The Ministry of Corporate Affairs, through notification dated September 9, 2024, i.e., shortly after the close of the monsoon session of the Indian parliament, implemented multiple merger control provisions of the Competition (Amendment) Act, 2023. These changes were accompanied with the relevant regulations, i.e., Competition Commission of India (Combinations) Regulations, 2024, and rules, i.e.: (i) Competition (Criteria for Exemption of Combinations) Rules, 2024; (ii) Competition (Minimum Value of Assets or Turnover) Rules, 2024, (iii) and Competition (Criteria for Combination) Rules, 2024. These provisions have become effective as of September 10, 2024. This alert provides a snapshot of the key changes introduced and major takeaways.
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