In a statement, CII said that while the government needs to bring in facilitative provisions through changes in the Companies Bill, Combinations Regulations, Takeover Code and Foreign Investment Policy, corporates are focusing their strategy based on imminent changes due to proposed convergence with IFRS, among other things.
It added that CII has been continually advocating industry’s views to make M&A regulatory landscape growth oriented and corporate friendly.
The Competition Commission of India Regulations, 2011 that now governs all proposed mergers and acquisitions effective June 1, 2011 are far more streamlined than the draft proposed earlier, CII said.
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