The Competition Commission of India (CCI) received notice under Green Channel filed by Motherson Sumi Systems Limited (MSSL), Samvardhana Motherson International Limited (SAMIL), Sumitomo Wiring Systems Limited (SWS) relating to an intra-group reorganization of the Motherson Group and is deemed approved.
What is Green Channel Notice?
- It is an amendment in the Competition Act 2002 which is effective since August 15, 2019, to improve merger regulations.
- The Competition Commission of India (CCI) has introduced a green channel route for speedier approval of clearing certain categories of Merger and Acquisitions (M&A).
- The Green Channel Notice allows qualifying transactions to be approved immediately upon filing the notification with the CCI, which means, the qualifying or the eligible transaction will no longer wait for a CCI approval and can avoid the waiting period.
About Competition Commission of India
- The objectives of the Competition Act, 2002 are sought to be achieved through the Competition Commission of India, which has been established by the Central Government with effect from 14th October 2003.
- CCI consists of a Chairperson and 6 Members appointed by the Central Government.
- It is the duty of the Commission to eliminate practices having adverse effect on competition, promote and sustain competition, protect the interests of consumers and ensure freedom of trade in the markets of India.
