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Our Bureau

New Delhi , Jan.19

MERGERS, demergers and takeovers that have intent to capture larger market share in any area of economic activity, with ulterior motives attached to such moves, will shortly be critically scrutinised by the Competition Commission of India (CCI) after it has adopted certain enforcement powers through modifications in the Act, according to Mr Vinod K. Dhall, Member Administration, CCI.

Inaugurating a conference-cum-interactive session on `Offences and Penalties under Company Law - Effective and Efficient Implementation' organised by the Associated Chambers of Commerce and Industry of India (Assocham), Mr Dhall announced that currently a great deal of ground work was going on within the Commission for introducing amendments in the Act and after it acquired complete functioning, the Commission would ensure that there was fair competition for all stakeholders of an open market economy within the rules of the game.

The Commission will see to it that laws framed by any enactment are not violated and at the same time make sure that cartelisation, emerging out of mergers, demergers and takeovers, does not lead to capitalisation of larger market size in any sector of the Indian economy for larger and wider monetary gains, according to Mr Dhall.

The Commission would also put in place a mechanism to prevent sudden collapses from happening so that rules of good corporate governance were complied with, said Mr Dhall. This would restore the faith of shareholders and stakeholders of the corporate world, he added.

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