edge Plus, Note 5
Samsung Galaxy S6 Edge Plus, Note 5
Maruti Suzuki S-Cross
Maruti Suzuki S-Cross
Mahindra New Thar CRDe
Mahindra New Thar CRDe
New Generation Scorpio
New Generation Scorpio

Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved