Government extends the validity of the ‘Small Target’ Exemption for 5 years
In a significant development to the merger control regime in India, the Government of India, by way of a notification published on March 16, 2022, has extended the validity of the de minimis or the ‘small target’ exemption for another 5 years i.e., until 29 March 2027 (“Small Target Exemption”).
The Small Target Exemption excludes a transaction from mandatory notification to, and approval from, the Competition Commission of India where the enterprise (i.e., the enterprise whose shares, voting rights, assets, or control are being acquired or are being merged or amalgamated) either has assets of not more than INR 350 crores (USD 47 million) in India or turnover of not more than INR 1,000 crores (USD 134 million) in India.
The asset and turnover thresholds prescribed under the Small Target Exemption remain unchanged since they were last revised in March 2017.
This Newsletter has been prepared by the JSA Competition Law Team.
For further details, please contact [email protected]
