Competition and Anti-Trust

Overview

Our Competition and Anti-Trust practice advises Indian and multinational companies, trade associations, and PSUs across Delhi NCR and North India on the full spectrum of issues under the Competition Act, 2002, as substantially amended by the Competition (Amendment) Act, 2023. We handle merger and acquisition notifications to the Competition Commission of India under Section 5 and Section 6 and the Combination Regulations, including assessment of asset and turnover thresholds, the deal-value threshold, and green-channel filings. Our work also covers defence in cartel and bid-rigging investigations under Section 3, leniency applications, abuse-of-dominance matters under Section 4, dawn-raid response, and competition compliance programmes. We represent clients before the CCI, the Director General, and in appeals before the National Company Law Appellate Tribunal (NCLAT) and the Supreme Court, advising on gun-jumping risk and antitrust issues in the technology, pharmaceuticals, cement, and digital-platform sectors.

1. 1

   Assess the jurisdictional thresholds

   Determine whether the transaction's combined assets or turnover cross the thresholds in Section 5 of the Competition Act, 2002 (including the Enterprise and Group tests). Also assess the deal-value threshold introduced by the 2023 amendment for transactions with substantial Indian business operations.

2. 2

   Check exemptions, including de minimis

   Confirm whether the small-target (de minimis) exemption applies — where the target's Indian assets or turnover fall below the prescribed limits notified by the Central Government — or whether any other exemption removes the filing obligation.

3. 3

   Select the correct form

   Choose between the short-form Form I (for transactions unlikely to raise competition concerns, such as low market shares) and the long-form Form II (for horizontal overlaps or vertical relationships above the indicative thresholds), as set out in the CCI (Combinations) Regulations.

4. 4

   Hold a pre-filing consultation

   Engage in an informal, confidential pre-filing consultation with the CCI to clarify scope, market definition, and information requirements before formal submission.

5. 5

   File the notice with the prescribed fee

   File the notification with the CCI together with the prescribed filing fee. Under the amended regime the obligation is triggered on execution of binding documents, and parties may not consummate the combination until approval (the standstill obligation under Section 6(2A)).

6. 6

   Phase I review

   The CCI conducts a Phase I review and must form a prima facie opinion within 30 working days of a valid filing (the clock pauses for requests for further information). Most combinations are approved in Phase I under Section 31(1).

7. 7

   Phase II review and final order

   Where the CCI forms a prima facie view of an appreciable adverse effect on competition, it initiates a detailed Phase II investigation, which may involve public comments and a show-cause notice. The CCI then approves the combination, approves it subject to modifications/remedies, or directs that it shall not take effect, within the overall statutory limit of 150 working days.

This is a general guide. For advice on your specific matter, speak to our Competition & Anti-Trust team.