On August 5, 2022, the Competition (Amendment) Bill, 2022 (the
“Bill”), to amend the Competition Act,
2002 (the “Competition Act”), was
introduced in the Indian Parliament. The timing of approval of the
Bill, and its coming into effect, is uncertain at present.
The key changes proposed by the Bill include:
- introduction of ‘deal value thresholds' pursuant to
which ‘large-value' transactions will require the
approval of the Competition Commission of India
(“CCI”);
- relaxations for implementation of open offers and stock
exchange purchases;
- shortened timelines for review of
‘combinations';
- amendment of the definition of ‘control' to include
‘material influence';
- introduction of ‘settlement' and
‘commitment' to resolve investigations in respect of
anti-competitive vertical agreements and abuse of dominance;
and
