The Competition Commission of India (CCI) on September 09, 2024, issued the Competition Commission of India (Combinations) Regulations, 2024.
This shall come into force on September 10, 2024.
The following has been stated namely: -
• Rule 4 states “Value of transaction and substantial business operations in India” that the value of a transaction includes all forms of consideration, direct or indirect, immediate or deferred, and covers various elements such as covenants, inter-connected steps, future payments, call options, and estimated future outcomes.
• Rule 6 states about Exercise of rights in case of open offer and acquisitions on stock exchanges.
• Rule 21 states “Publication of the details of the combination” that if the Commission finds that a combination may significantly harm competition, the parties must publish the details of the combination in specified formats, submit them to the Commission, and ensure they are posted on their own and leading newspapers' websites within a specified timeframe.
• Rule 26 states “Compliance by the parties for modifying” which requires parties to file a compliance report and affidavit with the Secretary within seven days of completing modifications as per the Commission's order, and to submit periodical reports if required, with non-compliance being escalated to the Commission.
Kindly refer to the attached document for detailed notification.
[Notification no. - CCI/CD/Comb. Regl./2024]
