The significant changes under the Competition (Amendment) Bill, 2023 including the introduction of the deal value threshold, a settlements and commitments system, and provisions capturing hub and spoke cartels, seek to align the Competition Act, 2002 with global competition regimes.
The long-awaited amendments will significantly overhaul the Competition Act, arming the CCI with newer enforcement tools to address emerging challenges. The Bill was passed by the Lok Sabha on March 29, 2023, and by the Rajya Sabha on April 3, 2023.
Against this backdrop, Ravisekhar Nair, Partner, Aayushi Sharma, Senior Associate, and Pavan Kalyan, Advocate, Economic Laws Practice (ELP) have co-authored an article titled Competition Act Amendment: CCI gets more enforcement tools to address emerging challenges published by moneycontrol.com
Read the detailed article here: http://bit.ly/40Cl2YI