"IndusLaw has successfully defended Independent National Sugar Corporation Limited (INSCO) before the Competition Commission of India (CCI) against a complaint filed by AGI Greenpac Limited (AGI Greenpac) against INSCO alleging gun-jumping and misrepresentation in relation to the CCI's approval for its proposed acquisition of Hindusthan National Glass and Industries Limited (HNG), under the 'green channel' route.
INSCO is a part of Madhvani family, which is one of the largest private-sector investors in East Africa. Notably, both INSCO and AGI Greenpac have been engaged in a legal tussle to secure control of debt-ridden HNG, which is undergoing corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016.
The IndusLaw competition team comprised Partner, Unnati Agrawal and Associates, Swapnil Singh and Hrishav Kumar, and Trainee Associate, Parth Mishra. Previously, the IndusLaw competition team had also represented INSCO in securing an approval of the CCI, under the 'green channel' route for its proposed acquisition of HNG."