Key Points
The proposed Digital Competition Bill could take some more time before being finalised, as further discussions with stakeholders are yet to be carried out...
According to sources, while comments from stakeholders have been received on the draft Bill that seeks to check anti-competitive behaviour by big tech firms in the digital economy, more consultations are ongoing...
The Ministry of Electronics and Information Technology also held meetings with tech firms and industry bodies and even their comments are awaited, noted a person familiar with the development, adding that post this a fresh draft will have to be finalised...
Another factor, sources pointed out, is the appointment of a new secretary in the Ministry of Corporate Affairs, who will now be responsible for taking forward the draft Bill..
Under the provision, all merger and acquisition related transactions including acquisitions, mergers, and amalgamations that exceed Rs 2,000 crore and involve a target enterprise in India would require approval from the Competition Commission of India (CCI)..
