CCI allows Parties in Combination to Withdraw and Re-File the Notice of Combination
The Competition Commission of India (“Commission”) via its notification dated October 09, 2018 amended the Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Regulations, 2011. Some of the major changes are as follows:
- The time taken by the parties to submit the requisite details or additional information of the ‘combination’ to the Commission and the time taken by the Commission to complete the proceedings regarding invalidation of combination notice shall be excluded from the period of 210 days which are counted from giving of notice of combination to the Commission, on completion of which, the combination comes into effect;
- The parties are now allowed to withdraw and refile the notice of combination. In case of such withdrawal and refiling, the fee already paid in respect of such notice shall be adjusted against the fee payable in respect of new notice provided the new notice is given within three (3) months from the date of withdrawal; and
- Earlier, it was the discretion of the Commission to ask for additional details or modification in previously provided details of the combination if it feels that such a combination will cause an appreciable adverse effect on competition in the market. Now, such a modification or additional details can be filed by the parties by their own discretion. No permission is required to be taken from the Commission.