Murli Deora to Chair a Special Meeting on Issues Relating to Competition
Union Minister of Corporate Affairs Shri Murli Deora has convened a special meeting on 25th April, 2011 at Mumbai to listen the views of Corporate India on issues relating to competition. The meeting has been called after a discussion with Secretary, Shri D.K. Mittal Ministry of Corporate Affairs Shri D.K. Mittal and Chairman, Competition Commission of India, Shri Dhanendra Kumar on concerns raised by Corporate India on regulations of merger and acquisition by the Competition Commission of India w.ef. 1st June, 2011. The Minister has asked the officials to ensure that there is no disruption in the activities of Corporate India. The regulations, initially had to be very light handed and only major transactions should be coming to the Commission for approval.
He has also asked to have wide consultation with Corporate India through proposed interactive meetings at Mumbai, Bangaluru, Ahmedabad, Hyderabad, Chennai, Kolkata and Delhi and ensure a smooth transition from 1st June, 2011 regarding regulation of merger and acquisition in India. It will make India at par with other economies including economies of advanced developing countries namely China, South Africa and Brazil where such regulations have already come into force.