The document summarizes key aspects of merger regulation under the Competition Act of India, including: 1) It establishes thresholds for mandatory notification of combinations (mergers and acquisitions) to the Competition Commission of India based on the combined assets or turnover of the firms involved. 2) It outlines the procedures for investigation and approval/rejection of proposed combinations by the CCI to determine whether they cause an appreciable adverse effect on competition. 3) It discusses concerns raised by industry regarding certain aspects of the regulatory framework such as the long waiting periods, treatment of intra-group acquisitions, and potential conflicts with securities laws.

1. MERGERS AND ACQUISITIONS

10. Merger control in other jurisdictions Jurisdiction First Phase Second Phase (i.e. usually where competition issues are anticipated) China 30 working days 90-150 working days from filing EU 25 or 35 working days 90-125 working days from decision to enter a second phase Japan 30 calendar days Later of 120 calendar days from filing or 90 calendar days from receipt of additional material US 15 or 30 calendar days 10 or 30 days from substantial compliance with Second Request (in practice up to 6 months)