Competition Commission of India press release · 25 March 2026 · pibtracker filter

CCI approves proposed acquisition of additional shareholding of Valuedrive Technologies Pvt Ltd by Setu AIF Trust, Konark Trust, and MMPL Trust

PRID2245409 MinistryCompetition Commission of India Released25 March 2026 Reading7 min

Posted On: 25 MAR 2026 8:37PM by PIB Delhi The Competition Commission of India (CCI) has approved the proposed acquisition of additional shareholding of Valuedrive Technologies Private Limited by Setu AIF Trust, Konark Trust, and MMPL Trust. The proposed combination entails the acquisition of certain additional shareholding (on a fully diluted basis) of Valuedrive Technologies Private Limited ( Target ) by Setu AIF Trust, Konark Trust, and MMPL Trust ( Acquirers ). Setu AIF Trust is a Category II alternative investment fund registered with the Securities and Exchange Board of India. Further, Konark Trust and MMPL Trust are both private trusts, acting through their respective trustees, that co-invest along with Setu AIF Trust. The Target is a private limited company incorporated in India acting as an operating cum-holding company for the ‘Spinny Group’. It is primarily engaged in the business of operating an electronic platform for sellers to provide details of used motor vehicles, which are purchased by the Target and subsequently sold on a wholesale / business-to-business basis. The Target also has subsidiaries that are engaged in the provision of loans and lending services to its customers; distribution of motor insurance in the capacity of a broker (largely to its own customers); printing and publishing of specialty magazines; online content and organizing events with respect to the automotive sector; and certain ancillary and incidental services. Detailed order of the Commission will follow. ***** NB/ONP (Release ID: 2245409) Visitor Counter : 342 Read this release in: Urdu , हिन्दी Competition Commission of India CCI approves proposed acquisition of additional shareholding of Valuedrive Technologies Pvt Ltd by Setu AIF Trust, Konark Trust, and MMPL Trust Posted On: 25 MAR 2026 8:37PM by PIB Delhi The Competition Commission of India (CCI) has approved the proposed acquisition of additional shareholding of Valuedrive Technologies Private Limited by Setu AIF Trust, Konark Trust, and MMPL Trust. The proposed combination entails the acquisition of certain additional shareholding (on a fully diluted basis) of Valuedrive Technologies Private Limited ( Target ) by Setu AIF Trust, Konark Trust, and MMPL Trust ( Acquirers ). Setu AIF Trust is a Category II alternative investment fund registered with the Securities and Exchange Board of India. Further, Konark Trust and MMPL Trust are both private trusts, acting through their respective trustees, that co-invest along with Setu AIF Trust. The Target is a private limited company incorporated in India acting as an operating cum-holding company for the ‘Spinny Group’. It is primarily engaged in the business of operating an electronic platform for sellers to provide details of used motor vehicles, which are purchased by the Target and subsequently sold on a wholesale / business-to-business basis. The Target also has subsidiaries that are engaged in the provision of loans and lending services to its customers; distribution of motor insurance in the capacity of a broker (largely to its own customers); printing and publishing of specialty magazines; online content and organizing events with respect to the automotive sector; and certain ancillary and incidental services. Detailed order of the Commission will follow. ***** NB/ONP (Release ID: 2245409) The Competition Commission of India (CCI) has approved the proposed acquisition of additional shareholding of Valuedrive Technologies Private Limited by Setu AIF Trust, Konark Trust, and MMPL Trust. The proposed combination entails the acquisition of certain additional shareholding (on a fully diluted basis) of Valuedrive Technologies Private Limited (Target) by Setu AIF Trust, Konark Trust, and MMPL Trust (Acquirers). Setu AIF Trust is a Category II alternative investment fund registered with the Securities and Exchange Board of India. Further, Konark Trust and MMPL Trust are both private trusts, acting through their respective trustees, that co-invest along with Setu AIF Trust. The Target is a private limited company incorporated in India acting as an operating cum-holding company for the ‘Spinny Group’. It is primarily engaged in the business of operating an electronic platform for sellers to provide details of used motor vehicles, which are purchased by the Target and subsequently sold on a wholesale / business-to-business basis. The Target also has subsidiaries that are engaged in the provision of loans and lending services to its customers; distribution of motor insurance in the capacity of a broker (largely to its own customers); printing and publishing of specialty magazines; online content and organizing events with respect to the automotive sector; and certain ancillary and incidental services.                                                                   