MCA in its notification dated March 16, 2022, has extended the validity of certain exemptions available to enterprises by 5 more years keeping with its policy of ease of doing business in India.

• The validity of the target-based exemption (De Minimis Exemption) i.e., the requirement to notify Competition Commission of India (CCI), those combinations where the value of the assets being acquired, taken control off or merged, did not exceed INR 350 crores (Rupees three hundred fifty crores) in assets or INR 1,000 crores (Rupees one thousand crores) in turnover that was due to expire on March 28, 2022, has been extended by 5 years.
• The exemption that allowed enterprises to notify combinations to the CCI beyond the statutorily mandated period of 30 days (of entering into a binding agreement / document or approval from board of directors) has also been extended for a period of 5 years.