Luthra wins stay of CAM's Holcim-Lafarge mega-merger before Compat

Wednesday, 13 April 2016 By Legally India Competition Law

The Competition Appellate Tribunal (COMPAT) has stayed the roughly Rs 10,000 crore merger of cement giants Holcim and Lafarge, which in February had received Competition Commission of India (CCI) clearance with assistance from Cyril Amarchand Mangaldas advising.

Luthra & Luthra had applied for the stay before Compat on behalf of Dalmia cements, reported Business Standard.

Luthra partner Abdullah Hussain told the paper: “The Competition Appellate Tribunal (COMPAT) has today stayed the Holcim-Lafarge merger. This means Lafarge can’t sell its India assets to any buyer in the meantime.

“We argued before COMPAT that CCI’s second order is invalid as there is no provision under the Act which gives CCI the power to pass the second order when the first order has not been followed. COMPAT prima facie accepted our arguments and has stayed the operation of the CCI’s order till the next date of hearing.”

Competition Appellate Tribunal (COMPAT)Luthra & LuthraCyril Amarchand MangaldasL&L Partners

Comments

What about Luthra? 13 Apr 2016, 11:47
+1 -0
Kian, what about promotions at Luthra and Luthra? Any updates on when those might happen?
kianganz 13 Apr 2016, 11:49
+1 -1
I think that's normally later in the year, though there's not necessarily a strict timeline at Luthra for these.

AZB will be later this month or early next, I think...
LOL 13 Apr 2016, 12:02
+2 -1
You have got to be kidding me.
Lafarge bechara 13 Apr 2016, 12:08
+2 -5
Must be now wishing they had Pallavi Shroff!
Interesting 13 Apr 2016, 12:51
+3 -3
With Ashwath's move, they may have her soon!
Kramer 13 Apr 2016, 14:03
+8 -0
Didn't they replace Pallavi with Uberoi? Aint no going back from there. Kian - please share the Compat order
A little birdie told m 14 Apr 2016, 07:04
+3 -2
Holcim will move it's corporate business with Ashwath, but they weren't happy with AZB competition during the lafarge deal. All roads lead to Pallavi
Birdie got high? 15 Apr 2016, 10:06
+2 -1
Won't be happy with Pallavi either. Unless there are CCI members to lobby
Chemicals 15 Apr 2016, 13:40
+3 -0
They were happy with her before the split, right? From what I know, Ashwath was doing their corporate and the competition work was being run out of Delhi. Kian can probably confirm from his stories about the cement cci decision, and the holcim lafarge clearance decision.

Also, the SAM Delhi office has more partners than operative sections of the competition act, so surely someone if not pallavi can handle their work?

All of this is obviously moot if Nisha moves with Ashwath to AZB :)
Whaat! 16 Apr 2016, 04:41
+1 -0
Nisha's moving to AZB? Or is this rank speculation

What will happen to Samir? or will they run Delhi and Bombay separately?

Kian please confirm if any of this is true or if chemicals is on chemicals
Chemically fit 18 Apr 2016, 06:48
+2 -1
There is no client in India today who would be unhappy with Pallavi Shroff! But apart from her and all ye faithful Harman, the other partners might as well practice MRTP.

BTW, all sections are operative but only 4 sections set out prohibitions/compliance provisions - you must be a SAM competition partner after all!
Scooter- 13 Apr 2016, 13:40
+4 -1
even my sleeping dog can get a stay for such a a big matter!! whats the bid deal! The balance of convenience is in the favour of the person seeking the stay in this case! yawn
wtf 13 Apr 2016, 17:15
+10 -1
Do you practise commercial law? What do you know about m&a? This order brings down ease of doing business by a zillion per cent. Stay in regulatory matters should not come easy, not when the subject matter is a combination. Enforcement matters stand on a different footing. Anyone and everyone can now challenge a merger order and get a goddamn stay.

Stop scooting and study law. Something you ought to have done in law school, assuming you went to one.
Anan 13 Apr 2016, 18:38
+3 -1
Were senior counsels engaged?? Just asking since all taking credit
For Example 14 Apr 2016, 06:53
+5 -1
Senior Counsels were not engaged, but am sure Senior Counsel were :-)
Sumanth 14 Apr 2016, 16:01
+2 -1
Good work Hussain!
Stay order certainly is a matter of concern in the international arena....Vodafone is still out there....
ONE TIGHT SLAP 18 Apr 2016, 15:28
+1 -0
:)
Note Pl 9 May 2016, 10:23
+1 -0
I heard Dalmia (rep by Luthra) withdrew their appeal. Kian do you have any information.
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