India: Competition (Criteria of Combination) Rules, 2024 pertaining to merger and acquisition notification criteria entered into force

On 10 September 2024, the Competition (Criteria of Combination) Rules, 2024, under the Competition Act, 2002 adopted by the Ministry of Corporate Affairs entered into force. The rules apply to parties involved in mergers, acquisitions, or amalgamations, including their group entities and affiliates holding at least 10% shareholding or control rights. The rules set out criteria for notifying combinations where parties do not offer similar, substitutable, or complementary products or services and define relevant entities and affiliates.