{"id":103437,"date":"2023-05-25T14:00:23","date_gmt":"2023-05-25T08:30:23","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=103437"},"modified":"2023-05-25T14:00:25","modified_gmt":"2023-05-25T08:30:25","slug":"pricol-moves-madras-hc-challenging-validity-of-mindas-application-to-cci-to-buy-24-5-stake","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/pricol-moves-madras-hc-challenging-validity-of-mindas-application-to-cci-to-buy-24-5-stake\/","title":{"rendered":"Pricol moves Madras HC challenging validity of Minda&#8217;s application to CCI to buy 24.5% stake"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2166805395\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Auto components maker Pricol Ltd on Thursday said it has moved the Madras High Court challenging the validity of the application of rival Minda Corporation to the Competition Commission of India to acquire a 24.5 per cent stake in it.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-455782218\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>Minda Corporation had earlier this month decided to approach the CCI to increase its stake in Pricol to up to 24.5 per cent, following the acquisition of a 15.7 per cent stake by purchasing over 1.91 crore shares of the latter from the open market on February 17, 2023.<\/p><p>In a regulatory filing, Pricol said it has filed a writ petition before the Madras High Court in connection with Minda Corporation Ltd&#8217;s (Minda&#8217;s) application to the CCI.<\/p><p>The petitions challenged the validity of the application of Minda to the CCI, for making investment in equity shares of Pricol Ltd up to 24.5 per cent of total equity shares, it added.<\/p><div class=\"trade-content_5\" id=\"trade-3820410546\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>The Division Bench of the High Court on May 24, 2023 &#8220;admitted the writ petition and restrained by way of an interim order, the taking on file and\/or adjudicating the Minda Corporation Ltd&#8217;s application to CCI, and issued notice to the opposite parties,&#8221; the company said.<\/p><p>The Union of India, CCI and Minda have been named as opposing parties.<\/p><p>After buying the stake in February, Minda had maintained that it was a mere financial investment.<\/p><p>On the other hand, the promoter family of Pricol, led by its Chairman Vanitha Mohan and Managing Director Vikram Mohan, who hold 36.53 per cent in the company had stated that they had no intention to sell their holdings.<\/p><p>Pricol and Minda compete in the two-wheeler instrument cluster business.<\/p><div class=\"trade-after-content\" id=\"trade-3339760709\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Auto components maker Pricol Ltd on Thursday said it has moved the Madras High Court challenging the validity of the application of rival Minda Corporation to the Competition Commission of India to acquire a 24.5 per cent stake in it. Minda Corporation had earlier this month decided to approach the CCI to increase its stake [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":21447,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-103437","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Pricol moves Madras HC challenging validity of Minda&#039;s application to CCI to buy 24.5% stake - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"Auto components maker Pricol Ltd on Thursday said it has moved the Madras High Court challenging the validity of the application of rival Minda Corporation to the Competition Commission of India to acquire a 24.5 per cent stake in it.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/pricol-moves-madras-hc-challenging-validity-of-mindas-application-to-cci-to-buy-24-5-stake\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pricol moves Madras HC challenging validity of Minda&#039;s application to CCI to buy 24.5% stake\" \/>\n<meta property=\"og:description\" content=\"Auto components maker Pricol Ltd on Thursday said it has moved the Madras High Court challenging the validity of the application of rival Minda Corporation to the Competition Commission of India to acquire a 24.5 per cent stake in it.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tradebrains.in\/features\/pricol-moves-madras-hc-challenging-validity-of-mindas-application-to-cci-to-buy-24-5-stake\/\" \/>\n<meta property=\"og:site_name\" content=\"Trade Brains Features\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TradeBrainsOfficial\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-25T08:30:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-25T08:30:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/Minda-Cover-Image.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"854\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"PTI News\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/Minda-Cover-Image.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:site\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"PTI News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tradebrains.in\/features\/pricol-moves-madras-hc-challenging-validity-of-mindas-application-to-cci-to-buy-24-5-stake\/\",\"url\":\"https:\/\/tradebrains.in\/features\/pricol-moves-madras-hc-challenging-validity-of-mindas-application-to-cci-to-buy-24-5-stake\/\",\"name\":\"Pricol moves Madras HC challenging validity of Minda's application to CCI to buy 24.5% stake - 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