Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India :: due date for vat payment :: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company :: list of goods taxed at 4% :: ACCOUNTING STANDARD :: VAT RATES :: empanelment :: cpt :: TDS :: form 3cd
 
 
« Mergers and Acquisitions »
 The Deal Economy Conference Reveals Upbeat Forecast for Mergers & Acquisitions in 2017
 Mergers and acquisitions almost halve over three months following Brexit vote
 Mergers & acquisitions: a lesson in cyber-security complacency and reputational ruin
 Notable Mergers and Acquisitions 12/5: (CNSL)/(FRP) (CX) (FDML)
 What is Triggering the Wave of Mergers & Acquisitions in the Indian Internet Space?
 Oil and gas mergers and acquisitions are finally making a comeback
  Mergers: Commission approves acquisition of St Jude Medical by Abbott Laboratories, subject to conditions
 Mergers and Acquisitions: What’s Happening in the OFS Industry?
 Mergers: Commission approves acquisition of St Jude Medical by Abbott Laboratories, subject to conditions
 Prediction: These 8 Companies Will Get Bought in 2017
 Third Quarter Results Show Continued Strength in Mergers and Acquisitions

No mergers and acquisitions on competition panel's plate
April, 15th 2009

The Competition Commission of India (CCI) will not take up local as well as foreign mergers and acquisitions immediately, as it looks to fine-tune its merger regulations before assuming the role of a full-fledged regulator.

However, the commission, which will be operational in the next few days, will take up cases of anti-competitive practices, cartelisation and abuse of dominance, as the competition law allows the government to notify its various provisions in phases, said a CCI official, who asked not to be named.

The commission got its third member on Tuesday and a fourth member is expected to be sworn in on Wednesday, taking the quasi-judicial body to its full strength.

CCIs revised regulations on mergers and acquisitions combinations, in legal parlancewill make the application of competition law more rational by excluding from regulation the deals which do not adversely affect competition but are covered by the asset-turnover criteria.

The idea is to further fine-tune the merger regulation drafted earlier by CCI during the tenure of its former member and acting chairman Vinod Dhall. Considering its impact on corporate deals, the full commission, chaired by former World Bank executive director Dhanendra Kumar, will do some more consultation with the corporate world before finalising it, the official said.

Competition law says that any deal where the combined entity meets an asset-turnover criteria has to be vetted by the regulator. This implies that an insignificant acquisition by a big company, which does not impact competition, too has to be vetted by the regulator.

Based on suggestions from the corporate world, the draft merger code prepared by Mr Dhall sought to prescribe individual asset and turnover threshold for at least two parties in the deal. It also prescribed such individual threshold for a cross-border deal: at least two parties should have assets of minimum Rs 200 crore or turnover of Rs 600 crore in India to attract CCI scrutiny.

The draft regulation also sought to reduce the time to clear an M&A deal to 30 days while the law allows CCI to take up to a maximum 210 days. These norms are expected to be fine-tuned now. The model code of conduct in force ahead of national polls does not prevent the government from notifying competition law provisions as it is merely operationalising a statutory body, the CCI official said. Competition law was amended in 2007 to give adjudication powers to the CCI.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Publishing Management System PMS News Management System Publishing Management System Development Online News Management System for media company custom Publishing management system development Survey management system Market Res

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions