TMI BlogOrders of Commission on combinationsX X X X Extracts X X X X X X X X Extracts X X X X ..... e opinion that the combination has, or is likely to have, an appreciable adverse effect on compe tition, it shall direct that the combination shall not take effect. 4 [ (3) Where the Commission is of the opinion that any appreciable adverse effect on competition that the combination has, or is likely to have, can be eliminated by modification proposed by the parties or the Commission, as the case may be, under sub-section (7) of section 29 or sub-section (2) or sub-section (3) of section 29A, it may approve the combination subject to such modifications as it thinks fit. (4) Where a combination is approved by the Commission under sub-section (3), the parties to the combination shall carry out such modification within such period as may be sp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... such acquisition or acquiring of control or merger or amalgamation had not taken place and the parties to the combination shall be dealt with accordingly. (14) Nothing contained in this Chapter shall affect any proceeding initiated or which may be initiated under any other law for the time being in force. ************** NOTES:- 1. Omitted vide Competition (Amendment) Act, 2023 dated 11-04-2023 before it was read as, certain 2. Omitted vide Competition (Amendment) Act, 2023 dated 11-04-2023 before it was read as, including the combination 3. Inserted vide Competition (Amendment) Act, 2023 dated 11-04-2023 4. Substituted vide Competition (Amendment) Act, 2023 dated 11-04-2023 before it was read as, (3) Where the Commission is of the opinion t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... orking days within which such parties shall accept the modification proposed by the Commission under sub-section (3). (9) If the parties fail to accept the modification proposed by the Commission within thirty working days referred to in sub-section (6) or within a further period of thirty working days referred to in sub-section (8), the combination shall be deemed to have an appreciable adverse effect on competition and be dealt with in accordance with the provisions of this Act. (10) Where the Commission has directed under sub-section (2) that the combination shall not take effect or the combination is deemed to have an appreciable adverse effect on competition under sub-section (9), then, without prejudice to any penalty which may be imp ..... X X X X Extracts X X X X X X X X Extracts X X X X
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