Merger control triggers and thresholds in chile lexology. Commissioner shailesh gandhi told toi that the right to information act was going into a coma in maharashtra, it emerges. It is an initiative taken by department of personnel and training, ministry of personnel, public grievances and pensions to provide a rti portal gateway to the citizens for quick search of information on the details of first appellate authorities,pios etc. Merger and acquisition process benefits, types and differences.
The factories act, 1948 maharashtra industry, trade and. Whether a conglomerate merger is pure, geographical, or a productline extension, it involves firms that operate in separate markets. Jan 08, 2018 the new merger control system will apply to any fact, act or convention, or combination thereof, which results in two or more economic agents which are not part of the same business group and. And whereas it is expedient to replace the said ordinance by an act of the state legislature. A read is counted each time someone views a publication summary such as the title, abstract, and list of authors, clicks on a figure, or views or downloads the fulltext. Mergers and acquisition are strategic decisions taken for maximization of a companys growth by enhancing its production and marketing operations. Right to information the right to information accessible under this act which is held by or under the control of any public authority and includes the right to i inspection of work, documents, records. In 2000, a sustained advocacy campaign by social activist anna hazare forced the maharashtra government to pass the maharashtra right to information act. The act is a big step towards making the citizens informed about the activities of the government. It is an initiative taken by general administration department, government of maharashtra to provide a rti maharashtra portal gateway to the citizens for quick search of information on the details of first.
In this article, we will discuss the types, benefits, differences for the mergers and acquisitions process what is merger. Right to information act, 2005 wikisource, the free online. Therefore, a conglomerate transaction ordinarily has no direct effect on competition. If you do not have the pdf reader in your computer, please download pdf reader to view the above acts. The term merger has not been defined under the companies act 1956 or income tax act 1961, however, companies act 20 explain the concept merger. Under the new tax act the new tax act the tax act was originally known as the tax cuts and jobs act but for technical reasons the new tax act dropped this name modifies how business acquisitions and mergers will be structured. Maharashtra state information commission wikipedia. All the property of the amalgamating company or companies immediately before the amalgamation becomes the property of the amalgamated company by virtue. This act provides that the citizens shall be provided services by the state government in a transparent, efficient and time bound manner. Right to information rti is an act of the parliament of india which sets out the rules and procedures regarding citizens right to information. The government of india, through the ministry of corporate affairs mca, by way of a notification, has revised the merger control thresholds under the competition act, 2002 act on march 04, 2016, valid for a period of 5 five years, ending on march 04, 2021notification. Best business future mergers and acquisitions in india educba. This act allows the public to seek information from any governmental department, thereby increasing accountability and transparency of the establishment, and allowing it to share power with the.
Right to information act, 2005 wikisource, the free. Babasaheb ambedkar marathwada university, aurangabad, is a leading and prime higher educational institutes in maharashtra of india. Mergers and acquisitions are now also active in information technology sector and is gaining strength and expanding its customer base. First published, after having received the assent of the governor in the maharashtra government gazette, on the 18th april 2015. Power to declare different departments to be separate factories or two or more factories to be a single factory. Best business future mergers and acquisitions in india. It replaced the former freedom of information act, 2002. Substantive changes introduced in the indian merger control. In order to ensure effective implementation of this act, the maharashtra state commission for right to service has been established. In exercise of the powers conferred by clause a of section 54 of the competition act, 2002 12 of 2003, the central government, in public interest, hereby exempts the group exercising less than fifty per cent. Dec 04, 2008 right to information act 2005 mandates timely response to citizen requests for government information. It is important for the government of india to come out with further clarifications and amendments keeping in mind the practical implications of a cross border merger. There is no reduction or other change in the number of. The new merger control system will apply to any fact, act or convention, or combination thereof, which results in two or more economic agents which.
