Regulation of audit firms: strengthen independent oversight and checks on networks to address conflicts and market concentration.
The Committee reviewed structures and operations of large audit networks, found risks from conflict of interest, non-audit services, opacity and market concentration, and recommended regulatory checks and institutional reform by establishing and strengthening the National Financial Reporting Authority to shift from self-regulation to independent oversight and to address contemporary challenges posed by auditors, audit firms and networks.

Information asymmetry in healthcare restricts consumer choice, prompting competition advocacy to promote transparency and pro competitive regulation.
Information asymmetry and distributional practices constrain consumer choice and limit competition in pharmaceuticals and healthcare; the Commission recommends supply side interventions such as broader public procurement, regulated electronic drug trading, strict and consistent application of statutory quality controls to address branded generic premiums (including consideration of a one company one drug one brand one price policy), and harmonised regulatory processes to ensure uniform implementation and time bound approvals.

Cross-border insolvency frameworks enable recognition of foreign proceedings and participation by foreign representatives in domestic insolvency.
Adoption of a statutory cross-border insolvency framework by incorporating the UNCITRAL Model Law with specified carve-outs is recommended to preserve domestic primacy and public interest while enabling recognition of foreign proceedings, participation by foreign creditors and practitioners, and enhanced international cooperation; the regime emphasises direct access, recognition and remedies, cooperation between courts and practitioners, coordination of concurrent proceedings, and identification of the main proceeding via the centre of main interest (COMI).

Freedom to exit: insolvency law promotes orderly, creditor-led resolution while urging CoC regulation and stronger IBBI powers
The lecture characterised the Insolvency and Bankruptcy Code, 2016 as a market-led framework for orderly resolution of viable firms and efficient exit of unviable ones, promoting economic freedom through free entry, free competition and free exit; it highlighted creditor-led control via the Committee of Creditors, recommended enhanced training for insolvency professionals, and urged greater regulatory powers for the Insolvency and Bankruptcy Board of India and specific regulations to govern Committee of Creditors conduct.

Board supersession authorises appointment of new directors to prepare a time bound resolution plan to protect public interest.
Government petitioned the tribunal alleging affairs of the holding company and group were conducted prejudicial to public interest, leading to suspension of the existing board and prohibition on its members representing the company. The tribunal approved induction of six government recommended directors; the Government issued orders appointing them. The new Board is tasked with preparing a robust, time bound resolution plan and assuming governance responsibilities after completion of due procedures.

Board supersession under Companies Act enables management change to prevent mismanagement and secure liquidity support.
The government applied to the Tribunal under section 241 read with 242 of the Companies Act to supersede the existing Board and appoint a new Board, citing repeated defaults, severe liquidity gap, misrepresentation of financial position, excessive leveraging and resultant systemic risk. Board replacement is presented as the necessary first step to restore market confidence and permit orderly measures-time bound asset sales, receivable realisation, liability restructuring, fresh capital infusion and temporary liquidity support-alongside investigatory steps including an SFIO probe.

Competition law review to update the Act, align merger and antitrust rules, and address cross-border competition issues.
Constitution of a Competition Law Review Committee to reassess and propose amendments to the Competition Act, Rules and Regulations to reflect changing business conditions. The Committee will examine international antitrust and merger control practices, address cross border competition issues, and study overlaps with other regulatory regimes and institutional mechanisms, then submit a report within three months of its first meeting.