Auto components maker Pricol has filed a preliminary objection to Minda Corporation Ltd.’s application to the Competition Commission of India for increasing its investment in the equity shares of Pricol up to 24.5%. In a filing on Wednesday, Pricol said it also reserved the “right to challenge in detail on merits at the appropriate stage.” Earlier this month, Minda approached CCI to increase its stake in Pricol following the acquisition of a 15.7% stake by purchasing more than 1.91 crore shares of the latter from the open market in February, Press Trust of India reported.
