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: list of goods taxed at 4% :: due date for vat payment :: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company :: VAT RATES :: articles on VAT and GST in India :: cpt :: ACCOUNTING STANDARDS :: ACCOUNTING STANDARD :: empanelment :: form 3cd :: TDS :: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes
 
 
« Mergers and Acquisitions »
 Tata Teleservices could be acquired by Airtel as India heads towards four-operator market
 Deals of the day-Mergers and acquisitions june 28, 2017
 Why is Avendus Capital behind most large e-commerce deals in India?
 India one of most attractive merger and acquisitions destinations in Asia.
 Deals of the day-Mergers and acquisitions june 20, 2017
 How new funding avenues, M&As are powering India’s renewable energy sector
 Finance Ministry asks PSBs to explore acquisition of smaller banks
 Bank of Baroda, Canara Bank may lead next round of mergers
  Deals of the day-Mergers and acquisitions June 13, 2017
 India’s booming stock market has a downside: It’s making M&As expensive, says BNP Paribas
 Cross border mergers make India favoured FDI route: UNCTAD

Mergers and Acquisition rules from June 1 CCI scanner on takeovers
April, 08th 2011

The government today stood firm on implementing the mergers and acquisition rules from June 1 that would put these takeovers under the scanner of fair-market watchdog, Competition Commission of India (CCI).

The implementation date of June 1 and also the provision of the (CCI) Act remains the same. Only certain implementation issues will be ironed out Corporate Affairs Secretary D K Mittal told reporters after meeting representatives of the industry.

He further said the issues that needed to be resolved were operational matters.

CCI has come out with draft rules, which gives it the power to vet high-voltage mergers and acquisitions. Industry has some concerns on these rules for which the secretary met legal representatives of the industry today.

Mittal said one of the issues raised by the industry was the high fees that corporates would have to pay for filing under Form 1. Form 1 requires companies to provide few details regarding their takeover proposals. A more detailed information would be needed in Form 2.

Another issue was regarding clarity as to which foreign companies with Indian presence would require the CCI's approval for merging or acquiring another company abroad.

He said industry also expressed concern that companies would need to approach the Commission even for small transactions like bonus share transfers. This would also be addressed, he added.

The industry body is voicing concern that mishandling of merger provisions could lead to regulatory and procedural hurdles, thereby hurting the countrys growth momentum.

According to provisions of the Act, companies with a turnover above the threshold of Rs 1,500 crore would have to approach the CCI for approval before merging with another firm.

Besides, only those proposals would need the CCI's nod where the companies have combined assets of Rs 1,000 crore or more, or a combined turnover of Rs 3,000 crore or more.

Also, the target companys net assets have to be a minimum of Rs 200 crore or it should have a turnover of Rs 600 crore for CCI intervention.

Among other things, CCI would take a prima facie view on proposed combinations within a month of filing by companies, which had addressed a major concern of industry about the time limit the body would take to vet mergers. Also, the maximum time limit the CCI would take to vet mergers has been reduced to 180 days, from the earlier 210 days, after facing opposition from the industry.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Privacy Policy

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