Competition Commission of India has amended CCI (Procedure in regard to Transaction of Business relating to Combinations) Regulations, 2011 on 9-10-2018 to provide certainty, transparency and other clarificatory changes for faster disposal of combination cases.
Parties can now submit remedies voluntarily in response to the notice under Section 29(1) of the Competition Act. If such remedies are considered by the CCI as sufficient to address the perceived harm in competition, the combination can be approved.
Also, on the request of parties, CCI would now allow withdrawal and refiling of a combination notice in case where the notice is found to exhibit significant information gaps. The parties now hence address the deficiencies without facing an invalidation by the CCI. However, it may be noted that in the case of withdrawal, fee paid will be adjusted, only if refiling is done within a period of three months.