We are pleased to bring you ELP’s Mergers & Acquisitions Quarterly Update, which covers, amongst other topics, key regulatory amendments that impact the mergers and acquisitions (M&A) landscape in India.In this newsletter, we analyze trends in M&A activity in India from April 2019 until November 2019 and key amendments in foreign direct investment policy of the Government of India, the recent framework promulgated by the Securities and Exchange Board of India, and the ‘green channel’ route introduced by the Competition Commission of India (CCI) (in relation to transactions that are required to be notified to the CCI but in which where there is no appreciable adverse effect on competition in India). In our section titled ‘DEALTALK’, we have analyzed the usage of ‘material adverse effect’ (MAE) in M&A transactions and the evolving trends of what constitutes MAE and the general exceptions to MAE.
