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The Competition Commission of India today said that companies need to clearly define their market and possible anti-competitive effects while seeking approval for mergers and acquisitions.
Expressing hope that the number of M&A activities would rise in the coming years, CCI Member Geeta Gouri said that companies should provide all necessary information related to their proposed transactions while referring it to the regulator.
M&A proposals are looked at by the fair trade regulator to check for any anti-competitive issues.
“Companies should clearly define their market (while approaching CCI) as well as possible anti-competitive effects due to the proposed transaction... Also, CCI is particular on having all the data, information and board agreements related to a deal,” Gouri said at a conference organised by industry body Assocham.
She noted that the “100th case” related to M&A has just gone through the CCI.
“With economic revival, more M&A deals could be expected,” Gouri said during the conference titled ‘Mergers Acquisitions — Tax Implications’.
Securities and Exchange Board of India (SEBI) chief general manager Parmod Kumar Bindish said the regulator has made takeover code more participatory.
The CCI keeps a tab on anti-competitive practices in the market.
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