The Competition Act, 2002 (as amended), [the Act], pursues the idea of advanced competition laws and plans at promoting competition and safeguarding Indian markets against anti-competitive methods. The Act forbids anti-competitive deals, and exploitation of influential status and controls combinations (mergers and acquisitions) with a stance to make sure that there is no unfavourable impact on competition in India. The stipulations of the Act concerning the law/regulation of combinations have been implemented with effect from 1st June 2011[i]. Section 5 of the Act asserts that acquisitions, mergers, and amalgamations crossing specific assets or turnover levels/thresholds (collectively referred to as ‘combinations’) must be informed prior to the Competition Commission of India (CCI). Comprehensive stipulations on the management of notifications are covered in the Procedure regarding the Transaction of Business Relating to Combinations Regulations 2011, was last modified in October 2018 (the Combination Regulations).
[i] See, Central Government notification S.O. 479(E) dated 4th March, 2011