The Competition Commission of India (CCI) has given INSCO (Independent Sugar Corporation), a Madhvani Group company based in Africa, for green channel approval for the proposed acquisition of Hindustan National Glass (HNGIL).

Economy Business

The Competition Commission of India (CCI) has given INSCO (Independent Sugar Corporation), a Madhvani Group company based in Africa, for green channel approval for the proposed acquisition of Hindustan National Glass (HNGIL). The Commission had initiated an investigation following a complaint filed by AGI Greenpac. INSCO and AGI Greenpac had submitted bids to acquire HNGIL, India's largest glass company. INSCO emerged as the single eligible bidder and AGI's plan received the vote from COC led by SBI.


      CCI has now given a clean chit to INSCO on February 13 through an order dated February 6, 2024, dismissing the allegations leveled by AGI Greenpac against it.

     

     

 

     


          ____________________________