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The Commission in its order made it clear that going forward, any disregard to the conditions for availing the green channel would be dealt with seriously.
In December 2022, the Competition Commission of India (CCI) received a notice jointly given by Platinum Trust, acting through Platinum Trustee, and TPG Upswing in relation to the combination. The regulator noted that the UPL SAS acquisition has been consummated on or before February 17 2023, as the notifying parties (ADIA and TPG) gave the notice under the facility of green channel approval.
The memorandum of understanding (MoU) with NSL Sugars will indirectly add about 50,000 farmers across Telangana, Karnataka and Maharashtra, UPL Sustainable Agriculture Solutions (UPL SAS) said.