Govt will notify new M&A rules by May 5, says CCI
PrintListen to this Article
The government will notify the new rules for corporate mergers and acquisitions on May 5, following which it will be mandatory for companies to seek the Competition Commission's approval for high voltage deals, Chairman Dhanendra Kumar said today.
"By May 3-4, the rules will be finalised and by May 5, we will notify the same. And by June 1, the provisions relating to mergers and acquisition approvals would come into effect," Kumar told reporters on the sidelines of an AMCHAM event here.
The Competition Commission of India (CCI) has notified Sections 5 and 6 of the Competition Commission Act, 2002, dealing with mergers and acquisition (M&A) last month, but it is yet to finalise the rules.
When implemented, the norms would require companies to seek the CCI's approval for domestic and cross-border M&As. (PTI)
Category : Finance | Comments : 0 | Hits : 405
Today, Finance Minister Nirmala Sitharaman presented the 16th Finance Commission report in the Lok Sabha, outlining recommendations for the devolution of tax revenues between the Centre and the states...
The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi has approved the Terms of Reference for the Sixteenth Finance Commission. The Terms of Reference for the Sixteenth Finance Comm...
Finance Act, 2023 – Assented by President
Finance Act, 2023 received the assent of the President on the 31st March, 2023. Finance Bill, 2023 receives President's assent on Mar 31, 2023 and now its Finance Act, 2023. The Financ...
Comments