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Legal Central Ministry of Corporate Affairs Competition Act, 2002

Ministry of Corporate Affairs has issues the Competition (Criteria of Combination) rules, 2024

11-Sep-2024 | G.S.R. 548 (E).

Ministry of Corporate Affairs has issued the Competition (Criteria of Combination) Rules, 2024, effective from 10th September 2024. The highlights of the update are: i. The Objective of the new legislation is to specify the criteria for combinations (mergers, acquisitions, or amalgamations) under the Competition Act, 2002, ensuring that parties provide notice if they meet specific conditions. ii. It apply to the enterprises involved in mergers, acquisitions, or amalgamations, along with their respective group entities and affiliates. iii. Key actionable on the part of applicable persons: - Ensure notice is given if parties do not produce identical or substitutable products. - Ensure compliance if parties are not engaged in activities like production, distribution, or trade at different stages of production or in complementary activities. - Ensure group entities and affiliates fulfilling the criteria (shareholding, voting rights, board representation, or access to sensitive information) are covered under the rule.

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