CCI approves acquisition of Sharekhan, Human Value Developers by Mirae Asset

The Competition Commission of India (CCI) on Tuesday said it has approved the proposed acquisition of Sharekhan Ltd and Human Value Developers Pvt Ltd by Mirae Asset Capital Markets (India) and Mirae Asset Securities. Sharekhan Ltd is engaged in the business of stock broking, commodities/currency derivatives broking.

"CCI has approved acquisition of 100 per cent 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 (MAS) is a public limited company, while Mirae Asset Capital Markets (India) is a wholly owned subsidiary of MAS.

Human Value Developers Pvt Ltd (HVDPL) is an investment holding company that holds certain stake in Sharekhan and does not undertake any other business activity. In another release, CCI said it has approved Piramal Alternatives Trust for the proposed acquisition of 10.39 per cent stake in Annapurna Finance.

Piramal Alternatives Trust is a trust belonging to Piramal Enterprises Ltd. "The Competition Commission of India (CCI) has approved the acquisition of 10.39 per cent shareholding of Annapurna Finance Pvt Ltd and subscription to its certain debentures by Piramal Alternatives Trust," the release said.