https://www.taxtmi.com/caselaws?id=358806 A passive-investment exemption under the Combination Regulations was unavailable where the share purchase of 24.46% was accompanied by a strategic press release and an apparent intention to influence the target, so the acquisition was not a mere investment and required notification. Prior notice under section 6(2) had to precede consummation of the combination, and a later notice could not cure non-compliance; placing shares in escrow did not alter the statutory requirement. Civil penalty under section 43A was held to follow from the contravention itself, without proof of mens rea, with discretion limited to the amount of penalty. en-us Tue, 17 Apr 2018 00:00:00 +0530 Thu, 19 Apr 2018 05:35:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=358806 A passive-investment exemption under the Combination Regulations was unavailable where the share purchase of 24.46% was accompanied by a strategic press release and an apparent intention to influence the target, so the acquisition was not a mere investment and required notification. Prior notice under section 6(2) had to precede consummation of the combination, and a later notice could not cure non-compliance; placing shares in escrow did not alter the statutory requirement. Civil penalty under section 43A was held to follow from the contravention itself, without proof of mens rea, with discretion limited to the amount of penalty. Case-Laws Law of Competition Tue, 17 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=358806