The CCI has approved the merger of Sapphire Foods India Limited with and into which company?
- A.Navi Limited
- B.Vodafone Idea Limited
- C.Devyani International Limited
- D.Maya SAS
Correct answer
Explanation
The correct answer is Devyani International Limited. The Competition Commission of India cleared the merger of Sapphire Foods India Limited with and into Devyani International Limited along with certain related transactions. The two companies are in the same trade: each runs KFC and Pizza Hut franchise outlets in India. Devyani International is also the exclusive franchisee in India of Costa Coffee, New York Fries and Sanook Kitchen, and it owns and operates homegrown brands of its own. Option A is wrong because Navi Limited is a financial services holding company, and the order about it concerns a purchase of shareholding by MIH Payments Holdings B.V. of the Prosus group. Option B is wrong because Vodafone Idea Limited is mentioned only as the Indian presence of Vodafone Group PLC, a part of whose share capital is being bought by Vega SAS. Option D is wrong because Maya SAS is the French parent of Vega SAS and has nothing to do with the restaurant business.
Read the full article: CCI Clears Vega SAS Buy of 16.2% in Vodafone Group
Practice Questions
What share of the issued share capital of Vodafone Group PLC will Vega SAS acquire with CCI approval?
- A.9.9%
- B.16.2%
- C.26%
- D.51%
Show answer
The Competition Commission of India approved the acquisition of that share of the issued share capital of Vodafone Group PLC by Vega SAS, a holding company wholly owned by Maya SAS, a simplified joint-stock company incorporated under the laws of France.
Read the full explanation →MIH Payments Holdings B.V., cleared to acquire shareholding in Navi Limited, is a subsidiary of which company?
- A.Prosus N.V.
- B.Maya SAS
- C.Shell Overseas Investment B.V.
- D.Devyani International Limited
Show answer
MIH Payments Holdings B.V. is an indirect and wholly owned subsidiary of Prosus N.V., and by itself it does no business other than holding investments in portfolio companies that have activities in India.
Read the full explanation →Which of these is NOT among the stated aims of extending the cotton import duty exemption?
- A.Augmenting cotton availability for the domestic textile sector
- B.Supporting Micro, Small and Medium Enterprises
- C.Raising the minimum support price paid to cotton growers
- D.Promoting value addition across the textile and apparel chain
Show answer
The exemption is an import measure and has nothing to do with the price assured to farmers, although the government has said it remains conscious of farmers' interests while taking such steps.
Read the full explanation →By how long was the existing customs duty exemption on cotton imports extended?
- A.One month
- B.Two months
- C.Six months
- D.One year
Show answer
The exemption in force was available until the end of October, and the amendment carries it to the end of December, which adds exactly two months to the window.
Read the full explanation →Which department notified the extension of the customs duty exemption on cotton imports?
- A.Department of Revenue, Ministry of Finance
- B.Department of Commerce, Ministry of Commerce and Industry
- C.Department of Agriculture and Farmers Welfare
- D.Office of the Textile Commissioner, Ministry of Textiles
Show answer
Customs duty is a tax, so changes to it are notified by the revenue side of the Finance Ministry, in this case through a customs notification dated the end of October.
Read the full explanation →