CCI Vs SEBI: An Analysis Of Overlapping Regimes In India

Shweta Nimwal, NALSAR University of Law

Ekta Nimwal, Faculty of Law, University of Delhi

Korra Anand Nayak, NALSAR University of Law

ABSTRACT

In practicality, every nation throughout the world faces the overlap of jurisdiction between the sectoral regulator and the apex competition regulator as many authorities are working at the same time to evaluate if transactions are compliant with a plethora of regulations. India, like the rest of the world, has a slew of regulators that must approve the transactions between businesses. This paper sets out to identify securities regulators in the Indian economy that is Securities Exchange Board of India (SEBI) and critically analyse the overlapping jurisdiction between SEBI and the Competition Commission of India (CCI). Because of these authorities' overlapping responsibilities, transactions may be stalled unnecessarily due to the many (and sometimes contradictory) regulatory requirements that must be completed in order for a transaction to be approved. In India's multi- regulator system, coordination between regulators is critical to guarantee legal certainty and clarity, as well as to give corporates and market participant’s confidence in the outcome of transactions and the extent of liability for their day-to-day business behaviour. The need for coordination arises from overlaps in the regulating legislation of such regulators, as well as different trigger points set forth in the legislation. The authors deals with two specific themes of overlapping and ambiguity, which are, ‘mergers and acquisitions and ‘credit rating agencies’. Finally, the research presented in this paper aims to provide a suggestion to the regulatory snag that has been a barrier to attracting investment from both India and overseas in a variety of areas.