Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: VAT Audit :: form 3cd :: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4% :: empanelment :: TDS :: ACCOUNTING STANDARD :: due date for vat payment :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4% :: cpt :: Central Excise rule to resale the machines to a new company :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes
 
 
Mergers and Acquisitions »
 Digital payments gateway PayU eyes acquisitions to enter lending segment
 Top 5 mergers and acquisitions of 2017 in India
 Deals of the day-Mergers and acquisitions Jan 16, 2018
 Mergers & Acquisitions is accepting nominations for our 10th annual M&A Mid-Market Awards
 Why 2018 could be the year of Mergers & Acquisitions
 15 of the Best Mergers & Acquisitions of 2017
 How recent valuations have affected M&A deals
 India Inc made merger and acquisition deals worth over $60 bn in 2017
 Global appetite for mergers and acquisitions sparked by stock market rally in 2017
 2018 may see mergers and acquisitions worth $50 bn on back of stressed assets: Report
 10 Major Security Mergers and Acquisitions From 2017

Nationalised Banks Exempted From CCI Approval For Mergers
September, 01st 2017

Paving way for fast-tracking consolidation in PSU banking space, the government has exempted mergers of nationalised banks from seeking fair trade watchdog CCI's approval.

This exemption will be applicable for ten years and comes at a time when several experts and even policymakers have been talking about the need for consolidation in the banking sector, especially among the state-run banks.

Mergers and acquisitions beyond a certain threshold compulsorily require clearance from the Competition Commission of India (CCI), which is mandated to keep a tab on unfair business practices across sectors.

In a notification dated August 30, the government said it has exempted, in the public interest, "all cases of reconstitution, transfer of the whole or any part thereof and amalgamation of nationalised banks, under the Banking Companies (Acquisition and Transfer of Undertakings) Act, from the application of provisions of Sections 5 and 6 of the Competition Act, 2002 for a period of ten years".

These two sections pertain to combination of enterprises.

Earlier this month, a similar exemption for five years was given for the government-directed mergers of Regional Rural Banks (RRBs) -- set up to provide credit and other facilities to small farmers, agricultural labourers and artisans, among others, in the rural areas.

Karan Singh Chandhiok, Partner at law firm Chandhiok & Associates, said the exemption is unique as it lasts for 10 years. and shows that the government is cognisant that such combinations may take years to fructify.

Earlier, the CCI had assessed various segments that constitute 'banking' such as deposits, home loans and card business, he said.

"It may be that in these segments, the merger of some PSBs may give rise to significant market power and raise anti-competitive concerns.

"To avoid this situation, the government has exercised its powers under the Competition Act to exempt transfers or amalgamations between PSBs," Chandhiok said.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Desktop Application Development Outsourcing Desktop Application Development Offshore Desk

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