Fair trade regulator Competition Commission has approved acquisition of 18.95 per cent stake in Religare Health Insurance Company by Trishikhar Ventures under the green channel route.
Trishikhar is a part of Kedaara Group, which invests in a variety of companies through acquisitions and corporate restructurings, while Religare provides general insurance products relating to health segment, the Competition Commission of India said in a press release.
The green channel concept -- recommended by the high-level panel that reviewed competition law -- allows automatic system for speedy approval for certain categories of merger and acquisitions.
Under the framework, green channel approvals can be availed in combinations where there are no horizontal overlaps, no existing or potential vertical relationships and no complementary business activities between the combining parties, or their respective group entities, or involving any entity in which any of the combining parties hold shares or have control.
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