On 9-9-2024, the Ministry of Corporate Affairs notified the Competition (Minimum Value of Assets or Turnover) Rules, 2024. The provisions came into force on 10-9-2024.
Key Points:
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The rules are based on Section 5(e) of the Competition Act, 2002 relating to “Combination”.
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When the value of assets or turnover, will be as mentioned under, of the enterprise being acquired/ taken control of/ merged/ amalgamated in India, it will not constitute a combination under Section 5:
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value of assets- Rs. 450 crore.
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value of turnover- Rs. 1250 crore.
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