CCI announces module for competitiveness

India Inc got much of what it has been demanding from the Competition Commission of India with the announcement that it plans to release a ‘Competition Compliance Manual.

Even more forward looking is the ‘Know it Yourself Online Module’ that will help enterprises understand whether any contemplated transaction is notifiable or not.

Announcing this at a CII conference on Friday, Mr. Devender Kumar Sikri, chairman, Competition Commission of India (CCI) said that “under the Prime Minister’s programme of Ease of doing Business, we are in the process of developing a ‘Know it Yourself Online Module’ that will help enterprises understand whether any contemplated transaction is notifiable or not.”

He promised that the aim of the manual would be to help industry stakeholders better understand and navigate the merger control regime in India.

He said in the last seven years, there were important milestones and of the 700 anti-trust cases that came before them, they disposed of 600.

He noted that mergers and acquisitions were steadily increasing and 436 files were received in 2015-16. Against the 30 working days in which they have to dispose of files they finished in 22 days. With the new changes he said ambiguity will be removed and compliance costs reduced.