In its order, reviewed by ET, the Registrar of Companies for the national capital region of Delhi and Haryana under the MCA said the company and the officials are liable for penal action for "failure to take necessary steps as per section 90-4A (of the Companies Act) to identify the SBO in relation to the company".
CCI has been working for the past year to prepare a regulatory framework under the Competition Amendment Act, 2023, which introduces best international practices for addressing new threats to market competition. The new regulations cover a number of topics, such as regulated mergers and acquisitions based on deal value, negotiated settlements with businesses regarding anti-competitive practices