Six M&A deals approved as Indian regulator bypasses quorum, invokes doctrine of necessity
By Freny Patel ( February 10, 2023, 01:29 GMT | Insight) -- The logjam of merger and acquisition reviews linked to the Indian government’s failure to appoint a new chief of the country’s antitrust agency finally came to an end late Thursday evening as the watchdog cleared six of the 20 pending merger filings. The Competition Commission of India invoked the doctrine of necessity to bypass the required quorum of three commissioners, bringing a sigh of relief to the Indian legal community who were embarrassed as their deals were stuck ever since CCI's former chairman Ashok Kumar Gupta retired in late October.The logjam of merger and acquisition reviews linked to the Indian government’s failure to appoint a new chief of the country’s antitrust agency finally came to an end late Thursday evening as the watchdog cleared six of the 20 pending merger filings....
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