The Ministry of Corporate Affairs (MCA) has issued a significant notification, S.O. 1130(E), revising de minimis thresholds under Section 54 of the Competition Act 2002.
The notification is issued under sub-section (3) of Section 20 of the Competition Act, 2002, indicating the government’s authority to enhance de minimis thresholds. The thresholds for the value of assets and turnover are increased by one hundred and fifty percent, based on the wholesale price index and exchange rate of the rupee.
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MINISTRY OF CORPORATE AFFAIRS
NOTIFICATION
New Delhi, the 7th March, 2024.
S.O. 1130(E).—In exercise of the powers conferred by sub-section (3) of Section 20 of the Competition Act, 2002 (12 of 2003), the Central Government in consultation with the Competition Commission of India, hereby enhances, on the basis of the wholesale price index and exchange rate of rupee, the value of assets and the value of turnover, by One hundred and fifty percent for the purposes of section 5 of the said Act, from the date of publication of this notification in the Official Gazette.
[F. No. 05/7/2013-Comp-MCA]
MANOJ PANDEY, Addl. Secy.
