Friday, July 15, 2011

CCI NORMS TO SUMMARISE

Confederation of Indian Industry (CII) has said that competition watchdog CCI’s approval should not be made mandatory for mergers and amalgamations between group companies. While acquisitions of control or shares or voting rights or assets within the same group have been exempted from the notification requirement but mergers or amalgamations have not been specified, which appears to be an oversights and such mergers do not change the competitive land-scape of a market, and being incapable of causing an appreciable adverse effects on competition should not be subjected to a pre-notification regime.

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