The Competition Commission of India (CCI) on September 08, 2023, notified the Draft CCI (Combinations) Regulations, 2023 which will repeal and replace the Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Regulations, 2011.
The following has been stated: -
•The Draft CCI Combinations Regulations 2023, inter alia, provide for the following:
(a) Value of transaction and criteria for substantial business operations in India.
(b) Form of notice for the proposed combination.
(c) Exercise of rights in case of open offers and acquisitions on stock exchanges.
(d) Amount of fee and mode of payment.
(e) Procedure for filing notice and scrutiny of notice.
(f) Procedure for modification to the proposed combination.
•The CCI invites stakeholders to submit written comments on the draft Combinations Regulations within 21 (twenty-one) days from September 05, 2023, to September 25, 2023.
The detailed notification is given in the document attached below.
