- Recently the Competition Commission of India (CCI) has received a request for merger of a company following green channel combination route.
What is a Green Channel Route?
- In a bid to facilitate mergers and acquisitions (combination) in the country, the Competition Commission of India (CCI) has taken inspiration from the customs department and established a ‘green channel’.
- Every Combination above a certain threshold, seeking to be sanctioned has to necessarily pass the CCI scanner in order to be approved.
- The CCI characterizes the ‘green channel’ as an automatic system of approval for Combinations wherein the Combination is deemed to be approved upon filing the notice in the format prescribed.
- The ‘green channel automatic approval upon notification route’ is a right step by CCI towards the propaganda of ease of doing business in India.