CCI's Green channel for M&A deals: Implementation will be a tough climb

The 'Green Channel' would allow automatic approval for certain M&A agreements based on specified criteria and pre-filing consultation, the CCI had said in the notification

On August 14, the Competition Law Review Committee, chaired by Corporate Affairs Secretary Injeti Srinivas, submitted a report to Finance and Corporate Affairs Minister Nirmala Sitharaman. The report suggested a slew of measures to spruce up the insolvency resolution process. One of the key recommendations was the creation of a “Green Channel” for automatic approval of certain M&A deals, including those under the Insolvency and Bankruptcy Code (IBC), by the Competition Commission of India (CCI).

Curiously, the competition watchdog had, in fact, already come out with a notification on August 13, approving the setting up of the said the Green Channel