Tag Archives: CCI

ILN Today Post

CCI Alters Realty Agreements

India’s antitrust regulator, the Competition Commission of India (“CCI”) is proactively exercising its powers to gain its due and relevant place in the affairs of the world’s largest democracy. The CCI has recently taken a step forward towards protecting the interests of the property buyers by modifying the terms of the agreement executed between one of India’s largest real estate player and the apartment buyers for two different real estate projects. The provisions of the Apartment Buyers Agreement have apparently been modified to make the agreements more equitable and fair to the property buyers.

The CCI has reportedly modified approximately 16 (sixteen) sub-clauses which were deemed abusive and unreasonable to the buyer, as also required modifications in view of the laws applicable to the development of group housing projects in the state of Haryana. CCI has, inter alia, also commented that:

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Week of March 5, 2012 on ILNToday – A Roundup

Last week, we experienced some technical difficulties while traveling in Asia for the ILN’s Asia Pacific Regional Meeting, so I was unable to bring you the roundup. We’re back this week, and I’m bringing you a quick top 10!

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ILN Today Post

CCI Amends Merger Control Regulations

The Competition Commission of India (“CCI”) on February 23, 2012 has notified Amendments1 to the Merger Control Regulations2.

The Merger Control Regulations required the proposed combinations3 or the combined entity (if the combination has been effected) to notify the CCI of such combination within seven (7) days of the approval of the board of directors for the merger or execution of the acquisition agreement. (Refer our newsletter of May 16, 2011)

The Amendments have been issued to streamline the procedure of notifying the CCI of any proposed combination, and effect, inter alia, the following modifications to the Merger Control Regulations:

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