New Delhi: The Competition Commission of India approved the Hinduja Leyland Finance merger with and into NDL Ventures Limited, clearing the proposed consolidation of the non-banking finance company’s operations.
The proposed combination seeks to merge and consolidate the business of Hinduja Leyland Finance Limited into NDL Ventures Limited. The Commission granted approval under the Competition Act. A detailed order will follow separately.
NDL Ventures Limited currently does not have active business operations. Therefore, the transaction will transfer and consolidate the lending activities of Hinduja Leyland Finance into NDL.
Hinduja Leyland Finance Limited operates as an NBFC-Asset Finance Company. It provides small ticket loans to urban and semi-urban retail customers. In addition, the company finances a wide range of vehicles.
These include two-wheelers, three-wheelers, medium and heavy commercial vehicles and light commercial vehicles. It also funds small commercial vehicles, cars and multi-utility vehicles. Moreover, the NBFC offers loans against property and affordable housing loans.
CCI clears merger under competition review
The Competition Commission examined the structure and market impact of the transaction. After review, it approved the combination without raising competitive concerns at this stage.
Regulatory clearance now enables the parties to proceed with implementation, subject to applicable laws. The Commission will issue its detailed reasoning in a subsequent order.
