Professor at Siksha 'O' Anusandhan University, Bhubaneswar, Odisha, India
The wave of globalization and liberalization during the 1990’s has brought sea in economic reforms across industries, which were associated with idea of restructuring and maintaining financial stability. The banking sector in India has witnessed large scale forced mergers with vision to either achieve scale of economies or promote universal banking. Increased competition in the global market induced banking companies to volunteer for mergers as a strategic choice to enter new markets, gain complementary capabilities etc. which demanded regulatory laws and policy governance to intervene so as to tackle unfair completion and abusive practices. With the establishment of the Competition Commission in 2002, debates over exemptions from its scrutiny were raised amidst existing norms of the Reserve Bank of India in granting approvals. In the light of series of proposed Banking Regulation (Amendment) Bills, as well as recent deliberations over Competition Amendment Bill, 2023 it thus, became imperative to study the paraphernalia of existing regulatory regime with judicial mandate to critically analyze the key areas of turf between the economic regulator and the commission in assessing combinations and mergers. Doctrinal approach of investigation was adopted with secondary resources of data and literature. The analysis suggested that, procedural intricacies involved in regulation of mergers and combinations need to be uniformly aligned under a single code balancing distinct responsibilities of both the regulators.
Article
International Journal of Law Management and Humanities, Volume 7, Issue 5, Page 2096 - 2116
DOI: https://doij.org/10.10000/IJLMH.118441This is an Open Access article, distributed under the terms of the Creative Commons Attribution -NonCommercial 4.0 International (CC BY-NC 4.0) (https://creativecommons.org/licenses/by-nc/4.0/), which permits remixing, adapting, and building upon the work for non-commercial use, provided the original work is properly cited.
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