The Competition Commission of India (CCI) has published the draft Competition Commission of India (Lesser Penalty) Regulations, 2023 (LPR 2023) seeking stakeholder comments by 6 November 2023.Continue Reading Draft Lesser Penalty Regulations: Key Takeaways
Partner and Head of Competition Practice at the Mumbai office of Cyril Amarchand Mangaldas. Avaantika is highly experienced in complex merger filings with Competition Commission of India (CCI) and was the lead lawyer in the first Phase II merger control case in India as well as first few cases involving remedies/modifications. Her experience in corporate and securities laws, mergers & acquisitions, private equity and structured finance equips her uniquely for strategic advice on merger control. She represents select clients on the enforcement before the CCI and the Office of the Director General. She provides strategic support on commercial arrangements and compliance issues and was involved with filing the first few leniency applications before the CCI. She can be reached at firstname.lastname@example.org
The Competition Commission of India (CCI) has published the draft CCI (Combinations) Regulations, 2023 (Draft M&A Regulations) on 5 September 2023 and has invited stakeholder comments, to be submitted by 25 September 2023. The Draft M&A Regulations would replace the current CCI (Procedure in regard to the transactions of business relating to combinations) Regulations, 2011 (Combinations Regulations, 2011).Continue Reading CCI’s Draft (Combinations) Regulations: Key Takeaways
2022 was an eventful year for competition law in India. The Competition Commission of India (CCI) operated optimally approving combinations notified before it in reasonable timelines, conducting significant dawn raids, passing notable orders that made international headlines, and conducting market studies. The anticipated amendments to the Competition Act, 2002 (Act) were discussed ad nauseum in conference rooms and across coffee tables. Notable also is that the CCI has not had quorum for the formal conduct of business since Chairperson, Mr. Ashok Gupta demitted office on 24 October 2022, which has resulted in deals worth billions stuck without clearance.Continue Reading What’s Happening? 2022 Wrap of Competition Law in India
The Ministry of Corporate Affairs (“MCA”) has extended the suspension of the 30-day deadline for merger filings
India’s competition regime is mandatory and suspensory. A transaction cannot be completed (in whole or in part) unless the Indian competition regulator grants its approval.Continue Reading Update on Indian Merger Control Regime: The Small Target Exemption and pitfalls around jurisdictional thresholds for merger filings before the CCI
The Competition Commission of India (CCI) adapted nimbly to the challenges of 2020 and focused on digital payment platforms and cartel investigations; a few merger cases threw up interesting results as well. The much-anticipated guidance notes for the amended Form I notice were also a key highlight in 2020.
Continue Reading The Antitrust Year in Review – 2020
The outbreak of the COVID -19 pandemic has disrupted business globally including, in some cases, the disrupters themselves. As companies around the world prepare to respond to the effects of this pandemic on their businesses, they must become aware of the challenges and opportunities that competition law present. Businesses that are expecting significant losses due to reduced revenue may look at cooperation with their competitors as the one way of overcoming these tough times. On the other hand, companies selling essential/scarce products such as medical supplies, may attempt to capitalise on this situation by increasing prices or bundling non-essential products with the essential ones. Whilst coordination between competitors (either by way of collaboration or through concerted practices) or imposition of unfair and/or discriminatory prices or conditions may seem to be an obvious and efficient way to respond to or benefit from the current challenges, companies need to be mindful of the fact that the provisions of the Competition Act, 2002 (the Competition Act) continue to apply even during the tough times, perhaps even more so.
Continue Reading COVID -19 and Competition Law Concerns
The Competition Commission of India (CCI) has, for the sixth time since the introduction of the merger control regime in India, proposed amendments (Proposed Amendments) to the Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Regulations, 2011 (Combination Regulations).
The Combination Regulations are the principal regulations governing the merger notification process in India. Some of the changes proposed by the CCI seem to be aimed at addressing issues that have arisen in the implementation of the merger control regime over the past couple of years whereas others seek to incorporate procedures that are already being followed by the CCI in practice. The changes, currently in draft form while the CCI seeks stakeholder views , are highlighted in brief below.
Continue Reading CCI Proposes Amendments to Combination Regulations