The Ministry of Corporate Affairs (MCA) on March 08, 2024 issued a notification regarding the exemption of enterprises related to acquisition and mergers under the Competition Act
The following has been stated namely: -
• It states the following enterprises shall be exempted related to acquisition and mergers under the Competition Act namely:-
(a) any acquisition referred to in clause (a) of section 5 of the Competition Act;
(b) acquiring of control by a person over an enterprise when such person has already direct or indirect control over another enterprise engaged in production, distribution or trading of a similar or identical or substitutable goods or provision of a similar or identical or substitutable service, referred to in clause (b) of section 5 of the Competition Act; and
(c) any merger or amalgamation, referred to in clause (c) of section 5 of the Competition Act
[Notification No. S.O. 1131(E)]
