Competition Commission of India Update

Ministry of Corporate Affairs issues notifications regarding (a) exemption regarding “group”; (b) Target exemption; (c) increase in value of assets and turnover, S.O. 673(E), 674 (E), 675(E). - 4th March 2016

The Ministry of Corporate Affairs, Government of India, in public interest, hereby:

Exempt the ‘Group’ exercising less than 50% of voting rights in other enterprise from the provisions of section 5 of the Competition Act, 2002 for a period of five years with effect from the date of publication of this notification in the official gazette

Exempt an enterprise, whose control, shares, voting rights or assets are being acquired has either assets of the value of not more than rupees three hundred and fifty crores in India or turnover of not more than rupees one thousand crores in India from the provisions of section 5 of the Competition Act, 2002 for a period of five years from the date of publication of the notification in the official gazette.  

Enhances, on the basis of the wholesale price index, the value of assets and the value of turnover, by 100% for the purposes of section 5 of the Competition Act, 2002, from the date of publication of this notification in the Official Gazette