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The Competition Commission of India (CCI) has notified changes to its combination regulations in order to expedite disposal of combination cases coming up before it.
The combination rules pertain to mergers and acquisitions. A significant change has been that parties to a combination can — in response to a showcause notice — now submit remedies voluntarily and offer modifications to the combinations. If these modifications are considered sufficient to address the perceived competition harm, the combination can be approved.
The amendments allow withdrawal and refiling of combination notification. With this, the parties can address the deficiencies without facing an invalidation by the CCI. Further, fees paid in respect of such notice will be adjusted against the fee payable in respect of new notice if the filing is done within a period of three months.
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