competition act

NOTIFICATION F. NO. 9/22/2010-CS, DATED 15-7-2011 - In exercise of the powers conferred by sub-section (1) of section 53-O of the Competition Act, 2002 (12 of 2003), the Competition Appellate Tribunal hereby makes the following regulations or regulating the procedure of appeals and applications, lamely:— 1. Short title and commencement.—(1) These regulations may be called the Competition Appellate Tribunal (Procedure) Regulations, 2011, Full Article

XBRL – A New Financial Reporting Language -Businesses are adapting to an operating environment which increasingly focuses on improved corporate governance and better risk management. In response to changing expectations of stakeholders towards transparency and good governance, a technology led new information management environment is continuously emerging. New standards of financial reporting like Extensible Business Reporting Language (XBRL) a language for the electr.. Full Article

Competition watchdog CCI has issued a show cause notice to the National Stock Exchange (NSE) asking why a penalty should not be imposed for its unfair trade practices in connection with currency derivatives trading . The commission has found NSE guilty of violating Section 4 of the Competition Act, which is abuse of dominant position, according to a source in the CCI. Full Article

The government will notify the new rules for corporate mergers and acquisitions on May 5, following which it will be mandatory for companies to seek the Competition Commission''s approval for high voltage deals, Chairman Dhanendra Kumar said today. By May 3-4, the rules will be finalised and by May 5, we will notify the same. And by June 1, the provisions relating to mergers and acquisition approvals would come into effect, Kumar told reporters on the sidelines of an AMC.. Full Article

Government is committed to bringing in a fair merger and acquisition regime in the country, so that these regulations become an instrument of economic growth of the country. He said there is no denying the fact that effective and fair competition is a must for an orderly development of economy and compliance with the provisions of the competition law absolutely essential to attain this goal. However, this should not stifle the pace of M & A activity in India which is abs.. Full Article

The Parliament has passed the the Competition (Amendment) Bill, 2009 which is to replace the Competition (Amendment) Ordinance, 2009 and to further amend section 66 of the Competition Act, 2002. Rajya Sabha passed it today, while the Lok Sabha had already considered and passed it on 14th December, 2009. Full Article

The government is likely to seek the Cabinet’s approval on amending the Competition Act 2002 to facilitate the winding up of the Monopolistic and Restrictive Trade Practices Commission before 2011. The Bill will essentially replace the ordinance issued in October this year. The ordinance was to allow winding up the MRTPC at the earliest against 2011 as specified in the Competition Act. Full Article

After a lull, the contentious provisions regarding mergers and acquisitions (M&A’s) of the amended Competition Act is back on the discussion table of the Ministry of Corporate Affairs (MCA). The Ministry is planning to hold a meeting with the new anti-monopoly watchdog the Competition Commission of India (CCI) and the stakeholders in the first week of December to discuss the M&A clauses – Sections 5 and 6 – that are yet to be notified, official sources told to lead.. Full Article