Thursday 22 August 2019
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business-standard - 8 days ago

Govt-constituted panel suggests green channel CCI approval for deals under insolvency law

Suggesting substantial changes to competition regulatory framework, a government-constituted high level panel has recommended a green channel for automatic approval of certain combinations, including those under the insolvency law, by the Competition Commission. Under the Competition Act, combinations (mergers and acquisitions) beyond a certain threshold require clearance from the Competition Commission of India (CCI). The Competition Law Review Committee, chaired by Corporate Affairs Secretary Injeti Srinivas, has recommended a slew of changes with respect to the Act. The panel has suggested a green channel route for automatic approval of certain combinations. Parties to the combination may self-assess, based on specified criteria and pre-filing consultation with the CCI, whether they qualify for notification under the Green Channel, the report, uploaded on the corporate affairs ministry website, said. Green Channel route should be the de facto route for merger notification and ..


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