Honest commerce regulator Competitors Fee of India (CCI) on Tuesday accredited the acquisition of Sure Asset Administration (India) Ltd and Sure Trustee Restricted by GPL Finance and Investments Ltd. The proposed mixture envisages the acquisition of 100 per cent fairness shares of the 2 entities by GPL, as per a launch.

“By the use of these acquisitions, GPL will purchase Sure Mutual Fund and turn out to be its sole sponsor,” the discharge added.

GPL Finance is a non-deposit-taking and non-systemically vital non-banking monetary firm.

In August 2020, the non-public lender had executed a definitive settlement for the sale of 100 per cent of the fairness shareholding of Sure Asset Administration (India) Ltd and Sure Trustee Ltd, each wholly-owned subsidiaries of

to GPL Finance and Investments, it had stated in a regulatory submitting.

“White Oak Funding Administration Non-public Restricted owns 99 per cent of the purchaser. The final word useful holder of the purchaser is Prashant Khemka who owns 99.99 per cent of White Oak Funding Administration Non-public Restricted,” Sure Financial institution had stated.

In a tweet, the regulator on Tuesday stated, “Fee approves the acquisition of 100 per cent fairness shares of YES Asset Administration (India) and YES Trustee by GPL Finance and Investments.”