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Regulations on mergers soon
19 April 2011: The Competition Commission of India (CCI) will finalise the regulations on mergers and acquisition provisions by end-April 2011.
The regulations will spell out the format of the forms that need to be submitted and other operational details. These norms relate to Section 5 and 6 of the Competition Act which have already been notified by the Government. The regulations have to be framed so that the operational aspects are made known to corporates and stakeholders. CCI will hold consultations with industry before finalising the regulations. From 1 June 2011 companies with a turnover of over Rs 1,500 crore will require prior approval of the CCI before proceeding with any merger transaction.
Source: Hindu Business Line