Lok Sabha passes Competition (Amendment) Bill, approved changes include modification of the term 'turnover': Check amendments in detail
Some of the major changes in the Competition (Amendment) Bill include the expansion of the scope of cartel prosecution, the introduction of a deal value threshold for mergers and combinations, the modification of ‘turnover’ to mean global turnover, among other amendments.
The Competition Act, 2002 (as amended) follows the philosophy of modern competition laws and aims at fostering competition and at protecting Indian markets against anti-competitive practices by enterprises. (Image: Reuters)