Alerts & Updates 18th Mar 2024
On March 7, 2024, the MCA issued two notifications revising the (1) asset and turnover thresholds under Section 5 of the Competition Act, 2002 (Act) for notifying a transaction to the Competition Commission of India (CCI), and (2) asset and turnover threshold for claiming de-minimis exemption, respectively. The revised thresholds are captured below:
Revised thresholds for de-minimis exemption* | ||
Target | Assets (in India) | Turnover (in India) |
INR 450 Crores (~ USD 54 million) | INR 1250 Crores (~ USD 150 million) |
Revised jurisdictional thresholds* | |||
Assets | Turnover | ||
Enterprise Level | India | > INR 2500 crores (~ USD 301 million) | > INR 7500 crores (~ USD 902 million) |
Worldwide with India leg | > USD 1.25 billion and;
at least INR 1250 crores (~USD 150 million) in India |
> USD 3.75 billion and;
at least INR 3750 crores (~USD 451 million) in India |
|
OR | |||
Group Level | India | > INR 10000 crores (~USD 1.2 billion) | > INR 30000 crores (~USD 3.6 billion) |
Worldwide with India leg | > USD 5 billion and;
at least INR 1250 crores (~USD 150 million) in India |
> USD 15 billion and; at least INR 3750 crores (~USD 451 million) in India |
We trust you will find this an interesting read. For any queries or comments on this update, please feel free to contact us at insights@elp-in.com or write to our authors:
Ravisekhar Nair, Partner, Email – ravisekharnair@elp-in.com
Parthsarathi Jha, Partner, Email – parthjha@elp-in.com
Abhay Joshi, Partner, Email – abhayjoshi@elp-in.com
Aayushi Sharma, Principal Associate, Email – aayushisharma@elp-in.com
Bhaavi Agrawal, Associate, Email – bhaaviagrawal@elp-in.com
Pavan Kalyan, Associate, Email -pavankalyan@elp-in.com
Raagini Agarwal, Associate, Email – raaginiagarwal@elp-in.com