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M&A info will be kept confidential: Govt
November, 30th 2009

The government has assured India Inc the Competition Commission will keep information on mergers and acquisitions confidential, while clearing M&A proposals.

We have to ensure confidentiality (on M&A applications), corporate affairs minister Salman Khurshid said, when asked about the concerns expressed by industry over notification of Sections 5 and 6 of the Competition Act dealing with M&As.

Once the sections are notified by the government, companies will have to seek approval of the Competition Commission (CCI) before going ahead with the proposal. The CCI will have 210 days to take a call on the applications.

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