On October 30, 2017, CCI approved an acquisition of 5.615% shares in Oriental Structural Engineers Private Limited (‘OSE’) by Mr. Sanjit Bakshi (‘SB’) from GE Equity International Mauritius (‘GE’) (‘Proposed Combination’).SB is an individual director and promoter in OSE and also holds shares and directorship positions in several companies owned by the promoters of OSE. Prior to the Proposed Combination, SB held 3.78% of the shares of OSE in his individual capacity and 9.27% of the shares of OSE through his Hindu Undivided Family (‘HUF’). Further to the Proposed Combination, his personal shareholding would increase to around 9% and would hold a further 9.27% shares by way of his HUF. OSE, a private company incorporated in India, is inter- alia, engaged in the business of road construction, mining of coal and minerals in India.CCI noted that since an existing shareholder, who is also a director and promoter in OSE, would acquire shares of an exiting shareholder, i.e. GE, the Proposed Combination does not appear to change competition dynamics in the markets in which OSE is engaged. On this basis, CCI approved the Proposed Combination under sub-section (1) of Section 31 of the Act.

*Combination Registration No. C-2017/10/533).