IJCLP Staff asked 2 years ago
When should a person notify the commission about the combination and what are the consequences if the notice is not notified within the timeline?
1 Answers
IJCLP Staff answered 2 years ago
In case of mergers or amalgamations, a notice under Section 6(2) of the Act is required to be filed with the CCI prior to the same coming into effect subject to the provisions of sub-section (2A) of section 6 and section 43A of the said Act.
Filing a notice for a combination which meets jurisdictional thresholds is mandatory under Section 6(2) of the Act. Failure to notify would attract a penalty, under Section 43A of the Act, which may extend to one per cent of the total turnover or assets of the combination, whichever is higher.
Filing a notice for a combination which meets jurisdictional thresholds is mandatory under Section 6(2) of the Act. Failure to notify would attract a penalty, under Section 43A of the Act, which may extend to one per cent of the total turnover or assets of the combination, whichever is higher.
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