CCI Clears Citrus Stake Increase And Control Of HCJI

09 Apr 2026 CW Team

Under the proposed combination Citrus will acquire the additional zero point four per cent stake in HCM through market purchases on a regulated stock exchange, namely the Tokyo Stock Exchange, and will obtain sole control of the joint venture HCJI through a share buyback that will remove the other party's 50 per cent interest in HCJI. The CCI noted that the acquisitions change the ownership structure without creating operational integration between Citrus and the businesses held by HCM or HCJI. The transaction therefore primarily affects shareholding and governance rather than active commercial operations in India.

Citrus operates as an investment vehicle that holds shares and does not carry on other business activities in India or globally, according to the filing. HCM is a public company listed on the Tokyo Stock Exchange and is engaged in the manufacture of construction equipment, with its activities centred on the design and production of machinery. HCJI was established as a holding company to hold shares in HCM and does not conduct other business activities in India or abroad.

The CCI indicated that a detailed order will follow setting out its reasoning and any conditions if applied, and stakeholders will be able to consult the full order when published. The approval records that the change confers decision making rights on Citrus at the level of governance of HCJI and increases its equity stake in HCM marginally. The clearance reflects the CCI's view that the combination does not presently raise competition concerns requiring remedies in India.

The Competition Commission of India (CCI) has approved the acquisition by Citrus Investment LLC (Citrus) of an additional shareholding of zero point four per cent in Hitachi Construction Machinery Co., Ltd. (HCM) and of sole control of the 50:50 joint venture HCJI Holdings K. K. (HCJI). The approval concerns a proposed combination that involves two discrete transactions and was announced by the CCI. The approval follows CCI's assessment of the proposed combination to determine whether the change in control raises competition concerns. Under the proposed combination Citrus will acquire the additional zero point four per cent stake in HCM through market purchases on a regulated stock exchange, namely the Tokyo Stock Exchange, and will obtain sole control of the joint venture HCJI through a share buyback that will remove the other party's 50 per cent interest in HCJI. The CCI noted that the acquisitions change the ownership structure without creating operational integration between Citrus and the businesses held by HCM or HCJI. The transaction therefore primarily affects shareholding and governance rather than active commercial operations in India. Citrus operates as an investment vehicle that holds shares and does not carry on other business activities in India or globally, according to the filing. HCM is a public company listed on the Tokyo Stock Exchange and is engaged in the manufacture of construction equipment, with its activities centred on the design and production of machinery. HCJI was established as a holding company to hold shares in HCM and does not conduct other business activities in India or abroad. The CCI indicated that a detailed order will follow setting out its reasoning and any conditions if applied, and stakeholders will be able to consult the full order when published. The approval records that the change confers decision making rights on Citrus at the level of governance of HCJI and increases its equity stake in HCM marginally. The clearance reflects the CCI's view that the combination does not presently raise competition concerns requiring remedies in India.

Infrastructure Urban

09 Apr 2026

Mineral Auction Rules Amended To Speed Mine Operationalisation

The Ministry of Mines notified the Mineral (Auction) Second Amendment Rules, 2026 on 30 March 2026 to accelerate operationalisation of mines and improve ease of doing business in the mining sector. The amendment follows a prior change to the Mineral (Auction) Rules, 2015 effected on 17 October 2025 that introduced intermediary timelines between issuance of a letter of intent (LoI) and execution of the mining lease. The 2025 change provided that one per cent of performance security would be appropriated for each month of delay by the preferred bidder and introduced incentives for early operatio..

Infrastructure Transport

09 Apr 2026

Indian Railways Strengthens Telecom And AI Safety Systems

Indian Railways strengthened its telecom and digital infrastructure during 2025-26 with the aim of improving safety, operational efficiency and the passenger experience. The programme promoted modernisation through advanced technologies, robust communication systems and passenger-centric solutions. These measures were presented as part of a drive to build a digitally integrated rail ecosystem. A key development was the enhancement of the Internet Protocol Multi-Protocol Label Switching (IP MPLS) backbone, commissioned at 1,396 stations to meet bandwidth needs of mission-critical applications. ..

Infrastructure Transport

09 Apr 2026

NHAI Holds Workshop on Litigation Management and Coordination

The National Highways Authority of India (NHAI) organised a day-long workshop in New Delhi to strengthen capacity and interdepartmental synergy for faster execution of national highway projects. The event was held under Mission Karmayogi – Sadhana Saptah, an initiative of the Government of India to enhance governance through capacity building and improved processes. The workshop focused on structured and solution oriented deliberations to address implementation constraints. The session was chaired by the NHAI chairman Santosh Kumar Yadav and brought together senior officials from NHAI, the M..