CCI okays Essel MF acquisition by Sachin Bansal's BAC under 'green channel'

The Competition Commission of India (CCI) has given its approval under the 'green channel' route to acquisition of Essel Mutual Fund by a Sachin Bansal-owned entity.

This is the first clearance under the 'green channel' route, a speedier approval mechanism put in place by the CCI.

In a tweet on Monday, the CCI said it has accorded 'green channel' approval for the acquisition of Essel Finance Asset Management Company and Essel Mutual Fund by BAC Acquisitions Pvt Ltd.

BAC Acquisitions is a private company founded by Sachin Bansal, a co-founder of Flipkart who exited the e-commerce company as part of a deal in