Merger of Aditya Marketing and Manufacturing Private Limited into Umang Commercial Company

Competition Commission of India (CCI) approves merger of Aditya Marketing and Manufacturing Private Limited into Umang Commercial Company Private Limited. Umang Commercial Company Private Limited (Acquirer) is part of the Aditya Birla Group, an Indian multinational conglomerate with presence in more than 30 countries and doing business in various industries. The acquirer is an investment holding company and holds shares in various entities on behalf of Mr. Kumar Mangalam Birla and/or his family. The acquirer is registered with the Reserve Bank of India (RBI) as a non-banking finance company (NBFC).
Aditya Marketing and Manufacturing Private Limited (Target) is part of the B K Birla Group, a diversified group operating in various industries. The Target is an investment holding company and holds stakes in various entities on behalf of late Mr. Basant Kumar Birla and his family (BKB Family). The target is registered with RBI as an NBFC. The proposed combination involves the merger of Target into the Acquirer in accordance with the Scheme of Amalgamation under Sections 230 and 232 of the Companies Act 2013 (the Scheme). As a result of the merger and under the Scheme, the shares held by the Target Entity in various entities will be transferred to the Acquirer. As a result, the Acquirer Group will acquire control over the following and unlisted entities:
A. Padmavati Investment Private Limited;
b. Pilani Investment and Industries Corporation Limited;
C. Century Textiles and Industries Limited;
d. Century Enka Limited; and
E. Ganesh Tubes and Services Private Limited.
Collectively referred to as the “Proposed Combination”. The CCI approved the proposed combination subject to the modifications offered by the acquirer.
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