In a significant move aimed at fast tracking clearances for mergers and acquisitions, the government on Friday said it has relaxed norms for seeking approval from fair trade regulator Competition Commission.
Besides easing compliance requirements, the amendments to competition rules exempt corporates from seeking the Commission's green signal for certain M&A deals, like transactions of two entities where one of the enterprises holds more than 50 per cent stake in the other.
At present, all M&A transactions involving Indian companies have to get approval from (CCI), which keeps a tab on anti-competitive practices in the market place.