We’re a step closer to an overhaul of our competition law4 min read 15 Dec 2022, 10:42 PM IST
The Competition (Amendment) Bill, 2022, proposes to amend the law on several aspects of merger and acquisition deals but leaves some key matters of detail to India’s competition regulator.
The Standing Committee on Finance recently tabled its report on the Competition (Amendment) Bill, 2022, in the Lok Sabha. The committee was directed to review the bill and submit its report within a short period of three months. It invited suggestions from various stakeholders—including industry bodies, lawyers and economists—on the bill and discussed them with the Competition Commission of India (CCI) as well as various government ministries. Based on these deliberations, the committee identified nine key areas and has offered recommendations on eight of them. The bill, along with these recommendations, is likely to come up for discussion before lawmakers in Parliament during the Budget Session.
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