The Competition Commission of India (CCI) CCI approves the merger of Tata Cleantech Capital Limited (TCCL) and Tata Capital Financial Services Limited (TCFSL) into Tata Capital Limited (TCL). The proposed combination is a merger of TCFSL and TCCL into TCL.
TCL is registered with the Reserve Bank of India (RBI) as a Systematically Important Non-Deposit Accepting Core Investment Company (CIC) and mainly holds investments in its subsidiaries, which engage in lending and offer a wide range of services and products in the sector financial services, including private equity fund management and/or advisory services, as permitted by the directives and guidelines issued by the RBI for CIC from time to time.
TCFSL is a wholly owned subsidiary of TCL and is registered with the RBI as a systemically important non-bank non-deposit finance company and is primarily engaged in lending services and offering services and products in the financial services industry.
TCCL is a subsidiary of TCL and is registered with the RBI as a non-bank finance company which does not accept systemically important deposits. TCCL is engaged in providing cash flow-based financing and advisory services for renewable energy, energy efficiency, waste management, water management and other infrastructure projects.
A detailed order from the ICC will follow.