Evolving Dynamics Of Mergers And Acquisitions In India: Legal Reforms, Regulatory Shifts, And Future Pathways
- IJLLR Journal
- Nov 16, 2025
- 2 min read
Mahalakshmi, Presidency University
ABSTRACT
Mergers and Acquisitions (M&A) have become an indispensable component of modern business strategy, serving as a catalyst for growth, innovation, and market expansion. In the Indian context, the past decade has marked a profound transformation in the M&A landscape, driven by both economic liberalization and legislative modernization. The convergence of regulatory oversight by the Ministry of Corporate Affairs (MCA), the Competition Commission of India (CCI), the Securities and Exchange Board of India (SEBI), and the Reserve Bank of India (RBI) has created a multifaceted legal ecosystem that seeks to balance investor freedom with market integrity.
This research paper critically examines India’s evolving M&A regime from a legal and policy perspective, focusing on key reforms under the Companies Act, 2013, the Competition (Amendment) Act, 2023, and SEBI’s progressive regulatory interventions. It explores how these developments reflect India’s ambition to align with global best practices, particularly concerning the introduction of deal-value thresholds, the material influence test, and procedural reforms in NCLT adjudication. Furthermore, the study delves into sectoral implications, cross-border mergers, and the increasing relevance of ESG (Environmental, Social, and Governance) considerations in corporate consolidation.
By analyzing landmark mergers such as HDFC–HDFC Bank, Zee–Sony, and Zomato–Blinkit, the paper illustrates the growing sophistication of India’s regulatory regime. It argues that while the country’s framework is moving towards efficiency and transparency, lingering challenges such as regulatory overlap, procedural delays, and valuation disputes require urgent attention. The paper concludes by recommending a coherent, technology-driven, and unified regulatory approach that can enable India to emerge as a global hub for strategic corporate restructuring and sustainable business integration.
Keywords: Mergers and Acquisitions, Competition Act, Companies Act, SEBI, CCI, Legal Reforms, Corporate Governance, India, Regulatory Framework.
