By Pallavi S. Shroff, Senior Partner, Amarchand Mangaldas
Nine years after the Competition Act, 2002 was enacted, its provisions in relation to merger control have finally come into force. From 1 June 2011, any transaction resulting in the acquisition, merger or amalgamation of enterprises in which the parties have assets or turnover beyond certain thresholds must be reported to the Competition Commission of India (CCI).
In anticipation of the new regime, on 11 May 2011, the CCI issued its final merger control regulations. The merger regulations have travelled some way in allaying the concerns raised by stakeholders in response to the first draft published by the CCI in early March 2011.
The merger regulations are, to a degree, in a state which businesses find ‘...