India Revamps its Merger Control Regime: Introduction of “Deal Value Thresholds”– Fast tracks merger review process On the 9th of September 2024, the Ministry of Corporate Affairs (MCA) , Government of India notified the left-over provisions of the Competition (Amendment) Act, 2023 relating to regulation of combinations[1] (mergers and acquisitions (M&A)] along with three related…
Amazon Inc has been trying to expand its market power as the largest retail chain in India since its entry in this sub-continent in June 2013. But it faces a tough challenge from India’s Reliance Group, which apparently backed by the establishment, is not losing any opportunity to stop Amazon’s expansion in India. The saga…
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…
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…
CCI allows PFC through video conferencing and revises guidance note to Form I of merger filing The current nation wide lock-down in India due to COVID 19 pandemic , has not deterred India’s fair trade regulator , the Competition Commission of India (CCI) , to continue with its efforts to bring transparency and clarity as well…
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…
NCLAT sets aside CCI order imposing penalty on Eli Lilly for Gun Jumping The National Company Law Appellate Tribunal, vide judgment dated 12.03.2020, has set aside the Competition Commission of India (“CCI/Commission”) order dated 14.07.2016 imposing a fine of INR 1 crore on M/s Eli Lilly and Company (“Eli”) for gun jumping i.e. for…
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 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 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…
