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May 22, 2009
FAQs on Indian Competition Law
To facilitate competition in the Indian market, the Indian Government has enacted the new competition law called the Competition Act, 2002 (“Competition Act”) which is meant to replace the extant Monopolies and Restrictive Trade Practices Act, 1969 (“MRTP Act”) and provide institutional support to healthy and fair competition. The Competition Act seeks to prohibit anti-competitive agreements including cartels; prohibit abuse of dominant position and regulate combinations (mergers and amalgamations, and acquisitions).
As per the Business Standard news article dated May 21, 2009, the substantive provisions of the Competition Act relating to (i) prohibition of anti competitive agreements and (ii) abuse of dominance have been notified. Further, it is expected that the substantive provisions of the Competition Act with respect to regulations of combinations (mergers, amalgamations and acquisitions) will also be notified soon with the formation of the New Government. In light of the same, it becomes critical to understand the implications that the Competition Act will have on trade and mergers and acquisitions in India.
This M&A Lab captures frequently
asked questions (“FAQs”) that both
foreign and domestic acquirers may have with respect to
Competition Act in India. For the sake of convenience
and better understanding, these FAQs are divided into 4
parts – (Part I) Introduction; (Part II) Anti
competitive agreements; (Part III) Abuse of dominance
and (Part IV) Combinations.
As you would be aware, we have been providing regular information on latest legal developments. M&A Lab is our latest initiative to provide you in depth and knowledge based analysis of latest M&A deals. We will be happy to have your views / comments on our initiative. Please read the disclaimer carefully.
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This M&A Lab provides general information existing at the time of preparation. The M&A Lab is intended as a news update and Nishith Desai Associates neither assumes nor accepts any responsibility for any loss arising to any person acting or refraining from acting as a result of any material contained in this M&A Lab. It is recommended that professional advice be taken based on the specific facts and circumstances. This M&A Lab does not substitute the need to refer to the original pronouncements. This is not a Spam mail. You have received this mail because you have either requested for it or someone must have suggested your name. Since India has no anti-spamming law, we refer to the US directive, which states that a mail cannot be considered Spam if it contains the sender's contact information, which this mail does. In case this mail doesn't concern you, please unsubscribe from mailing list. |
