The introduction of India’s competition law has been marred by contradictions between the act, the implementing regulations and government notifications
In March 2008, a conference in New Delhi on India’s new merger notification regime attracted around 150 high-profile delegates from Indian and international law firms and companies. They were there to get to grips with what was then a largely unused piece of legislation – the Competition Act, 2002 – at the heart of which lies a mandatory pre-merger notification requirement. In spite of intense lobbying against certain aspects of the act, the government was determined to implement it.
Attending the conference was a team from India’s competition regulator, the Competition Commission of India (CCI). The commission’s acting chairman at the time, Vinod Dhall, vowed that the CCI would work constructively with industry as it moved to implement the various provisions of the act.
But, speaking immediately after the conference, some delegates expressed unease about the law. “[We] are concerned about the presence of ambiguities and omissions,” said Siddharth Sharma, the senior in-house counsel at Tata Sons.
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