IN A SIGNIFICANT FIRST, THE COMPETITION COMMISSION OF INDIA SETS ASIDE A COMBINATION APPROVED UNDER THE GREEN CHANNEL ROUTE

Published On: 06/09/2023

Practice Area: Competition Law

Authors:

On August 18, 2023, the Competition Commission of India, for the first time set aside a combination it had approved under the green channel route. As such, the Competition Commission of India imposed a total penalty of INR 55 lakhs (approximately USD 67,073) on Platinum Jasmine A 2018 Trust and TPG Upswing Ltd. for: (a) making false statements in their merger notification; and (b) gun-jumping. INDUSLAW's Avimukt Dar Unnati Agrawal, Yash Lahoty, Swapnil S, and Hrishav Kumar analyse the instant order.