The Competition Commission of India has approved the acquisition of certain shareholding of BALIC by BLVPL from AXA India Holdings and acquisition of certain shareholding of BMSL by BEL from Société Beaujon.

The Competition Commission of India (CCI) has approved the acquisition of certain shareholding of BALIC by BLVPL from AXA India Holdings and the acquisition of certain shareholding of BMSL by BEL from Société Beaujon. BLVPL and BEL, which are the 'acquirers' of the proposed transaction, belong to the Bharti Group. BLVPL is a private company incorporated in India. It is a holding company and its sole investment is in BALIC. BEL is a public unlisted company incorporated in India. It is involved in the provision of management consultancy services. It is involved in the business of providing life insurance policies. The target in the Proposed Transaction 2 is BMSL, a public unlisted company incorporated in India. It was earlier involved in the business of providing management consultancy and other consulting services. However, BMSL has not been operational in the provision of consultancy services for the last two years and currently earns its income only from other sources (such as rental and interest income).