Friday, 24 March, 2023

Fraudulent M&A disclosures will lead to severe penalties: CCI chief

<p>Companies that provide inaccurate or incomplete disclosures to the Competition Commission of India will be subject to heavier fines, according to chairperson Ashok Kumar Gupta. Faster merger and acquisition (M&amp;A) approval provisions in the Competition (Amendment) Bill of 2022 will operate on a trust-based framework, he said. Those discovered abusing this trust-based system by providing insufficient disclosures will face harsh penalties, he warned.</p>