New Delhi: The Competition Commission of India (CCI) has approved acquisition of additional shareholding in CaratLane Trading Private Limited (CaratLane) by Titan Company Limited (Titan).


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The proposed combination relates to the acquisition by Titan of 27.18% share capital of CaratLane (a subsidiary of Titan), on a fully diluted basis, from Mithun Padam Sacheti, Siddhartha Padam Sacheti, and  Padamchand Sacheti.


Titan, a public listed company, is active in several business through lifestyle brands including, jewellery, eyecare, fragrances, fashion accessories, and Indian dress wear.


CaratLane is a private limited company engaged in the business of manufacture and sale of gems and jewellery in India.


Detailed order of the CCI will follow, said Competition Commission of India release.