The long-pending Trade-Related Competition Bill approved by the Cabinet today has ruled out any post-merger review of companies with less than Rs 3,000 crore turnover or with asset size of up to Rs 1,000 crore.
The Bill, which has been considerably diluted, has also made it optional for all the companies to pre-notify M&As to the proposed Competition Commission of India.
Arun Jaitley, minister for law, justice and company affairs, said that the Commission could, however, review the possibility of any abuse of dominance by companies with assets of over Rs 1,000 crore and a turnover over Rs 3,000 crore post merger.
Refuting charges that the Bill has been overly diluted, the minister said there were only 17-19 Indian companies which had a turnover of over Rs 3,000 crore or an asset size of over Rs 1,000 crore.
