https://www.taxtmi.com/caselaws?id=358866 Interconnected market purchases, demerger and amalgamation were treated as one composite combination under the Competition Act because the substance of the arrangement, not isolated steps, determined the notification obligation. The target-based exemption could not be applied by severing a contemporaneous step that formed part of the overall transaction, so notice under section 6(2) was required. Penalty under section 43A was characterised as a civil consequence for breach of a statutory duty, and non-notification attracted penalty without proof of mala fides or mens rea. The Tribunal's order was set aside and the penalty order restored. en-us Tue, 17 Apr 2018 00:00:00 +0530 Fri, 20 Apr 2018 05:57:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=358866 Interconnected market purchases, demerger and amalgamation were treated as one composite combination under the Competition Act because the substance of the arrangement, not isolated steps, determined the notification obligation. The target-based exemption could not be applied by severing a contemporaneous step that formed part of the overall transaction, so notice under section 6(2) was required. Penalty under section 43A was characterised as a civil consequence for breach of a statutory duty, and non-notification attracted penalty without proof of mala fides or mens rea. The Tribunal's order was set aside and the penalty order restored. Case-Laws Law of Competition Tue, 17 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=358866