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ARTICLE · 15 JULY 2015

Competition Commission Of India's Merger Control Regulations Amended

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The new second proviso to Regulation 5(8) of the Combination Regulations requires that the communication of the intention to acquire to a Statutory Authority will now be the trigger event for making a filing.

IndiaAntitrust/Competition Law
Avaantika Kakkar
Avaantika Kakkar
Aayush Tainwala
Aayush Tainwala
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The Competition Commission of India (Commission) has published the amendments to the Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Regulations, 2011 (Combination Regulations), which became effective on 1 July 2015.

Some of the most important changes are:

Trigger to filing

Background to the amendment: The Commission's Order in the TESCO/Trent case (May 2014) changed the trigger event for filing the notice from the date of signing of the binding agreement to the intimation of the intention to acquire made to the Central Government, in this case, to the Foreign Investment Promotion Board (FIPB). TESCO was penalised for making a late filing with the Commission although the acquisition was approved. This Order had surprised most practitioners, but the Combination Regulations in force at the time stated that where there was an "other document" in addition to or in the absence of the binding agreement,

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