CCI approves Multiples Fund III and CPHI-4 investments in Acko Technology

Current Context: Competition Commission of India (CCI) has approved the acquisition of additional Series E compulsorily convertible preference shares of Acko Technology & Services Private Limited (Acko) by Multiples Private Equity Fund III (Multiples Fund III) and CPP Investment Board Private Holdings (4) Inc.

• Acko is a company that provides technology and outsourced services for insurance and vehicle transactions.
• Multiples Fund III is a Category II Alternative Investment Fund managed by Multiples Alternate Asset Management Private Limited. CPHI-4 is a wholly-owned subsidiary of Canada Pension Plan Investment Board, a global investment management organization.

Question:

Q.1 What is the name of the regulatory body that approved the deal?
a. Securities and Exchange Board of India (SEBI)
b. Reserve Bank of India (RBI)
c. Competition Commission of India (CCI)
d. Insurance Regulatory and Development Authority of India (IRDAI)