The Competition Commission of India (CCI) has approved the proposed acquisition of 20.51% equity shares of Indo Rama Synthetics (India) Limited (IRSL) by Mr. Aloke Lohia from Brookgrange Investment Limited and transfer of 20.51% equity shares of IRSL to Ms. Urmila Lohia by Mr. Aloke Lohia.
The proposed combination involves:
- Acquisition of 20.51% equity shares of IRSL from Brookgrange Investment Limited by Mr. Aloke Lohia; and
- Transfer of 20.51% equity shares of IRSL to Ms. Urmila Lohia (by way of gift) by Mr. Aloke Lohia.
Mr. Aloke Lohia and Ms. Urmila Lohia are natural persons and promoters of IRSL.
IRSL is engaged in the manufacture and supply of polyester fibres and filaments such as polyester chips, polyester fibres and polyester yarns.
Detailed order of the CCI will follow.