CCI Approves Merger of Tata Cleantech Capital and Tata Capital
The Competition Commission of India (CCI) approved the merger of Tata Cleantech Capital and Tata Capital Financial Services into Tata Capital Ltd on Aug 8. Tata Capital Financial Services (TCFSL) and Tata Cleantech Capital Ltd are non-banking financial companies registered with the RBI. Tata Capital Ltd (TCL) owns both of these companies.
According to CCI, the proposed combination is a merger of Tata Capital Financial Services Ltd (TCFSL) and Tata Cleantech Capital Ltd (TCCL) into Tata Capital Ltd (TCL).
TCL is an RBI-registered non-deposit-accepting core investment company (CIC) that invests in its subsidiaries, which are involved in lending and providing a wide range of financial services and products.
Deals above a certain threshold require approval from the regulator, who monitors unfair business practises in the marketplace.