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of <h1>New Competition Rules Define Criteria for Combinations Effective September 2024 Under Competition Act, 2002.</h1> The Ministry of Corporate Affairs has issued the Competition (Criteria of Combination) Rules, 2024, effective from September 10, 2024, under the Competition Act, 2002. These rules define the criteria for combinations, requiring parties to notify if they meet certain conditions. Combinations are defined as entities that do not produce or provide similar, identical, or substitutable products or services and are not engaged in activities at different production stages or levels, nor complementary to each other. The rules specify that affiliates are entities with significant shareholding, board representation, or access to sensitive information.
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