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IDFC LIMITED - Approval Of The Competition Commission Of India To The Proposed Divestment Of IDFC Asset Management Company Limited And IDFC AMC Trustee Company Limited
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02 Aug 2022
Dear Sir/ Madam, This is with reference to our letter dated April 06, 2022, about the decision of the Board of Directors of IDFC Limited (&apos;the Company&apos;) and IDFC Financial Holding Company Limited (&apos;IDFC FHCL&apos;) approving the divestment of IDFC Asset Management Company Limited and IDFC AMC Trustee Company Limited, subject to receipt of applicable regulatory and other approvals. In this regard, we would like to inform you that the Competition Commission of India (&apos;CCI&apos; or &apos;the Commission&apos;) has, vide its letter dated August 01, 2022, informed that the Commission, at its meeting held on August 01, 2022, considered the proposed combination (Comb. Reg. No. C-2022/05/928) and approved the same under sub-section (1) of Section 31 of the Competition Act, 2022. Copy of the approval letter is enclosed as Annexure-1. The Proposed divestment remains subject to receipt of approvals from Reserve Bank of India (&apos;RBI&apos;) and Securities and Exchange Board of India (&apos;SEBI&apos;).
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