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: Central Excise rule to resale the machines to a new company :: form 3cd :: empanelment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: list of goods taxed at 4% :: VAT Audit :: ACCOUNTING STANDARD :: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TDS :: VAT RATES :: ACCOUNTING STANDARDS :: due date for vat payment :: cpt
 
 
Mergers and Acquisitions »
  IBBI pitches for market driven mechanism for mergers, acquisitions
 Air India disinvestment: Govt invites applications from investment bankers, law firms
 Govt seeks advisers for Air India disinvestment
 India Inc's M&A value dips 46 percent in August: Grant Thornton
 Deals of the day-Mergers and acquisitions Sep 12, 2017,
 Deals of the day-Mergers and acquisitions Sep 5, 2017
 Nationalised Banks Exempted From CCI Approval For Mergers
 Deals of the day- Mergers and acquisitions Aug 29, 2017,
  NCLT process will cleanse the system; another Swachh India in the making
 Understanding Mergers & Acquisitions in India
 Acme, Inox explore exit from renewable energy projects won at record low tariffs
 Getting Fit for Mergers and Acquisitions
 Government may nudge state-run banks to present M&A options
  IBBI pitches for market driven mechanism for mergers, acquisitions
 Deals of the day-Mergers and acquisitions Aug 23, 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 2017 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