|
|
CCI amends combination regulations to expedite M&A
|
|
|
|
Top Stories |
|
|
|
|
SME Times News Bureau | 11 Oct, 2018
In order to simplify the filing requirements for mergers and
acquisitions (M&A) and expedite their disposal, the Competition
Commission of India (CCI) on Wednesday said it has revised its
Combination Regulations.
The amendment will now allow combining
parties to submit remedies in response to the show-cause notice issued
on apprehension of adverse impact on competition.
"A key change
brought about by the present amendments is that the parties to
combinations can now submit remedies voluntarily in response to the
notice issued under Section 29(1) of the Act.
"If such remedies
are considered sufficient to address the perceived competition harm, the
combination can be approved. This amendment is expected to expedite
disposal of such combination cases," the CCI said in a statement.
As
per Section 29(1) of the Competition Act, 2002, the Commission can
issue a show-cause notice to the combining parties if it views the
merger will have an adverse effect on competition. The parties are to
respond within 30 days of the notice.
"CCI India amends the
Combination Regulations vide notification dated October 9, 2018 to
provide certainty and transparency and to expedite faster disposal of
combination cases," the fair trade regulator said in a tweet.
In
another significant amendment, parties to combinations are allowed to
withdraw the notice where it is found to exhibit significant information
gaps and refile the same.
"With this amendment, the parties
could address the deficiencies without facing an invalidation by CCI.
Further, fee already paid in respect of such notice shall be adjusted
against the fee payable in respect of new notice, if the refiling is
done within a period of three months," it said.
Besides, certain consequential and other clarificatory changes have also been made in the Combination Regulations, CCI said.
|
|
|
|
|
|
|
|
|
|
|
|
|
Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
|
66.20
|
64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
|
|
Daily Poll |
|
|
PM Modi's recent US visit to redefine India-US bilateral relations |
|
|
|
|
|
Commented Stories |
|
|
|
|
|
|
|
|