First published, after having received the assent of the governor in the maharashtra government gazette, on the 21st august 2015 an act to provide for delivery of transparent, efficient and timely public services to the eligible persons in the state of. The right to information act 2005 which came fully into effect on12th october 2005 is one of the most significant legislation. The competition act, 2002 itself lays down stringent time lines the commission must take a view within 90 working days from the day it has obtained complete information failing which the merger is deemed to have been approved. Recent changes to merger control india corporate law. Details of maharashtra state information commission. In the absence of specific provisions to govern cross border mergers, the current merger framework may not be efficient, especially in the case of an outbound merger. In a little over seven years since the commencement of merger control under the competition act, more than 630 combinations have been notified to the cci. Information rti act 2005 mazagon dock shipbuilders. To qualify the allocation, these mergers or demergers are required to full the requirements related to section 219aa and section 21b of the indian. What you should know about the right to information act 2005 source. Insolvency and bankruptcy code, 2016 the code repeals the erstwhile sick industrial companies special provisions act, 1985 sica and appears to be an effective, timebound mechanism for dealing with the problem of everescalating nonperforming assets npas.
Right to information act in india complete information on. The rti act 2005 of india started with much fanfare and hopes of clear and clean flow of information to the citizens of india, but even after close to 10 years of its roll out we find its nowhere close to providing a basic framework for efficient, consistent, reliable and analyzable information dissemination. Merger and acquisition in information technology sector by. The term merger is not defined under the companies act. An act to amend the right to information act, 2005. Be it enacted by parliament in the seventieth year of the republic of india as follows. It is an initiative taken by department of personnel and training, ministry of personnel, public grievances and pensions to provide a rti portal gateway to the citizens for quick search of information on the details of first appellate authorities,pios.
While the changes are aimed at simplifying and rationalising the procedures involved, the new provisions are also aimed at ensuring higher accountability for the company and majority shareholders and increasing flexibility for. However, this act was not notified and the newly elected government after general. Maharashtra secretly introduced 2 new rti amendments. The merger can be defined as a combination of two or more entities to make a new entity. The companies act provides for the fundamental statutory framework for the investment into, transfer, purchase and sale, windingup and liquidation of companies. A merger is a combination of two companies where one corporation is completely absorbed by another corporation. Delhi, maharashtra karnataka, assam, madhya pradesh and goa. Maharashtra to amend land acquisition act the hindu. Mergers and acquisitions in india a general analysis. A new dawn for indias cross border merger regime india. Rti mumbai suburban district, government of maharashtra india. State, cicbarti, dated 18 th june, 2012 expressed his desire that barti should initiate awareness programmes, as enumerated in section 26 1 of the rti act, 2005 for. The term merger is not defined under the companies act, 1956 ca 1956, and under income tax act, 1961 ita. Exemptions the combination act and regulations provide that notice in respect of.
Effect of compitition law on mergers and acquisition. By granting to the public a general right of access to otticial documents held by. The less important company loses its identity and becomes part of the more important corporation, which retains its identity. The maharashtra government on wednesday decided that land acquired for public and private purposes in rural areas will get four times the market rate. Substantive changes introduced in the indian merger. Whereas it is expedient further to amend certain tax laws in operation in.
Mergers and acquisitions in india a general analysis corporate law the indian economy has been growing with a rapid pace and has been emerging at the top, be it it, randd, pharmaceutical, infrastructure, energy, consumer retail, telecom, financial services, media, and hospitality etc. Jet airways insolvency resolution professional invited fresh expressions of interest eoi for the grounded airline. An act further to amend certain tax laws in operation in the state of maharashtra. Thus, the above three conditions should be satisfied for a merger to qualify as an amalgamation within the meaning of the incometax act 1961. Under the provisions of rti act, any citizen of india may request information from a public authority a body of government or instrumentality of state which is required to reply. However, the companies act, 20 ca 20 without strictly defining the term explains the concept. The right to information act, 2005 rti is a law enacted by. Notification regarding the application fee application form dated 230420. Merger and acquisition process benefits, types and.
