On 4 March 2016, India’s Ministry of Corporate Affairs published changes to its merger regime. Changes include:
- increased thresholds triggering a notification (click here to read in full) and
- renewal of the de-minimis exemption with higher thresholds, meaning that a notification can be excluded if the target's domestic asset value is less than INR 3.5 billion (USD 52 million)– up from INR 2.5 billion, or the target’s domestic turnover is less than INR 10 billion (USD 149 million) – up from INR 7.5 billion.
It is expected that increased filing thresholds and the renewal of the de-minimis exemption will result in a decline in the number of notifiable transactions and a more targeted merger control regime.
The new thresholds came into force on 4 March 2016