Merger & Acquisitions to get a fillip as CCI facilitates e-filing

By NewsGram Staff Writer

Industry regulator Competition Commission of India (CCI) on Friday said that it will facilitate electronic filing of documents, including approvals of merger and acquisition (M&A) proposals, from October 1.

"CCI will enable e-filing from October 1," CCI chairman Ashok Chawla said at a CII conference in Mumbai.

He also said the CCI and its role would come into sharper focus in the current year which is expected to witness a 20 per cent increase in mergers and acquisitions as compared to the previous year.

"The CCI is not a quasi-judicial body, but a body of experts, and this sets apart its role as a regulator. It is not just about ensuring compliance, but rather about ensuring right 'behaviour', of ensuring that compliance is done keeping the right 'spirit' in mind, and not just the text of the law," he added.

The move assumes significance as it would help the regulator in faster disposal of M&A cases, whose numbers have been on an upward trend.