During the course of evolving of the rti act, 2005, department of personnel and training dopt has issued clarifications on various provision of the act. The following summarizes the tax acts provisions affecting the merger and acquisition. Bringing information to the citizens, right to information act 2005 mandates timely response to citizen requests for government information. May 24, 2017 in the absence of specific provisions to govern cross border mergers, the current merger framework may not be efficient, especially in the case of an outbound merger. Right to public services act your service is our duty. Mergers and acquisitions in india mergers and acquisitions as we know imply alliance of two or more companies future. Where a merger leads to formation of a new company, acquisition leads to purchase of a company by other and no new company is formed. The 20 act features some new provisions in the area of mergers and acquisitions, apart from making certain changes from the existing provisions. Right to information act, 2005 maharashtra state information commission seventh annual report, 2012 date 1st january, 2012 to 31st december, 2012 th floor, new administrative building, madam cama road, mumbai400 032. A merger is a combination of two or more entities into one. Indian merger control thresholds revised under the. Right to information act 2005 mandates timely response to citizen requests for government information. Jun 10, 2016 in exercise of the powers conferred by clause a of section 54 of the competition act, 2002 12 of 2003, the central government, in public interest, hereby exempts the group exercising less than fifty per cent.
Mar 17, 2020 an act to provide for setting out the practical regime of right to information for citizens to secure access to information under the control of public authorities, in order to promote transparency and accountability in the working of every public authority, the constitution of a central information commission and state information commissions and for matters connected therewith or incidental. Kavayitri bahinabai chaudhari north maharashtra university. Jan 23, 2015 mergers and acquisition are strategic decisions taken for maximization of a companys growth by enhancing its production and marketing operations. Babasaheb ambedkar marathwada university university campus, near soneri mahal, jaisingpura, aurangabad 431004 maharashtraindia ph. An act to provide for setting out the practical regime of right to information for citizens to secure access to information under the control of public authorities, in order to promote transparency and accountability in the working of every public authority, the constitution of a central information commission and state information commissions and for matters connected therewith or incidental. Further, in transactions involving the acquisitionmerger of only a business, division. The maharashtra right to public service act, 2015 is a revolutionary act. An applicant who desires to obtain any information under the rti act 2005 can. The maharashtra state tax on profession, trades, callings. Memorandum on the right to information act of the state of nepal. Main objective of the commission is fulfilling the mandate assigned in the right to information act, 2005. Please find set out below the revised thresholds for your ease of r.
Section 6 of the competition act prohibits transactions that cause or are likely to cause an aaec in india and makes them void. This is the fourth time that eoi has been invited for. Jan 17, 2018 the maharashtra government on wednesday decided that land acquired for public and private purposes in rural areas will get four times the market rate. Introduction to legal procedures for merger, amalgamations and takeovers the basis law related to mergers is codified in the indian companies act, 1956 which works in tandem with various regulatory policies. The right to information act came into force all over india on october 12, 2005 120th day of its enactment on 15th june, 2005. In addition to the response provided in question 4. Name of the office state information commission, konkan region.
An act to provide for setting out the practical regime of right to information for citizens. Right to information act 2005 government of maharashtra. Introduction to mergers and acquisitions 7 ventures to complete mergers. Maharashtra secretly introduced 2 new rti amendments india.
Find right to information act news headlines, photos, videos, comments, blog posts and opinion at the indian express. Maharashtra state information commission maharashtra india has been constituted under subsection 1 of section 15 of the right to information rti act, 2005 of government of india. The regulation in india of mergers under competition law commenced only on june 1, 2011 when sections 5 and 6 of the competition act, 2002 competition act entered into effect. Right to information act latest breaking news, pictures, photos and video news. Apr 02, 2012 maharashtra secretly introduced 2 new rti amendments. Effect of compitition law on mergers and acquisition legal.
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