Alerts & Updates 18th Mar 2024

(MCA) modifies the financial thresholds applicable to combinations and de-minimis exemption

Authors

Ravisekhar Nair Partner | Bengaluru
Abhay Joshi Partner | New Delhi | Noida
Parthsarathi Jha Partner | New Delhi | Noida
Aayushi Sharma Principal Associate | Delhi NCR
Bhaavi Agrawal Associate | Delhi NCR
Pavan Kalyan Associate | Delhi NCR
Raagini Agarwal Associate | Delhi NCR

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  • 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

Disclaimer: The information contained in this document is intended for informational purposes only and does not constitute legal opinion or advice. This document is not intended to address the circumstances of any individual or corporate body. Readers should not act on the information provided herein without appropriate professional advice after a thorough examination of the facts and circumstances of a situation. There can be no assurance that the judicial/quasi-judicial authorities may not take a position contrary to the views mentioned herein.