Competition Commission of India (CCI) has commented that its recent guidelines on corporate mergers and acquisitions will not create any hindrance in such deals, but is aimed at avoiding the formation of monopolies, for the benefit of consumers.
“CCI’s regulations are not there to create obstruction, but we will take a practical approach. We are in a free market economy and it needs regulation. Bringing M&A within the ambit of CCI will help consumers,” Competition Commission of India Chairman Dhanendra Kumar told PTI-Bhasa.
He said in about 100 countries, there is Competition Act and Competition Commission looking after regulation in the space of corporate M&As.
With effect from June 1, all high-value merger and acquisitions (M&As) will require approval of competition watchdog CCI.
