New Delhi [India], Aug 31 (ANI): The Competition Commission of India (CCI) is likely to come out with its amended regulations on merger and acquisition (M&A) by the second week of September.
In an exclusive interview to ANI, CCI Secretary Smita Jhingran said that the mergers and acquisitions are an important mandate of the regulatory body.
"We reviewed the mergers and acquisitions in 2011. Since then, we have regularly amended the regulations relating to these in order to make it clear and more stakeholder friendly. As we execute the law and see more cases of mergers and acquisitions, we do put out proposed changes in the amendments in the regulations," she said.
She further added, "We recently put out amendments in our regulations and invited comments of the stakeholders. We have received a lot of comments from all the stakeholders. The comments are now being compiled and they are under consideration of the commission. We are hopeful that the newly amended regulation will be out within a fortnight.''
The CCI chief further said that as economic activity increases, there will be a greater role for the market regulator to have a deeper view on the mergers and clear it through their regulatory role, in line with Finance Minister Arun Jaitley's vision.
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"As the Finance Minister said, the markets are growing and the economy and consumerism are growing. When the economy grows, there will be a bigger role for the market regulator, because along with growth will come a higher level of economic activity which will be in the form of a larger amount of mergers and acquisitions as it happens in the mature jurisdiction abroad," she added.
The CCI had extended the last date for submission of comments from stakeholders on the proposal for amendments to combination regulations till August 15.
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