CCI to enforce stricter M&A disclosure requirements starting May 1

Cos to disclose "complimentary linkage" between them and their impact on market, provide data of past 5 yrs on market size, market share of parties and also of competitors

Companies planning for merger and acquisition (M&A) will have to disclose the extent of “complimentary linkages” between them and their impact on the market under the revised reporting requirement of the Competition Commission of India (CCI). The changes will come into effect from May 1.

The entities may also have to provide market facing data of the past five years with respect to their market size, market share of the parties and also the competitors along with customers and suppliers. At present they seek data for only one year.

The anti-trust watchdog has amended the Form-II--typically for cases requiring detailed