PIB News Update: By way of the Competition Commission of India (Procedure in regard to the Transaction of Business relating to Combinations) Amendment Regulations, 2020, the Commission has deleted paragraph 5.7 of Form I, one of the formats prescribed for notification of proposed combinations. This was with a view to relax disclosure requirements regarding non-compete restrictions, entered into as a part of combinations. In this regard, the Commission has further withdrawn the Guidance Note on Non-compete restrictions.
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