9911796707
TMI BlogOrders of Commission on combinationsX X X X Extracts X X X X X X X X Extracts X X X X ..... s of the opinion that the combination has, or is likely to have, an appreciable adverse effect on compe tition, it shall direct that the combination shall not take effect. 6 [ (3) Where the Commission is of the opinion that any appreciable adverse effect on competition that the combination has, or is likely to have, can be eliminated by modification proposed by the parties or the Commission, as the case may be, under sub-section (7) of section 29 or sub-section (2) or sub-section (3) of section 29A, it may approve the combination subject to such modifications as it thinks fit. (4) Where a combination is approved by the Commission under sub-section (3), the parties to the combination shall carry out such modification within such period as ma ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as if such acquisition or acquiring of control or merger or amalgamation had not taken place and the parties to the combination shall be dealt with accordingly. (14) Nothing contained in this Chapter shall affect any proceeding initiated or which may be initiated under any other law for the time being in force. ***************** NOTES:- 1 . Substituted vide Competition (Amendment) Act, 2007 dated 24-09-2007 before it was read as, ninety working days from the date of publication referred to in sub-section (2) of section 29 2 . Substituted vide Competition (Amendment) Act, 2007 dated 24-09-2007 before it was read as, ninety working 3 . Omitted vide Competition (Amendment) Act, 2023 dated 11-04-2023 w.e.f. 10-09-2024 before it was read as, ce ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion. 7 . Omitted vide Competition (Amendment) Act, 2023 dated 11-04-2023 w.e.f. 10-09-2024 before it was read as, (7) If the Commission agrees with the amendment submitted by the parties under sub-section (6), it shall, by order, approve the combination. (8) If the Commission does not accept the amendment submitted under sub-section (6), then, the parties shall be allowed a further period of thirty working days within which such parties shall accept the modification proposed by the Commission under sub-section (3). (9) If the parties fail to accept the modification proposed by the Commission within thirty working days referred to in sub-section (6) or within a further period of thirty working days referred to in sub-section (8), the combin ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
