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TMI Blog2015 (4) TMI 22X X X X Extracts X X X X X X X X Extracts X X X X ..... wned general stores and shops, hawkers, pavement vendors etc. As per the publically available information, in the year 2012, unorganised players controlled approximately 92 per cent share of the overall retail market in India. The organised retail market, which was approximately 8 per cent of the overall retail market in 2012, is expected to account for 20 per cent by 20202. Some of the large players who have been operating in the organised retail market in India are Reliance Retail, Future Retail, Spencer's Retail, Bharti Retail, Aditya Birla's 'More', Shoppers Stop etc. Additionally, due to increased internet penetration and changing lifestyles, the Indian retail market has also witnessed a surge in online retailers which ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... TION 31(1) OF THE COMPETITION ACT, 2002 1. On 31st March 2014, the Competition Commission of India (hereinafter referred to as the Commission ) received a notice under sub-section (2) of Section 6 of the Competition Act, 2002 (hereinafter referred to as the Act ), relating to the proposed acquisition of 50 percent of the issued and paid-up equity share capital of Trent Hypermarket Limited (hereinafter referred to as THL ) by Tesco Overseas Investments Limited (hereinafter after referred to as TOIL or Acquirer ). The notice was given by TOIL pursuant to the execution of a Joint Venture Agreement and a Share Purchase Agreement between TOIL, THL and Trent Limited (hereinafter referred to as Trent ) on 21st March 2014. The proposed c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ement ( WSA ) with THL to supply merchandise to the THL's retail stores. In addition, Tesco Group provided expertise and technical know-how to THL pursuant to the Franchise and Technical Services Agreement executed between THL and Tesco Stores Limited. On 21st March 2014, THWPL and THL have entered into the WSA Amendment Agreement to terminate the WSA. THL and Tesco Stores Limited, through the Franchise and Technical Services Termination Agreement dated 21st March 2014, have also agreed to terminate the terms of the Franchise and Technical Services Agreement. 4. In terms of Regulation 14 of the Combination Regulations, vide letter dated 22nd April 2014, the Acquirer was required to remove certain defects and provide information/docum ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... surge in online retailers which has widened the choice for the consumers. THL currently operates only 16 retail stores across various locations in India and its total revenue, as per the annual report of Trent, during the financial year 2012-13 was only around INR 785 crores, which is insignificant as compared to the size of the overall retail market as well as the organised retail market in India. 6. The Government of India has allowed 51 per cent FDI in the multi-brand retail, subject to specified conditions and leaving its implementation upon the discretion of the state governments. As the FDI policy regarding multi brand retailing has not been implemented in the states of Gujarat and Tamil Nadu, THL has entered into a Stores Transfe ..... X X X X Extracts X X X X X X X X Extracts X X X X
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