Introduction and Background
In a welcome move, the Competition Commission of India
(CCI) has published the revised format of Form II
(long form) to notify reportable transactions. While the overhauled
format was published on 31 March 2022 by way of amendment to the
CCI (Procedure in regard to the transaction of Business relating to
Combinations) Regulations, 2011 (Combination
Regulations), the requirement to comply will come into
effect from 1 May 2022.
A Form II is typically required to be filed with the CCI where
parties to a notifiable transaction (ie, transactions that breach
prescribed financial thresholds) have a combined market share of
over 15% (in horizontally overlapping markets) or over 25% (in
vertically overlapping markets). Transactions involving a lesser
combined market share of the parties can be notified by way of Form
I (short form).
