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CCI nearly dealt with quarter of 118 cases but still wants merger control

The Competition Commission of India (CCI) wants full ratification of its merger control powers under both section 5 and 6 of the Competition Act, which has languished unapproved for months. The CCI chairman Dhanendra Kumar said at a meeting that the CCI would like to give its consent for most M&A transactions within 30 days of filing, which was only possible if the government ratified both sections 5 and 6 of the Competition Act, according to the Financial Express and other papers. Section 5 states that an Indian company with a turnover of over Rs 3,000 crore can not acquire another company without the CCI’s prior notification and approval. Section 6 voids amalgamations which adversely and appreciably affect competition within a relevant market. Already in February Kumar said he was looking forward to speedy notification of the merger control guidelines.

Kumar also added that the CCI had received 118 cases to date, of which 24 had been dismissed after finding no violation of competition law and five were in the final stage of determination.

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