Injeti Srinivas, Ministry of Corporate Affairs secretary, who headed the Competition Law Review Committee, presented the panel’s report to finance minister Nirmala Sitharaman on Wednesday.
Delaying merger implementation imposes costs not only on the merging parties but on the society more generally, the report said, adding that a green channel must become the preferred route for merger notification and approval. The report recommended that the government decide on eligibility criteria for approvals via the green channel after discussions with the CCI. The panel also recommended that combinations arising out of resolution plans under the Insolvency and Bankruptcy Code be allowed to be notified through the green channel.
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