FOREIGN ANTI TRUST REGULATORS ON COMBINATIONS
Автор: ANNIE'S LEGAL BRAIN
Загружено: 2023-05-12
Просмотров: 177
Описание:
The concept of combinations which had been common in developed countries. This particular concept was not popular in India until the policies introduced by liberalization, privatization and globalization. Such policies also resulted in the entering of multinational companies (MNC’s) in the Indian markets. Pertinently, the Indian Companies now had to compete with the MNC’s for surviving in the market. Furthermore, these MNCs opted for acquiring companies in the Indian market through mergers and acquisitions, instead of building its business from scratch. Therefore, in the light of increasing such combinations between the companies, India has enacted the Competition Act 2002.
In simple words, a combination can be defined as a merger, acquisition, amalgamation between two or more enterprises or businesses. The aforesaid act puts up a responsibility on the government to control such merger, acquisition and amalgamations by the MNC’s, as MNCs with their huge power and resources tend to dominate the Indian small scale industries. Therefore, the provisions of the Competition Act, 2002 ensures that there is fair competition in the market.
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