Pending deal approvals: Industry participants flag lack of quorum at CCI ...Middle East

Business Standard - Economy

With various mergers and acquisitions awaiting CCI approval, industry participants have sought measures to address the issue of lack of quorum at the competition watchdog which does not have a chairperson for more than two months now. Mergers and acquisitions beyond a certain threshold require the approval of Competition Commission of India (CCI) under the Competition Act, 2022. Section 5 and 6 of the Act relate to regulation of combinations in the country. For approval of combinations, the regulator needs to have a quorum of three members. However, since the retirement of Chairperson Ashok Kumar Gupta on October 25, 2022, there are only two members, resulting in lack of quorum at CCI. Again

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Last updated : 15 January 2023 clock 06:32 PM

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Pending deal approvals: Industry participants flag lack of quorum at CCI ...Middle East

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