On January 7, 2014, CCI approved the amalgamation of Mahindra Engineering Services Limited (‘MES’) with Tech Mahindra Limited (‘Tech M’). Pursuant to the proposed transaction coming into effect, all the undertakings and the entire business of MES would be transferred to Tech M.

MES is a global player engaged in the business of rendering engineering services, comprising of designing and developing parts, components, systems, and aggregates, mainly in the automotive and off-highway industry sectors. Tech M is predominantly engaged in the business of providing services relating to information technology in and outside of India. Tech M also provides engineering services to the clients largely in the aerospace, automotive, industrial hi-tech and consumer electronics sectors.

CCI also noted that Mahindra & Mahindra Limited, which directly and indirectly holds 80.69% of the share capital of MES, also holds collectively, with other promoters 36.46% of the share capital of Tech M, the remaining share capital of which is held by the public.

Based on this, CCI concluded that the proposed transaction is not likely to result in any Adverse Effect, and hence approved the proposed transaction.

For further information, please contact:

Zia Mody, AZB & Partners
zia.mody@azbpartners.com

Abhijit Joshi, AZB & Partners 
abhijit.joshi@azbpartners.com

Shuva Mandal, AZB & Partners 
shuva.mandal@azbpartners.com

Samir Gandhi, AZB & Partners
samir.gandhi@azbpartners.com

Percy Billimoria, AZB & Partners 
percy.billimoria@azbpartners.com

Aditya Bhat, AZB & Partners 
aditya.bhat@azbpartners.com