TagMergers and Acquisitions

Proposed Merger Control Amendments: Questions and Potential Consequences

[Avinash Kotval and Ishaan Saraswat are penultimate year students at Jindal Global Law School, Sonipat] The Government of India, through the Competition (Amendment) Bill, 2022 (“2022 Bill”), proposed to bring about multiple changes to Indian competition law. One of the most pertinent changes is the introduction of a new thresholdfor the notification of any combination to the Competition...

The Need for an Ex -Post Assessment Framework to Tackle Killer Acquisitions in India

[Vishnu Bandarupalli is a third-year BA. LLB (Hons.) student at NALSAR University of Law, Hyderabad] Zomato’s acquisition of Uber Eats, Ola Cabs’ acquisition of TaxiForSure, Myntra’s acquisition of Jabong.com and, more recently, the merger of PVR and Inox—what is common between these corporate deals? They have arguably resulted in the consolidation of market power without triggering an antitrust...

Navigating an Alternative Route for Hostile Raiders

[Chandragupt is a 5th year B.A.,LL.B.(Hons.) student and Varnika Pasricha is a 5th year B.B.A.,LL.B.(Hons.) student, both at the Jindal Global Law School] The Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations 2011 [“SAST Regulations”] envisage two types of offers – mandatory open offers and voluntary open offers. While mandatory open offers are...

Hostile Takeover Cannot be a Defence to CCI Notification Requirements

[Mohsin Rahim is a 5th Year B.B.A. L.L.B. (Hons.) Student at Jindal Global Law School, O.P. Jindal Global University, Sonipat, Haryana] On May 17, 2022, the Competition Commission of India (“CCI”) passed an order imposing a penalty of INR 1 crore on Veolia Environment S.A. under section 43A of the Competition Act 2002 (“Act”) for violating section 6(2) and section 6(2A) of the Act, as Veolia...

Should India Allow Fractional Share Investing?

[Ajith Kidambi is a V year student at the NALSAR University of Law, Hyderabad] Fractional share investing could finally be a reality in the Indian stock market. The Company Law Committee, which the Ministry of Corporate Affairs constituted in 2019, had released its third report in April 2022, making several recommendations to the government to improve the ease of doing business in India and...

SEBI’s Takeover Amendment: Hit-and-Miss on Delisting

[Aryan Puri is a 4th-year BBA., LL.B. (Hons.) student at MIT-World Peace University, Faculty of Law, Pune, and Priya Maharishi is a 5th-year B.A., LL.B. (Hons.) student at Jindal Global Law School, Sonipat] On December 6, 2021, the Securities and Exchange Board of India (“SEBI”) amended the SEBI (Substantial Acquisition of Shares and Takeover) Regulation, 2011 (“Takeover Regulations”) to simplify...

Rise of Low Cost Carriers: Reexploring the Traditional Market Definition

[Akshat Kothari is a 3rd year law student at Institute of Law, Nirma University] The Indian aviation industry is attracting customers by offering affordable services.  However, the industry arguably suffers from its oligopolistic nature, since 90.5% of the market share vests with only few players. The interdependence in oligopoly allows the firms to operate in combinations and it gives rise to...

NCLAT’s Power of Modifying Schemes under Companies Act and NCLAT Rules

[Shauree Gaikwad is a 5th year student and Rishi Raj a 3rd year student at Maharashtra National Law University, Aurangabad] In the recent judgement of Rama Investment Company Private Limited v. Ankit Mittal, the National Company Law Appellate Tribunal (“NCLAT”) clarified the position of rule 11 of the NCLAT Rules, 2016 (“NCLAT Rules”) and stated that the appellate tribunal cannot exercise its...

Fortitude Learning: 3 day Online Certificate Course on Mergers and Acquisitions

[Announcement on behalf of Fortitude Learning] This course, being conducted from October 29 to October 31, 2021, seeks to provide the participants with an in-depth knowledge of the growing relevance of Mergers and Acquisitions in India as well as globally. This course is spread over 15-20 hours to provide the participants with a comprehensive understanding of various aspects of Mergers and...

Competition Assessment in R&D Markets: A Double Edged Sword

[Bhawna Lakhina is a third-year student of National Law Institute University, Bhopal] Research and development (“R&D”) constitutes a significant factor driving competition in the current market scenario. Companies constantly strive to innovate newer and better products as well as technologies to enhance their position in the market. This is particularly evident in markets like...

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