Green channel

Green channel

Subject: Economy

Section: Msc

Concept:

Keeping in view the needs of the market and the best practices in other jurisdictions, the Commission, vide notification dated August 13, 2019, amended Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Regulations, 2011, and introduced an automatic system of approval for combinations through a ‘Green Channel’ route.

Under this process, a combination is deemed to have been approved upon filing the notice in the prescribed format and acknowledgement thereof, subject to Commission’s finding that the combination falls under the ‘Green Channel’ scheme. This system would significantly reduce time and cost of transactions.

The ‘Green Channel’ is expected to sustain and promote speedy, transparent and accountable review of combination cases, strike a balance between facilitation and enforcement functions and create a culture of compliance and support economic growth.