Aug 19, 2019: Competition Commission of India (CCI) is an expert body to promote and sustain competition in markets, to protect the interests of consumers and to ensure freedom of trade carried on by other participants. Regulation of mergers and acquisitions (M&A) above certain financial threshold (Combinations) is an important regulatory function of CCI. Since its inception, the CCI has cleared 666 combinations.
As part of its ongoing and regular efforts to make M&A filings approval faster, the CCI has introduced an automatic system of approval for combinations under Green Channel. Under this process, the combination is deemed to have been approved upon filing the notice in the prescribed format. This system would significantly reduce time and cost of transactions.
Simultaneously, CCI has also revised its pre-filing consultation guidance note to extend its scope to include consultation to assist the parties to determine whether their combination is eligible for Green Channel. The parties filing combination notice can also meet the case team between 10 am. and 12 pm. from Monday to Friday for this purpose.
The Green Channel is aimed to sustain and promote a speedy, transparent and accountable review of combination cases, strike a balance between facilitation and enforcement functions, create a culture of compliance and support economic growth.
The amendments to Combination Regulations and PFC consultation guidance note are available at CCI official website.