Some of the Objective of competition Act 2002 are as follows
- The amendment 2012 provide that all corporate merger be cleared by the competition Commission of India with in 180 days
- The bill proposes 18 amendments to the competition Act 2002
- the competition Bill 2012 was introduced to promote fair trade practice aimed at Giving more power to competition Watchdog to monitor anti-competitive activities that impact trade in the market place
- the Amendment Bill 2012 insert a new schedule 5 (a) for approval of combination of commission
- CCI has introduced the Merger and acquisition from 1st June 2011 a company going for merger and acquisitions and having turnover of Rupees fifteen hundred crore for combined assets exceeding of rupees one thousand crore or combined turnover of rupees three thousand crore
- A company having assets more than rupees two hundred crore turnover exceeding rupees six hundred crores will also need permission from CCI before its acquisition
- CCI has also declared while releasing rule for merger and acquisition that 95% of agreement will be approved within 30 days span of time while the rest deal will be cleared within the maximum period of 180 days
