Mint Explainer: How CCI proposes to implement a new regime for merger approvals?

New Delhi: The Competition Commission of India is currently soliciting public feedback on the implementation of its overhauled merger approval framework, which received legislative approval earlier this year. The amended law says that mergers and acquisitions where the value of a transaction exceeds ₹2000 crore and the enterprises being acquired have substantial business operations in India need to be notified to CCI for its approval. The draft combination regulations bring more clarity on how‘substantial business operations’ would be examined.CCI has also sought public comments on operational aspects of the new combination approval regime including the form of notice for the proposed combination, exercise of rights in case of open offer and acquisitions on stock exchanges, procedures for filing a notice and scrutiny of the notice. Also, any party planning to execute an acquisition, merger or amalgamation can seek a pre-filing consultation with the CCI about whether the proposed transaction qualifies as a combination requiring CCI approval.