CCI to advice companies prior to filing notice on M&A

Informal consultations to help corporates clear doubts about combination provisions

deevakar

Deevakar Anand | May 27, 2011



The fair-trade watchdog Competition Commission of India (CCI) has decided to provide the consultation facility to companies prior to the filing of notice of their proposed mergers with the regulator.

The step is being hailed as in accordance with the international best practices. Corporates have welcomed the move as the recently notified 'combination provision' under sections 5 and 6 of the Competition Act which mandates corporates to take CCI’s approval for all their big-ticket deals has led to some confusion among companies in terms of interpreting the finer aspects of the regulations.

Although the consultation will be verbal and informal, companies can seek advice from the CCI staff and clear all their doubts. The facility will be additional and will not be deemed official CCI opinion and not binding on it. Companies can contact the CCI’s Combination Division on two dedicated email addresses and seek appointment with its mergers and acquisition experts.

The move also assumes significance as the anti-trust watchdog has supposedly been short-staffed to look into cases involving complex competition laws.

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