Ministry of Corporate Affairs revises threshold limits for value of Assets and Turnover for purposes of combination filings under Competition Act, 2002 as a step towards ‘Ease of doing Business’
The Ministry of Corporate Affairs has revised the existing threshold value of assets and turnover mentioned under Section 5 of the Competition Act, 2002 (the ‘Act’).
Earlier, the threshold limits prescribed under Section 5 of the Act were revised in year 2011 vide notification S. O. No. 480 (E) dated 4th March 2011. Subsequently, the threshold limits were reviewed and revised in 2016 vide notification S. O. No. 675 (E) dated 4th March, 2016.
The value of assets and turnover after revision is as under:
|
| 2016 (Existing Threshold) | 2024 (Revised Threshold) # | ||||
Assets |
OR | Turnover | Assets |
OR | Turnover | ||
Enterprise level | India | > 2000 INR Crore | > 6000 INR Crore | > 2500 INR Crore | > 7500 INR Crore | ||
In India or Outside India |
> USD 1 bn with at least
> 1000 INR Crore in India |
> USD 3 bn with at least
> 3000 INR Crore in India | > USD 1.25 bn with at least
> 1250 INR Crore in India | > USD 3.75 bn with at least
> 3750 INR Crore in India | |||
OR | |||||||
Group Level | India | > 8000 INR Crore | > 24000 INR Crore | > 10000 INR Crore | > 30000 INR Crore | ||
In India or Outside India | > USD 4 bn with at least
> 1000 INR Crore in India | > USD 12 bn with at least
> 3000 INR Crore in India | > USD 5 bn with at least
> 1250 INR Crore in India | > USD 15 bn with at least
> 3750 INR Crore in India | |||
#: As per the revised threshold, the increase in value is 150% over the original value under section 5 of the Competition Act, 2002.
In exercise of the powers conferred by clause (a) of section 54 of the Competition Act, 2002 (12 of 2003) it has also been decided with regards to de-minimis thresholds that the value of assets and turnover be enhanced from INR 350 crore (rupees three hundred fifty crore) to INR 450 crore (rupees four hundred fifty crore) for assets and from INR 1000 crore (rupees one thousand crore) to INR 1250 crore (rupees one thousand two hundred fifty crore) for turnover.
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