CCI asks companies to define market clearly while seeking M&A approvals

Fair trade regulator CCI today said companies need to clearly define their market and possible anti-competitive effects while seeking approval for mergers and acquisitions.Expressing hope that the number of Mand A activities would rise in the coming years, CCI Member Geeta Gouri said that companies should provide all necessary information related to their proposed transactions while referring it to the regulator.The Mand A proposals are looked at by the Competition Commission of India (CCI) to check for any anti-competitive issues."Companies should clearly define their market (while approaching CCI) as well as possible anti-competitive effects due to the proposed transaction... Also, CCI is particular on having all the data, information and board agreements related to a deal," Gouri said at a conference organised by industry body Assocham.She noted that the "100th case" related to Mand A has just gone through the CCI."With economic revival, more Mand A deals could be expected," Gouri said during the conference titled 'Mergers Acquisitions -- Tax Implications'.Securities and Exchange Board of India ( Sebi ) chief general manager Parmod Kumar Bindish said the regulator has made Takeover Code more participatory.The CCI keeps a tab on anti-competitive practices in the market.