Competition Law Updates This Week (Week 29; 16 July to 22 July 2023)
Updated: Aug 8
On 19 July 2023, the Government of India (GoI) notified Section 12 of the Competition (Amendment) Act, 2023 effective 18 July 2023. With this, Director General (DG), Competition Commission of India (CCI), will now be appointed by the CCI with the prior approval of the Central Government. The appointments so far were done by Central Government. To track developments on the enforcement of the Competition (Amendment) Act, 2023, please see our tracker.
The GoI has also extended the exemption for Regional Rural Banks (notified under Section 23A(1) of the Regional Rural Banks Act, 1976) to seek the CCI's approval for mergers and acquisitions till July 2028. This exemption was first granted 2017.