The Competition Commission of India (CCI) has approved LIC Mutual Fund Asset Management Limited's acquisition rights to manage and administer the schemes of IDBI Mutual Fund. <br />''<br />''It was previously managed by the IDBI Asset Management Limited (AMC). In a statement, the CCI said that IDBI AMC will also acquire certain non-controlling shareholding in LIC AMC apart from lump sum consideration.<br />''<br />''<br />