CCI approves merger of 51 Malabar Group companies into Malabar Gold and Diamonds Ltd

📌 Summary:

• The Competition Commission of India (CCI) approved the merger of 51 Malabar Group companies (Transferor Companies) with and into Malabar Gold and Diamonds Limited (Transferee Company)
• Most transferor companies are engaged in the jewellery business
• Malabar Gold and Diamonds is the flagship company of the Malabar Group — manufacturing, trading, retailing, importing and exporting gold, diamonds, bullion, silver, platinum and precious stones
• Detailed order of the Commission will follow

🎯 UPSC Relevance: GS2 Polity/Statutory Bodies — CCI's mandate to regulate combinations (mergers/acquisitions) and prevent appreciable adverse effect on competition (AAEC) under the Competition Act, 2002.

📝 Prelims Facts:

• CCI is a statutory body established under the Competition Act, 2002
• CCI approval is required for combinations above prescribed asset/turnover thresholds

🔑 Key Term: Combination (Competition Act) — a merger, amalgamation or acquisition above notified thresholds that requires CCI clearance to prevent anti-competitive effects.