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The Competition Commission of India (CCI) has approved the proposed acquisition of Sharekhan Ltd and Human Value Developers Pvt Ltd by Mirae Asset Capital Markets (India) and Mirae Asset Securities.

“CCI has approved acquisition of 100% equity stake of Sharekhan Ltd and Human Value Developers Pvt Ltd by Mirae Asset Capital Markets (India) Pvt Ltd and Mirae Asset Securities Co Ltd, respectively,” a release said.

Mirae Asset Securities is a public limited company, while Mirae Asset Capital Markets (India) is a wholly owned subsidiary of Mirae Asset Securities.

Sharekhan Ltd is engaged in the business of stock broking, commodities/currency derivatives broking.

Human Value Developers Pvt Ltd is an investment holding company that holds a certain stake in Sharekhan and does not undertake any other business activity.

Other approvals

In another release, the CCI said it has approved Piramal Alternatives Trust for the proposed acquisition of 10.39% stake in Annapurna Finance.

Piramal Alternatives Trust is a trust belonging to Piramal Enterprises Ltd.

The CCU has approved the acquisition of 10.39% shareholding of Annapurna Finance Pvt Ltd and subscription to its certain debentures by Piramal Alternatives Trust, the release said.

Annapurna Finance is an RBI-registered non-deposit-taking non-banking financial company.

The CCI has also approved the proposed acquisition of NFCL Assets and 100% stake of ZeroC by AMG India using proceeds of investments received from AMG Entities, BSI, Gentari, and Platinum Rock.

Nagarjuna Fertilizers and Chemicals Ltd (NFCL) is a publicly listed company specialising in urea manufacturing and micro-irrigation products, while Greenko ZeroC Pvt Ltd (ZeroC) is not engaged in any revenue generating business activities in India at present.

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