'CCI gets 10 M&A filings for approval every month'

Indicating vibrant economic activities across sectors, the Competition Commission receives an average of ten merger and acquisition filings for approval every month, the regulator's chairman Ashok Chawla said today.
The watchdog, which keeps a tab on unfair business practices in the marketplace, has so far received more than 270 such proposals, seeking its nod.
Out of them, 253 cases have been cleared.
In the last one year, "an average of about 10 cases (of M&As) have been received every month," he said, adding that earlier the number was around 4-5.
The increase is a sign of vibrant economic activity as well as that of more consolidation happening in different sectors, he noted.

The Competition Commission of India (CCI) takes an average of about 20 days to take a call on such proposals.

Delivering a lecture on 'Competition law and its journey so far' to Parliamentarians here, Chawla said competition in the market is "not automatic" and needs to be nurtured.
Listing out challenges faced by the Commission, he said that at times there are issues of jurisdiction with sectoral regulators. Also, a large number of cases are before High Courts and Supreme Court, he added.
Noting that the regulator started enforcing competition norms only since 2009, Chawla said, "a lot more ground needs to be covered as we go ahead".