March 10, 2014 3:03:42 am
THE Competition Commission of India (CCI) is giving final touches to the guidelines for reducing regulatory compliance burden related to mergers and acquisitions for businesses and lawyers. The guidelines would be declared within the next three-four weeks, said Ashok Chawla, chairman, CCI.
To make compliance process easier, the CCI also plans to provide assistance in “substantiative” matters pertaining to mergers and acquisitions (M&A).
“We are looking at the next stage where our officers will look at the substantiative issues (related to combinations),” Chawla said, while speaking at a function organised by industry chamber Assocham.
Companies entering into combinations or M&A have to seek approval of the CCI, which has the mandate to keep a tab on unfair trade practices at the market place.
Currently, companies can avail facility of informal and verbal consultation with the staff of CCI prior to the filing of notice to a proposed combination. However, such interactions are now restricted to procedural aspects.
According to Chawla, the opinions expressed during consultations on “substantiative matters” related to combinations would not be binding on the parties.
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