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ARTICLE · 11 NOVEMBER 2019

Green Channel Amendment To The Competition Act, 2002

Upon filing such a declaration, the transaction is deemed to be approved by the CCI subject to the veracity of the statements in the declaration.

IndiaAntitrust/Competition Law

The Competition Commission of India ("CCI") recently received its first combination for the acquisition of the Essel Mutual Fund, under sub-section (2) of Section 6 of the Competition Act, 2002 ("the Act") Act read with regulations 5 and 5A of the Competition Commission of India (Procedure in regard to the transaction of Business relating to Combinations) Regulation, 2011, ("Regulations"). Regulation 5A is a new regulation that has been inserted in the Regulations by enacting the Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Amendment Regulations, 2019 ("Amendment") with effect from the 15th of August, 2019. Regulation 5A provides for a "green channel" for obtaining an approval from the CCI ("Green Channel Route") in relation to specified transactions which may constitute a combination.

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