CCI Clears Siemens Motor Deal, Fines Intel ₹27.38 Crore
Why in the news
The Competition Commission of India cleared two takeover and investment proposals and, separately, fined Intel for anti-competitive conduct.
Key facts
- Approval 1: Innomotics India to acquire the low-voltage motor business of Siemens Limited.
- Approval 2: Fidelity Funds to take a 6.63% stake in Valuedrive Technologies (Spinny Group).
- Penalty: ₹27.38 crore on Intel Corporation.
- Reason: anti-competitive practice tied to a warranty policy specific to India in the boxed microprocessor market.
| Matter | Party | Outcome |
|---|---|---|
| Acquisition | Innomotics India / Siemens Limited motor unit | Approved |
| Stake purchase | Fidelity Funds / Valuedrive Technologies | Approved (6.63%) |
| Anti-competitive practice | Intel Corporation | ₹27.38 crore penalty |
Exam angle
- Regulator: Competition Commission of India.
- Fine on Intel: ₹27.38 crore.
- Stake bought by Fidelity Funds: 6.63%.