Detailed order of the Commission will follow. ***** NB/ONP " /> var mPlayer = document.getElementById("background_music"); var mPlayAction = document.getElementById("playbutton"); var isPlaying = false; function playAudio() { mPlayer.play(); isPlaying = true; document.getElementById('stopA').style.display = "block"; document.getElementById('playA').style.display = "none"; } function pauseAudio() { mPlayer.pause(); isPlaying = false; document.getElementById('playA').style.display = "block"; document.getElementById('stopA').style.display = "none"; } //function HandleAudio() { // if (isPlaying == true) { // //Playing already Pause it // pauseAudio(); // } else { // //Play the music // playAudio(); // } //} var synth = window.speechSynthesis; function CleanHtml(html) { html = html.replace(/ /gi, ''); return html; } function stripHtml(html) { let tmp = document.createElement("DIV"); tmp.innerHTML = CleanHtml(html); return tmp.textContent || tmp.innerText || ""; } $(document).ready(function () { //for responsive tables $("table").each(function () { if (!$(this).closest(".table-responsive").length) { $(this).wrap(" "); } }); var width = $(window).width(); if (width $(document).ready(function () { var width = $(window).width(); if (width @media print { .sticky-social, .sticky-social_mb, .pull-right, #printPDF { display: none !important; } } .f_vl { padding-right: 30px; font-size: 17px; cursor: pointer; } .log_oo { // width: 20%; display: flex; justify-content: space-between; } .log_oo img { width: 150px; /*width: 100%; height: auto;*/ } .sticky-social_mb { position: fixed; bottom: 0px; padding: 0px; margin: 0px; width: 100%; } .social_mb { list-style: none; 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height: auto !important; } p img { max-width: 90% !important; height: auto !important; } h2 { font-size: 20px !important; font-weight: 600 !important; } h3 { font-size: 18px !important; font-weight: 600 !important; } } /* === Film Roll Badge Styling(IFFI2025 countdown) === */ .film-roll-badge { position: absolute; top:82%; right: 20px; width: 230px; height: 70px; background: repeating-linear-gradient( to right, #9a2375 0px, #9a2375 18px, #6e2b8b 18px, #6e2b8b 36px ); border-top: 8px solid #9a2375; border-bottom: 8px solid #9a2375; border-radius: 8px; overflow: hidden; box-shadow: 0 4px 12px rgba(0, 0, 0, 0.4); animation: moveFilm 8s linear infinite; z-index: 10; } /* film sprocket holes */ .film-roll-badge::before, .film-roll-badge::after { content: ""; position: absolute; width: 100%; height: 10px; background: repeating-linear-gradient( to right, #9a2375 0px, #9a2375 10px, #fff 10px, #fff 20px ); left: 0; z-index: 2; } .film-roll-badge::before { top: -4px; } .film-roll-badge::after { bottom: -4px; } .film-roll-inner { position: relative; height: 100%; display: flex; align-items: center; justify-content: center; animation: flicker 2s infinite ease-in-out; } .countdown-text { font-size: 1.3rem; font-weight: 700; color: #fff; text-shadow: 0 0 6px rgba(255, 255, 255, 0.4), 0 0 10px #000; white-space: nowrap; } /* === Animations === */ @keyframes moveFilm { 0% { background-position: 0 0; } 100% { background-position: 120px 0; } } @keyframes flicker { 0%, 100% { opacity: 1; } 50% { opacity: 0.9; } 25% { opacity: 0.95; } 75% { opacity: 0.85; } } /* === Responsive Adjustments === */ @media (max-width: 1500px) { .film-roll-badge { top: 68%; right: 18px; /* width: 220px; */ height: 65px; font-size: 0.85rem; } .press-section { margin-top: 35px; } } @media (max-width: 992px) { .film-roll-badge { top: 52%; right: 10px; width: 200px; height: 60px; } } @media (max-width: 768px) { .film-roll-badge { top: 56%; right: 10px; width: 124px; height: 55px; } .countdown-text { font-size: 0.9rem; } } @media (max-width: 576px) { .film-roll-badge { top: 59%; right: 5px; /* width: 160px; */ height: 50px; } .countdown-text { font-size: 0.85rem; } } const festivalStart = new Date("2025-11-20T00:00:00").getTime(); const festivalEnd = new Date("2025-11-28T23:59:59").getTime(); const countdownElement = document.getElementById("countdown"); const interval = setInterval(() => { const now = new Date().getTime(); // BEFORE FESTIVAL — show days + hours left if (now = festivalStart && now el.style.width = "350px"); clearInterval(interval); } }, 1000); //

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pib.gov.in · PRID 2245409

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CCI approves proposed acquisition of additional shareholding of Valuedrive Technologies Pvt Ltd by Setu AIF Trust, Konark Trust, and MMPL Trust

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