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TA FDI Investors Limited acquires up to eleven point seven percent equity shareholding in Vastu Housing Finance Corporation Limited through a secondary purchase. The acquirer operates as an investment holding company. The target provides home loans, property loans, and micro or MSME loans. The target also has a subsidiary that provides vehicle and equipment loans. The combination involves no horizontal overlaps or vertical links between the parties in India. The parties file the proposed transaction under the green channel route because the transaction creates no adverse effect on competition.
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SUMMARY OF THE PROPOSED COMBINATION
[UNDER REGULATION 13(1A) OF THE COMPETITION COMMISSION OF INDIA (PROCEDURE IN REGARD TO THE TRANSACTION OF BUSINESS RELATING TO COMBINATIONS) REGULATIONS, 2011 (AS AMENDED)]
A. Name of the parties to the proposed combination
(i) TA FDI Investors Limited (TFIL / Acquirer).
(ii) Vastu Housing Finance Corporation Limited (VHFCL / Target).
B. Nature and Purpose of the Combination
C. Products, Services and Business(es) of the Parties
TFIL / Acquirer
VHFCL / Target
D. Respective markets in which the Parties operate
There are no, (a) horizontal overlaps; and/ or (b) vertical/ complementary links between the activities of the Parties and their respective groups/ affiliates, in India. Accordingly, absent any horizontally overlapping, and/ or vertically/ complementary business activities of the Parties in India, the relevant market need not be defined and may be left open as the Proposed Transaction will not lead to any adverse effect on competition in India.
Therefore, the Proposed Transaction is being filed under the green channel route in terms of Regulation 5A and Schedule III of the Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Regulations, 2011 (as amended).
