Did Amazon jump the gun in India? -CCI suspends clearance for Amazon-Future deal, imposes ₹200 plus 2 crore penalty on Amazon

Did Amazon jump the gun in India? -CCI suspends clearance for Amazon-Future deal, imposes ₹200 plus 2 crore penalty on Amazon In a recent turnaround from an approval granted earlier vide its order dated 28 November 2019 ( “approval order”) to the now famous Amazon-Future Group deal, India’s fair market watchdog , the Competition Commission…

“Green Channel”– automatic approval route for certain combinations- A Primer

CCI-“Green Channel”–automatic approval route for certain combinations- A Primer While all other regulatory functions of the fair trade regulator, the Competition Commission of India (CCI) remain suspended during the ongoing national lock-down due to COVID 19 pandemic , the “green channel”route is still available to the corporates . I provide a brief introduction on the origin and…

NCLAT rejects appeal of Confederation of All India Traders against CCI decision approving acquisition of Flipkart by Walmart

NCLAT rejects appeal of Confederation of All India Traders against CCI decision approving acquisition of Flipkart by Walmart The  National Company Law Appellate Tribunal (“NCLAT”), vide judgment dated 12.03.2020, has upheld the order dated 08.08.2018 passed by the Competition Commission of India (“CCI/Commission”) approving Wal-Mart International Holdings’ (“Walmart”) acquisition of between 51% and 77% of…

India : Prior competition clearance in Insolvency Resolution Process now mandatory – step towards “ease of doing business”

India : Prior competition clearance in Insolvency Resolution Process now mandatory – step towards “ease of doing business”  The enactment of the Insolvency and Bankruptcy Code, 2016 (IBC) has been often cited as one of the key economic reform of the present government . Undoubtedly the new enactment resulted in large corporate entities queuing up…

CCI Further amends combination regulations -minority acquisitions left untouched

CCI Further amends combination regulations -minority acquisitions left untouched The Competition Commission of India (‘CCI’) by way of a notification dated 09 October 2018 (“Notification”) has further amended the Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Regulations, 2011 (‘Combination Regulations’). Fortunately, based on strong opposition received from…

Competition clearance in Insolvency Resolution Process in India – Do the acquirers have a choice?

Competition Commission clearance in Insolvency Resolution Process in India – Do the acquirers have a choice? The enactment of the Insolvency and Bankruptcy Code, 2016 (IBC) in India has resulted in large corporate entities queuing up to acquire distressed companies and their assets, put on block following initiation of IBC proceedings. Acquisition of a corporate…

India- Central Govt. further dilutes competitive neutrality- exempts Oil and Gas PSUs from merger control by CCI

India- Central Govt. further dilutes competitive neutrality- exempts Oil and Gas PSUs from merger control by CCI In continuation of its slew of exemptions , the Government of India, Ministry of Corporate Affairs (MCA) ,  vide its recent Gazette notification dated 22.11.2017 has exempted all Central Public Sector Enterprises (CPSEs)  in the Oil & Gas…