India: Ministry of Corporate Affairs adopted the Competition (Criteria for Exemption of Combinations) Rules, 2024

On 9 September 2024, the Ministry of Corporate Affairs adopted the Competition (Criteria for Exemption of Combinations) Rules, 2024 under the Competition Act, 2002. These rules specify categories of mergers, acquisitions, and shareholding transactions exempt from mandatory approval. The rules specify those below defined shareholding thresholds or, not resulting in control, including certain investment acquisitions, intra-group transfers, and corporate actions like bonus issues and demergers. The rules aim to streamline competition oversight by exempting low-impact combinations and came into effect on 10 September 2024.