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Date: 09-Sep-2024 Category: Extra Ordinary State: Union Government Country: India

Minimum value

Issued by Ministry of Corporate Affairs · Not Applicable

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Executive Summary & Key Takeaways

What it means

  • This gazette notification from the Ministry of Corporate Affairs, Government of India, introduces the Competition (Minimum Value of Assets or Turnover) Rules, 2024. These rules amend the thresholds for determining whether an entity falls under the purview of the Competition Act, 2002.

Key Changes

  • The rules, effective September 10, 2024, specify new minimum values for assets and turnover to trigger the application of certain provisions within the Competition Act, 2002.
  • The minimum value of assets is set at ₹450 crore (4500 million rupees).
  • The minimum value of turnover is set at ₹1250 crore (12500 million rupees).

Impact Analysis

Impact on Businesses

  • Businesses should review their current practices to ensure compliance with the updated thresholds.

Impact on the Competition Commission of India (CCI)

  • The CCI may need to adjust its resources and strategies to effectively handle the increased workload.

Impact on Consumers

  • Increased enforcement could lead to lower prices, greater choice, and improved quality of goods and services.

Suggested Action Items

  • Legal counsel should be consulted to ensure compliance with the updated rules.

Key Entities Referenced

Ministry of Corporate Affairs: The issuing authority of the gazette notification. Responsible for corporate law and regulation in India. Competition Act, 2002 (12 of 2003): The primary law governing competition in India. These rules amend the thresholds defined within this act. Competition Commission of India (CCI): The regulatory body responsible for enforcing the Competition Act, 2002. This notification will impact their workload and jurisdiction.
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रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-डी.एल.-अ.-09092024-257007 CG-DxLx-xEG-I0D9H09xx2x0 24-257007 xxxGIDExxx असाधारण EXTRAORDINARY भाग II—खण्ड 3—उप-खण्ड (i) PART II—Section 3—Sub-section (i) प्राजधकार से प्रकाजित PUBLISHED BY AUTHORITY सं. 505] नई दिल्ली, सोमर्ार, जसतम्ब र 9, 2024/भाद्र 18, 1946 No. 505] NEW DELHI, MONDAY, SEPTEMBER 9, 2024/BHADRA 18, 1946 कारपोरेट कार् यमत्रं ालर् अधिसचू ना नई दिल् ली, 9 जसतम् बर, 2024 सा.का.जन. 547(अ).— केंद्रीर् सरकार, प्रजतस्ट्पधाय अजधजनर्म, 2002 (2003 का 12) की धारा 63 की उपधारा (2) के खंड (क) द्वारा प्रित्त िजिर्ों का प्रर्ोग करते हुए, जनम्नजलजखत जनर्म बनाती है अर्ायत्:— 1. संजिप्त नाम और प्रारंभ.- (1) इन जनर्मों का संजिप्त नाम प्रजतस्ट्पधाय (आजस्ट्तर्ों र्ा आर्यत का न्र्ूनतम मूल्र्) जनर्म, 2024 है। (2) र्े 10 जसतम्बर, 2024 को प्रर्ृत्त होंगे। 2. पररभाषाएँ.- (1) इन जनर्मों में, िब तक दक संिभय में अन्र्र्ा अपेजित न हो, "अजधजनर्म" से प्रजतस्ट्पधाय अजधजनर्म, 2002 (2003 का 12) अजभप्रेत है। (2) उन िब्िों और पिों के िो इसमें प्रर्ुि हैं और पररभाजषत नहीं है र्ही अर्य होंगे िो उस अजधजनर्म में हैं। 5754 GI/2024 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)] 3. आजस्ट्तर्ों और आर्तय का न्र्नू तम मल्ू र्.- अजधजनर्म की धारा 5 के खंड (ङ) के प्रर्ोिनों के जलए,— (क) आजस्ट्तर्ों का मूल्र् चार सौ पचास करोड़ रुपर्े होगा; और (ख) आर्यत का मूल्र् एक हिार िो सो पचास करोड़ रुपर्े होगा। [फा. सं. कॉम्प-05/4/2023-कॉम्प-एमसीए] मनोि पाण्डेर्, अपर सजचर् MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 9th September, 2024 G.S.R. 547(E).— In exercise of the powers conferred by clause (a) of sub- section (2) of section 63 of the Competition Act, 2002 (12 of 2003), the Central Government hereby makes the following rules namely:– 1. Short title and commencement.–– (1) These rules may be called the Competition (Minimum Value of Assets or Turnover) Rules, 2024. (2) They shall come into force with effect from the 10th day of September, 2024. 2. Definitions.–– (1) In these rules, unless the context otherwise requires, "Act" means the Competition Act, 2002 (12 of 2003). (2) The words and expressions used in these rules but not defined, shall have the same meanings, respectively assigned to them in the Act. 3. Minimum Value of Assets and Turnover.–– For the purposes of clause (e) of section 5 of the Act,–– (a) the value of assets shall be rupees four hundred and fifty crore; and (b) the value of turnover shall be rupees one thousand two hundred and fifty crore. [F.No. Comp-05/4/2023-Comp-MCA] MANOJ PANDEY, Addl. Secy. Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

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