PE/VC & Competition Law

Cross-border share swaps have emerged as a sophisticated mechanism in global mergers and acquisitions, enabling exchange of equity securities without real flow of remittance of investment amount as compared to an ordinary investment transaction in relation to subscription of securities. In principle, a share swap is a transaction enabling a shareholder of a company to […]

In a move towards ensuring investor protections, the Competition Commission of India (“CCI”) penalized Goldman Sachs (India) Alternative Investment Management Private Limited (“GS AIF”), the investment manager of Goldman Sachs AIF Scheme-1, INR 4,000,000/- (Indian Rupees Four million), in an order dated January 14, 2025 (“CCI Order”). The case pertained to GS AIF’s investment in