Competition Comm puts in place green channel route for M&A approvals
Putting in place a speedier approval mechanism, Competition Commission has introduced a green channel route for clearing certain categories of mergers and acquisitions.
The green channel concept -- recommended by the high level panel that reviewed competition law -- would allow for an automatic system for speedy approval of combinations subject to certain conditions.
"Under this process, the combination is deemed to have been approved upon filing the notice in the prescribed format. This system would significantly reduce time and cost of transactions," Competition Commission of India (CCI) said in a release on Monday.
Mergers and Acquisitions (M&As) or combinations beyond a certain threshold are required to have mandatory approval from the fair trade regulator.
The watchdog has also revised its pre-filing consultation guidance note to assist the parties in determining their eligibility for green channel route.
"The green channel is aimed to sustain and promote a speedy, ...