In accordance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Auto Components maker Pricol has lodged a preliminary objection against Minda Corporation Limited’s (Minda) application to the Competition Commission of India (CCI). CCI holds the responsibility of ensuring fair competition and preventing anti-competitive practices in the Indian market.
The objection pertains to Minda’s intention to invest in Equity Shares of Pricol Limited, up to 24.5% of the total Equity Shares of Pricol. The company has expressed its intention to provide a more detailed challenge to Minda’s application at an appropriate stage.