• Description

Description

An acquisition of one or more enterprises, where certain prescribed assets or turnover thresholds are crossed, will need to comply with the merger control provisions contained in Sections 5 and 6 of the Competition Act, 2002 and the Competition Commission of India (Procedure for transaction of business relating to combinations) Regulations, 2011, which sets out the mechanism for implementation of the merger control provisions under the Act. If the acquisition classifies as a combination according to the Competition Act, 2002, then it would require the prior consent of the Competition Commission of India, failing which, the companies could be held liable for gun-jumping. After the combination is notified, the Commission examines whether it would cause an appreciable adverse effect on competition./