Fair trade regulator Competition Commission of India (CCI) on Tuesday cleared Motilal Oswal Alternates' acquisition of stake in SK Finance Ltd.
SK Finance is a Reserve Bank of India-registered Non-Banking Financial Company (NBFC), engaged in the business of providing financing for vehicles (new and used) and loans to micro small and medium enterprises.
The deal relates to the minority investment by India Business Excellence Fund-IV in SK Finance Ltd.
India Business Excellence Fund-IV is a Sebi-registered Alternative Investment Fund (AIF). The latter primarily invests in equity and equity-linked instruments and is an affiliate/fund of Motilal Oswal Alternates.
"CCI approves the proposed combination relating to minority investment by India Business Excellence Fund-IV in SK Finance Ltd," according to a post by CCI on social media platform X.
Deals beyond a certain threshold require approval CCI, which keeps a tab on unfair business practices as well as promotes fair competition in the marketplace.