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The overall deal review timelines have been shortened to 150 calendar days, with a deemed automatic approval for transactions if the CCI is unable to form a prima facie view that the transaction may cause an appreciable adverse effect on competition in the first 30 calendar days (Phase 1). In practice however, there are significant time exclusions specified in the regulations, which may render this reduced timeframe a dead letter writes Shweta Shroff Chopra, Partner, Shardul Amarchand Mangaldas & Co.
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This new regulatory threshold mandates that any transaction with a deal consideration exceeding INR 2,000 Crore-and involving target entities with substantial business operations—will require clearance from Competition Commission of India (CCI).
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