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CCI plans online module for firms looking to strike deals

The move is for helping companies planning M&A activity to understand their own competitiveness and compliance.

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In a bid to boost 'ease of doing business' in India, the country's competition watchdog may soon introduce a 'know-it-yourself' module for merger and acquisitions (M&A) on its website.

The move is for helping companies planning M&A activity to understand their own competitiveness and compliance.

"CCI is working with all the stakeholders to make it more convenient for corporates and customers," said Smita Jhingran, secretary, Competition Commission of India (CCI) during a panel discussion. The seminar on 'Merger Control- What impacts industry?' was organised by Confederation of Indian Industry (CCI) on Friday.

CCI is responsible for keeping a tab on unfair business practices, including sanctioning of approval for any merger and acquisitions beyond a certain threshold. In July last year, the fair-trade regulator had revised its combination regulations for making the process simpler and more transparent. The amendments were aimed at providing greater clarity to the companies during M&A filings, and thereby helping in faster clearing processes.

Jhingran said about 436 new cases of M&A were received this year, out of which only three reached Phase II. On the contrary, mere 127 cases were received in 2015, which was then the highest registered in a calendar year.

According to CCI, it has disposed of about 80% of the 700-odd anti-trust cases referred to it so far.

When the panelists, which included counsels from the top companies across the sectors, pointed out the practical difficulties the companies were facing and sought some exemptions, Jhingran said, "Let's not miss the big picture."

She said the private equity business and the method of investment are changing in India.

"Earlier, there used to be passive investors. But now, things are changing and they have members on board and want management control. Therefore, we have to look into it in a changed structure," Jhingran said.

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