The government has introduced in Parliament the Bill to amend the Competition Act which, among other things, will require the Competition Commission to decide on corporate mergers within 180 days. Once in place, the Bill will allow the Competition Commission of India, CCI chairperson to authorise search and seizure to its Director General, DG for investigations. Corporate Affairs Minister Sachin Pilot introduced the Competition (Amendment) Bill, 2012 in the Lok Sabha to amend the Competition Act 2002. CCI has the mandate to ensure that the merger and acquisition deals between various entities do not lead to situations that affect competition in the marketplace.
News On AIR | December 11, 2012 9:32 AM
Competition Act Amendment Bill introduced in Parliament