13 ASIAN LEGAL BUSINESS – INDIA E-MAGAZINE WWW.LEGALBUSINESSONLINE.COM the digital market. This acknowledges the necessity for a specialised approach to addressing the unique challenges posed by digital markets. The Committee has conducted extensive consultations with stakeholders. ALB: There are new regulations coming on merger control, commitment and settlements and cartel leniency. Could you share your expectations from these new rules? Kaur: Regulations on commitment and settlement processes, as well as leniency plus regimes introduced through the Competition Amendment Act 2023, will provide a significant impetus to the ease of doing business by reducing litigation through self-reporting and selfcorrection by enterprises. The Competition Amendment Act 2023 has also introduced the Green Channel route in the statute for the automatic approval of certain categories of mergers and acquisitions. This will expedite the approval process for transactions that are unlikely to harm competition in India. ALB: Are there any lessons or best practices from international antitrust agencies that you believe could be applied to enhance the CCI’s effectiveness? Kaur: Engagement with international antitrust agencies plays a pivotal role in enhancing the effectiveness of these agencies. Such engagement allows for the exchange of best practices and insights. Antitrust issues, particularly in the context of globalisation and digital markets, often have cross-border implications. By interacting with international agencies, we can learn from their experiences, adopt effective strategies, and tailor them to fit our domestic market conditions. Secondly, such engagement facilitates cooperation in cross-border investigations and enforcement. In today’s interconnected world, many anti-competitive practices have international dimensions. Collaborating with other antitrust agencies helps in coordinating investigations involving multinational companies or global markets, thereby making enforcement actions more effective. Also, international engagement aids in capacity building. Through workshops, seminars, and training programs conducted in collaboration with international bodies, our staff can stay abreast of the latest developments and techniques in competition law enforcement. This is vital in dealing with complex issues, especially those arising in dynamic sectors like technology and e-commerce. International engagement reinforces the CCI’s credibility and aligns its practices with global standards. This alignment is crucial for attracting foreign investment and promoting a business-friendly environment in India, as it assures investors of fair and consistent competition enforcement. We have recently organised the eighth BRICS International Competition Conference. By bringing together representatives and experts from Brazil, Russia, India, China, and South Africa, the conference served as a pivotal platform for discussing critical issues related to antitrust enforcement in emerging economies. The event provided an opportunity for the CCI to share its best practices and learn from the experiences of its counterparts, thereby enhancing its capabilities and strategies in promoting fair competition. Deals $1 BLN Sale of Aster DM Healthcare’s GCC business Deal Type: M&A Firms: Allen & Overy; AZB & Partners; Baker McKenzie; Cyril Amarchand Mangaldas Jurisdictions: India, UAE $530 MLN AU Small Finance Bank’s acquisition of Fincare Small Finance Bank Deal Type: M&A Firms: Anagram Partners; AZB & Partners Jurisdiction: India $488 MLN Zurich Insurance’s acquisition of Kotak Mahindra General Insurance Company Deal Type: M&A Firms: AZB & Partners; Cyril Amarchand Mangaldas; Freshfields Bruckhaus Deringer Jurisdictions: India, Switzerland $366 MLN Tata Technologies’ IPO Deal Type: IPO Firms: Cravath, Swaine & Moore; Cyril Amarchand Mangaldas; Latham & Watkins; S&R Associates Jurisdiction: India $230 MLN Cello World’s IPO Deal Type: IPO Firms: J. Sagar Associates; Sidley Austin Jurisdiction: India $204 MLN Honasa Consumer’s IPO Deal Type: IPO Firms: Cyril Amarchand Mangaldas; IndusLaw; Sidley Austin Jurisdiction: India REUTERS/Adnan Abidi
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