In the Budget Speech for the financial year 2016-17, the Government of India proposed its vision to strengthen Central Public Sector Enterprises (CPSEs) engaged in the Oil and Gas Sectors (OGS) through consolidation, mergers and acquisitions.

Paving a way for fast track consolidation in the oil and gas sector, the Ministry of Corporate Affairs, Government of India (MCA) has exempted all cases of combinations involving CPSEs operating in OGS, along with their wholly or partly owned subsidiaries operating in OGS, from Section 5 and Section 6 of the Competition Act, 2002 (Competition Act).Continue Reading MCA Exempts Central Public Sector Enterprises Engaged in Oil and Gas Sector from CCI Notification