The Competition Commission of India’s (CCI) proposed move to amend combination regulations has found favour with Competition Law experts, who felt that the changes are in tune with the present day landscape of high value mergers and acquisitions in the country.
The changes proposed to Combination Regulations, under the Competition Act include allowing of modifications to the combinations, withdrawal and refiling of merger notification, additional time and exemption for certain acquisitions from the requirement to file notice. This is the sixth amendment being undertaken since its release in 2011.
Dhruv Gupta, Partner, Lakshmikumaran & Sridharan Attorneys, said, “The proposed amendments seem to be a mixed bundle of changes. The amendment facilitates hassle-free notification of combinations and related procedures and also has widened the net for notification requirement.”
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