MCA exempts banking company from the provisions of combinations

Mar 12, 2020 | by Avantis RegTech Legal Research Team


Commercial Compliance

The Ministry of Corporate Affairs (MCA) on March 11, 2020, has notified that the banking company is exempted from the application of the provisions of amalgamation of one or more enterprises by one or more persons or merger or amalgamation of enterprises as specified under the Section 5 and 6 of the Competition Act, 2002, in public interest for a period of 5 years from the date of publication of this notification in the Official Gazette that is March 11, 2020.

[Notification No. S.O. 1034(E)]

 


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