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ARTICLE · 19 OCTOBER 2023

Open Offer And CCI Combination Regulations

Pioneer Legal
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The Competition Act, 2002 ("CCI Act") and Securities and Exchange board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 ("Takeover Code") are the two prominent legislations...

IndiaCorporate/Commercial Law
Adwait Munje
Adwait Munje
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The Competition Act, 2002 ("CCI Act") and Securities and Exchange board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 ("Takeover Code") are the two prominent legislations that are focused on and govern the mergers and acquisitions space in India. The CCI Act had been introduced with the intent of governing anti-competitive practices in India and to ensure that combinations (i.e., transactions) do not have an adverse effect on, and should not be likely to cause, appreciable adverse effect on competition in markets in India. On the other hand, the Takeover Code has been enacted to ensure that public shareholders of a listed company are treated fairly and equitably in relation to a substantial acquisition in, or takeover of, a listed company thereby maintaining stability in the securities market.

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