Indian Merger Control In 2023 – A Year In Flux

Introduction

2023 was a year in flux for India's merger control regime. The year started with the Competition Commission of India (CCI) lacking the quorum to approve notified transactions, and ended with more than 90 approved transactions (of which more than 25 were under the 'green channel' route), a comprehensive public consultation process on revised regulations, the imposition of penalties totaling INR 2.55 crore (including the first ever penalty for non-adherence to the conditions of the 'green channel' route), a slew of decisions which augmented the CCI's jurisprudence on gun jumping, and the imposition of consumer-centric remedies in four instances in sectors ranging from pharmaceuticals to civil aviation.