Thursday, 9 July 2015

Amendments to regulations relating to combinations introduced on 3 July 2015 by CCI

We are pleased to release an alert which summarizes amendments to the Competition Commission of India (Procedure in regard to transaction of business relating to combinations) Regulations, 2011 (“Combination Regulations”), namely Competition Commission of India (Procedure in regard to transaction of business relating to combinations) Amendment Regulations, 2015 (“Amendment Regulations“) by the Competition Commission of India (“CCI”) and announced via press release dated July 3, 2015. The same is yet to be notified in the official gazette.

As part of its ongoing efforts to make combination filing requirements simpler and to ensure greater transparency, the CCI has revised its Combination Regulations making them more forward looking.

Significant amendments include amendment in the definition of ‘other document’, flexibility in signing of notice, new Form I and accompanying guidance notes  on filing Form I, etc.

CCI has made certain changes in the Combination Regulations which will go a long way in ensuring consistency in filings made before the regulator and also avoiding delays on account of deficient notices. While the changes may slightly delay transaction timelines, the approach seeks to bring in more transparency and is a welcome step.

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