Honest-trade regulator CCI on Thursday mentioned it has accepted the acquisition of SREI Infrastructure Finance Ltd. by Nationwide Asset Reconstruction Firm Ltd. and India Debt Decision Firm Ltd.

The deal has been cleared underneath the inexperienced channel route.

Nationwide Asset Reconstruction Firm is an asset reconstruction firm, whereas India Debt Decision Firm gives debt administration providers to NARCL. Each entities are backed by the federal government of India.

The proposed transaction includes the acquisition of a majority of fairness share capital of the Srei Infrastructure Finance by NARCL and IDRCL, in line with a CCI discover.

NARCL has submitted a decision plan in relation to the company insolvency decision technique of SIFL and its wholly-owned subsidiary, SREI Tools Finance Ltd.

Thereafter, NARCL’s decision plan was accepted by the Committee of Collectors of the SIFL on Feb. 14, the discover mentioned.

The Competitors Fee of India has cleared the deal.

SIFL and its subsidiaries are engaged in offering financing and leasing for the procurement of infrastructure gear, monetary advisory providers, insurance coverage broking providers, and service provider banking providers.

“On condition that there aren’t any horizontal overlaps or vertical or complementary linkages between the actions of the events, the proposed transaction is being notified underneath the inexperienced channel,” CCI mentioned.

Below the inexperienced channel route, whereby a transaction that doesn’t increase any considerable threat of an adversarial impact on competitors, is deemed to be accepted upon being intimated to the anti-trust regulator.