GOVERNMENT OF INDIA
Ministry of Corporate Affairs
UNSTARRED QUESTION NO. 2370
ANSWERED ON MONDAY, SEPTEMBER 03, 2012
Exemptions from Mergers
2370. SHRI RAJEEV CHANDRASEKHAR:
Will the Minister of CORPORATE AFFAIRS be pleased to state:
(a) whether several banks have sought an exemption from their mergers being reviewed by the Competition Commission of India (CCI), under the Competition Act, 2002;
(b) if so, the details thereof;
(c) whether the Department of Telecommunications (DoT) has also sought a similar exemption for the telecom sector; and
(d) if so, Government's decision on this issue, as granting such exemptions would affect economic governance?
THE MINISTER OF STATE IN THE
MINISTRY OF CORPORATE AFFAIRS
(SHRI R. P. N. SINGH)
(a) & (b) No, Sir. However, Department of Financial Services has approached this Ministry for granting exemption to loss making and failing organizations in the insurance sector and the banking sector from the purview of Competition Act, 2002.
(c) & (d) No such specific communication has been received from Department of Telecommunication seeking exemption in Telecom Sector.