Digital firms that have “substantial business operations” in India have been mandated to get CCI clearance for M&A deals valued above INR 2,000 Cr
Enterprises that have at least 10% of their end users in India, or generate 10% of their gross merchandise value or turnover in India will be required to obtain CCI’s nod for M&As
The new ‘deal value’ threshold will likely enable the CCI to monitor M&As that previously evaded its radar due to traditional ‘asset’ or ‘turnover’ criteria
Heeding to the demands of industry bodies, the Competition Commission of India (CCI) has further tightened its grip on big tech giants operating in the country.
In back-to-back regulatory orders this week, the competition watchdog notified new rules that turn up the heat on big tech giants and bring them further under its ambit. It all started on Monday (September 9) when the union government notified the “deal value threshold” provisions under the competition law.