New Delhi : The Competition Commission of India (CCI) on Friday cleared Mumbai-based private equity investor ChrysCapital and InCred Capital's proposals to purchase stakes in ILJIN Electronics.

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The development came after Amber Enterprises India, in September this year, announced that its subsidiary ILJIN Electronics India Pvt Ltd (ILJIN) had raised Rs 1,200 crore in strategic funding, through separate definitive agreements with ChrysCapital and InCred Growth Partners Fund I, along with their respective affiliates.

"The proposed combination pertains to the acquisition by the acquirer (ChrysCapital Fund X, Two Infinity Partners and Raptor Investments Ltd), collectively, of certain compulsorily convertible preference shares and equity shares in ILJIN," the regulator said in a

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