CCI Approves Several Scheme of Arrangement

  • The Competition Commission of India (CCI) has approved the scheme of arrangement involving a list of companies.

The Proposed Combination Contemplates The Following:

  1. Amalgamation of Dhani Services Limited (Dhani/DSL) and Indiabulls Enterprises Limited (IEL) with Yaari Digital Integrated Services Limited.
  2. Amalgamation of Savren Medicare Limited Auxesia Soft Solutions Limited Gyan Sagar Buildtech Limited Pushpanjali Fin Solutions Limited Devata Tradelink Limited Evinos Developers Limited Milky Way Buildcon Limited Indiabulls Consumer Products Limited, Indiabulls Infra Resources Limited Jwala Technology Systems Private Limited Mabon Properties Limited YDI Consumer India Limited Indiabulls General Insurance Limited and Indiabulls Life Insurance Company Limited with Yaari Digital;
  3. Amalgamation of Juventus Estate Limited (Juventus Estate) with and into Yaari Digital;
  4. Demerger of the Real Estate Business Undertaking of India Land Hotels Mumbai Private Limited into Indiabulls Pharmacare Limited by way of issuance of shares by Yaari Digital, in the capacity of the holding company of Indiabulls Pharmacare.

Activities Of Companies Involved:

  • Dhani: real estate developer, technology company, NBFC, e-commerce entity, Digital Wallet providers with UPI, Stock Brokers, Commodities Brokers, Depository Services, ARC.
  • IEL: equipment renting services, management, maintenance services.
  • Sarven Medicare: healthcare, pharmaceuticals, and allied products.
  • Auxesia Software: electronic information technology development, upgradation, manufacturing, processing & upgradation of hardware, software, website.
  • Gyansagar Buildtech: development of real estate projects.
  • Pushpanjali Finsolutions: consultation relating to investment, acquiring, holding, procuring, and purchasing of all types of securities.
  • Devata Tradelink: financial consultancy services.
  • Evinos Developers: renting, and leasing of a comprehensive array of construction, infrastructure development, manufacturing and mineral handling equipment(s).
  • Milky Way Buildcon: development of real estate projects.
  • Indiabulls Consumer Products: LED lighting and related consultancy services.
  • Indiabulls Infra Resources: renting, and leasing of a comprehensive range of construction, infrastructure, manufacturing, and mineral handling equipment(s).
  • Jwala Technology Systems: electronic information technology development, upgradation, manufacturing processing and upgradation of hardware.
  • Mabon Properties: development of real estate projects.
  • YDI Consumer: manufacturing & marketing of beauty products, cosmetics, toiletries and cleaning products.
  • Indiabulls General Insurance: general insurance and health insurance under the Insurance Act, 1938 and by the Insurance Regulatory Development Authority.
  • Indiabulls Life Insurance: life insurance under the Insurance Act, 1938 and by IRDA.
  • Juventus Estate: real estate and other ancillary services.
  • India Land Hotels Mumbai: development of Commercial and Industrial infrastructure.
  • Indiabulls Pharmcare: pharma and allied business activities real estate activity (ies).
  • Yaari Digital: promoting digital financial and other solutions and having proprietary rights to the digital platform ‘Yaari’.
Posted in Current Affairs.