Lok Sabha Question No. 1154 (UNSTARRED), answered on 2020-02-10
Subject: Mergers and Acquisitions
Ministry: CORPORATE AFFAIRS
Asked by: Kirit Premjibhai Solanki

## GOVERNMENT OF INDIA

## MINISTRY OF CORPORATE AFFAIRS LOK SABHA

UN-STARRED QUESTION NO. 1154

ANSWERED ON MONDAY, THE 10 th  FEBRUARY, 2020/ MAGHHA 21, 1941 (SAKA)

## MERGERS AND ACQUISITIONS QUESTION

1154. DR. (PROF.) KIRIT PREMJIBHAI SOLANKI:

Will the Minister of CORPORATE AFFAIRS be pleased to state:

कॉर्पोरे ट कार्य मंत्री

- (a) the  details  of  all  Mergers  and  Acquisitions  in  India  during  the  years 2017-2019,  with  the  name  of  the  merging  companies,  acquiring company and the date in which the agreements was completed;
- whether  out of the total FDI inflows into India a large part is in the
- (b) form of Mergers/Acquisitions; and
- (c) if so, the details thereof along with the reasons why India is getting a large amount of Mergers and Acquisitions?

## ANSWER

THE MINISTER OF STATE FOR FINANCE AND CORPORATE AFFAIRS       (SHRI ANURAG SINGH THAKUR) वित्त एिं कॉर्पोरे ट कार्य मंत्रालर् में राज्य मंत्री ( श्रीअनुराग व ंह ठाक ु र )

- (a) to (c): The Competition Commission of India(CCI) under the Competition Act, 2002 receives the notice of Combinations (Mergers and Acquisitions)  above  certain  thresholds  defined  in  terms  of  Assets  and Turnover under section 5 of the Competition Act, 2002. Besides, certain other  transactions  (Merger  &  Acquisitions)  are  also  not  notified  to  the Commission pursuant to the exemption notification issued by Government of India (Deminimis Notification) or the relaxation provided under the regulations issued by the Commission regarding regulation of combinations. The details of combinations such as name of the parties and  date  of  approval  of  combinations,  during  the  years  2017-19  are available on Commission's website. The link to the same is https://www.cci.gov.in/10.      CCI  does  not  receive  information  regarding date of completion of agreements from the merging /acquiring enterprises.

Further, under the provisions of section 230 to 232 of the Companies  Act,  2013  r.w.  Companies  (Compromise,  Arrangements  and Amalgamation) Rules, 2016, the National  Company Law Tribunals (NCLTs), approves the schemes, further, under the provisions of section 233 of the Companies Act, 2013, the Central Government has delegated Regional Directors to approve the scheme of Mergers and Amalgamations between certain class of companies after following the thorough process of Law. The details of Scheme, such as name of the parties and date of approval  of  schemes  during  the  years  2017-19  are  available  on  NCLT website. The link to the same is https://nclt.gov.in/exposed-orderjudgements-page.

Number of Schemes approved by the Tribunal/ Regional Director/ Central Government,  combination  approved  by  the  CCI  during  the  period  20172019 are as under:

|          |   2017-18 |   2018-19 |   Total |
|----------|-----------|-----------|---------|
| CCI      |        73 |        89 |     162 |
| RD       |       853 |       777 |    1630 |
| G. Total |       926 |       866 |    1792 |

The  Ministry  of  Commerce  and  Industry,  Department  for  promotion  of Industry and Internal Trade has informed as under (Source: RBI):

|   Sl No. | Year                         | FDI Equity Inflows reported through Acquisition Casesin US$ million   | Total FDI Equity Inflows   |
|----------|------------------------------|-----------------------------------------------------------------------|----------------------------|
|        1 | 2017-18 (April to March)     | 7,490.73                                                              | 44,856.75                  |
|        2 | 2018-19 (April to September) | 5,622.14                                                              | 44,366.03                  |

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