The Cabinet of India, last Thursday cleared amendments to the Competition Act, bringing all sectors under the purview of the fair trade regulator, the Competition Commission of India (CCI). The Finance Minister P. Chidambaram, announcing the decision, said all sectors would come under the watchdog to meet the changing business environment. At a media briefing, Chidambaram announced that although the basic structure of the Competition Act will remail, the cabinet will continue to make amendments. The Competition Act in general, lays down caveats with regard to mergers in the banking sector, in the case of failing banks.
Previous major amendments approved by the cabinet include reducing the overall time limit of finalization of combinations from 210 days to 180 days, and the insertion of a new section enabling the government to lay down different thresholds for enterprises for the purpose of examining acquisitions, mergers and amalgamations.
Full Content: India Daily News
Related Content: The New Indian Merger Control: Key Procedural Issues
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Hess Shareholders Approve $53 Billion Merger with Chevron
May 28, 2024 by
CPI
EU Regulators Engage with Telegram as App Nears Critical Usage Threshold
May 28, 2024 by
CPI
EEX Offers Remedies to Address EU Antitrust Concerns Over Nasdaq Deal
May 28, 2024 by
CPI
BRG Expands European Competition Practice with New Expert Team in Brussels
May 28, 2024 by
CPI
UK Law Empowers Regulators to Fine Big Tech Without Court Approval
May 28, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Merger Guidelines Retrospective
May 21, 2024 by
CPI
Mergers of Complements
May 21, 2024 by
CPI
Personality Traits, Private Equity, and Merger Analysis
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Lessons in the Importance of Incipiency, Modern Economics, and Monopsony
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Sharpening Merger Analysis
May 21, 2024 by
CPI