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Review of Minda-Pricol deal put on ice, as court tells antitrust regulator to suspend review

By Freny Patel ( May 26, 2023, 01:12 GMT | Insight) -- Pricol has managed to temporarily block Minda from increasing its shareholding through an interim order passed by the Madras High Court on Thursday. The court-imposed order means that the Competition Commission of India will have to suspend its review of the controversial transaction that, if approved, will see Minda increase its stake in Pricol from the existing 15.7 percent to 24.5 percent. The court order also listed both the CCI and the Indian government as party to the case. Minda Corporation’s bid to further increase its shareholding in auto-component manufacturer Pricol is facing headwinds in India, with the Madras High Court issuing an interim order preventing the antitrust watchdog from reviewing Minda’s merger application....

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