CCI keeping a close watch on PEs taking board seats in rival firms: Report

While the CCI has no issues with PEs owing minority stakes in rival companies, the watchdog wants these funds to choose only one firm in terms of board representation

The Competition Commission of India (CCI) is keeping a close watch on private equity (PE) funds taking up board seats in rival firms in the same sector, as it believes that such arrangements can adversely impact the competition landscape, The Economic Times reported on Tuesday quoting people aware of the matter. 

While the CCI has no issues with PEs owning minority stakes in rival companies, the watchdog wants these funds to choose only one firm in terms of board representation, and give up the directorship in rivals, sources told ET. 

"There is no problem if they take board seat in