Talebearer

CII wishlist

The government’s efforts to give more teeth to the Competition Commission of India (CCI) has come in for censure from Confederation of Indian Industry (CII).

The recently amended Competition Act stipulates that companies of a certain size based on asset/turnover have to seek prior approval from CCI for mergers and acquisitions. But CII wants this stipulation removed arguing that “over-regulation and procedural hurdles… could prove to be counter-productive and thwart India’s economic growth”.

The CCI was set up as a regulatory and quasi-judicial body by the government in October 2003 under the Competition Act 2002 but, till recently, was seen as ineffective with limited powers.

— Rishi Joshi

Realty MFS soon

Mutual Funds may be allowed to launch schemes targeting real estate. The buzz is that SEBI could soon permit local asset management firms to raise money from investors which would be invested in the realty sector.

This move will come at a time when property, as an asset class, is gaining popularity among investors. These funds are likely to be closed-ended.

— Rishi Joshi