This is the new MLex platform. Existing customers should continue to use the existing MLex platform until migrated.
For any queries, please contact Customer Services or your Account Manager. Dismiss

AGI Greenpac-HNG deal approval challenged in India by competing bidder Madhvani

By Freny Patel ( May 31, 2023, 02:51 GMT | Insight) -- Independent Sugar has challenged the merger clearance granted to AGI Greenpac to acquire debt-ridden Hindustan National Glass, claiming the country’s competition regulator should never have green-lighted the deal without a quorum of three commissioners. The Madhvani-owned Independent Sugar has taken the Competition Commission of India to the National Company Law Appellate Tribunal, arguing the agency had been wrong to invoke the “doctrine of necessity” to clear the acquisition in March. However, sources have told MLex that a recent court ruling in the Google in-app billing-policy case could prompt the Tribunal to uphold the regulator’s decision. Independent Sugar has challenged the merger clearance granted to AGI Greenpac to acquire debt-ridden Hindustan National Glass, or HNG, claiming that the country’s competition regulator should never have green-lighted the deal without a quorum of three commissioners....

Prepare for tomorrow’s regulatory change, today

MLex identifies risk to business wherever it emerges, with specialist reporters across the globe providing exclusive news and deep-dive analysis on the proposals, probes, enforcement actions and rulings that matter to your organization and clients, now and in the longer term.


Know what others in the room don’t, with features including:

  • Daily newsletters for Antitrust, M&A, Trade, Data Privacy & Security, Technology, AI and more
  • Custom alerts on specific filters including geographies, industries, topics and companies to suit your practice needs
  • Predictive analysis from expert journalists across North America, the UK and Europe, Latin America and Asia-Pacific
  • Curated case files bringing together news, analysis and source documents in a single timeline

Experience MLex today with a 14-day free trial.

Start Free Trial

Already a subscriber? Click here to login