CCI approves merger of Tata Cleantech Capital Limited (TCCL) and Tata Capital Financial Services Limited (TCFSL) into Tata Capital Limited (TCL)
The Competition Commission of India (CCI) CCI approves 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 primarily holds investments in its subsidiaries, which are engaged in lending and offering a wide array of services and products in the financial services sector, including advising and / or management of private equity funds, as are permitted under the directions and guidelines issued by the RBI for CICs from time to time.TCFSL is a wholly-owned subsidiary of TCL and is registered with the RBI as a Systemically Important Non-Deposit Accepting Non-Banking Financial Company and is mainly engaged in the lending services and offering services and products in the financial services sector.TCCL is a subsidiary of TCL and is registered with the RBI as a Systemically Important Non-Deposit Accepting Non-Banking Financial Company. TCCL engages in the business of providing cash flow-based finance and advisory services for projects in renewable energy, energy efficiency, waste management, water management and other infrastructure projects.Detailed order of the CCI will follow.
