The notification by the Ministry of Corporate Affairs will take effect from September 10. The accompanying regulations for this provision are expected to be issued soon by the Competition Commission of India (CCI).
By bringing deal value threshold in the ambit of the Competition Act, the government aims to capture mergers that might otherwise evade scrutiny under the traditional "asset" or turnoverbased thresholds. This change has been done to keep pace with the evolving digital markets, where mergers often involve the sharing of big data and privacy concerns, among other things.
"The decision to introduce DVT stems from CCI's inability to review several transactions in digital and other sectors that were not subject to reporting due to asset or turnover values falling below the jurisdictional thresholds/ target exemption. India will now follow developed countries like the US, Germany, Austria, and South Korea in implementing DVT," said Vaibhav Choukse, partner Competition Law at JSA.
This story is from the September 10, 2024 edition of Business Standard.
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This story is from the September 10, 2024 edition of Business Standard.
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