Potential Competition Shake-up: Bharat Forge's Watchdog Call

The Competition Commission of India (CCI) has requested public feedback on Bharat Forge's planned acquisition of AAM India Manufacturing Corporation. The deal might impact market competition, leading to a deeper review under the Competition Act. Public comments aim to ensure transparency and fair competition.

The Competition Commission of India (CCI) announced that it is seeking public comments on Bharat Forge Ltd's intended acquisition of AAM India Manufacturing Corporation Pvt Ltd. Initial conclusions suggest the merger could negatively affect competition within the market.

Last October, Bharat Forge, a major player in forging components, sought the CCI's approval to purchase AAM India Manufacturing Corporation, a manufacturer and seller of axles for commercial vehicles in India.

According to a CCI release, the proposed combination may significantly harm market competition. As a result, both parties have been ordered to publicize the deal's details, engaging public and stakeholder awareness under Section 29(2) of the Competition Act, 2002. This move is part of the CCI's role in monitoring business practices beyond a stipulated threshold across various sectors.

(With inputs from agencies.)