CCI approves Godrej group's family settlement proposals

New Delhi [India], June 19 : The Mumbai-based Godrej Group has received approval from the Competition Commission of India (CCI) for its realignment plans of interests, legal ownership, and management of various entities within the group.
This realignment is part of a mutual arrangement among members of the Godrej family branches, including Adi Godrej and family (ABG Family), Nadir Godrej and family (NBG Family), Jamshyd Godrej and family (JNG Family), and Smita Crishna and family (SVC Family). The process will be carried out in accordance with the Family Settlement Agreement dated April 30, 2024 (FSA), the CCI said in a release on June 18.
The GILAC Group Entities and the G&B Group Entities are the target businesses that are part of the proposed combination.
Godrej Industries Limited, Godrej Consumer Products Limited, Godrej Properties Limited, and Godrej Agrovet Limited are among the GILAC Group entities. Godrej Seeds & Genetics Limited, Astec Lifesciences Limited, Innovia Multiventures Private Limited, and Anamudi Real Estates LLP are also part of the group.
Godrej & Boyce Manufacturing Company Limited (a), Godrej Holdings Private Limited (b), Godrej Infotech Limited (c), and RKN Enterprises (d) are the entities that make up the G&B Group.
In Tuesday's trading, Godrej Consumer Products Ltd.'s shares increased by 0.51 per cent to Rs 1400.15. During the session, it reached a high of Rs 1405.1 and a low of Rs 1380.0.
Established in 1897 by Ardeshir and Pirojsha Burjorji Godrej, the company is active in several businesses, such as consumer goods, real estate, industrial engineering, furniture, appliances, security, and agricultural items.