The Competition Commission of India (CCI) is looking forward to the ratification of Sections 5 and 6 of the Competition Act that would allow full control over mergers and acquisitions, according to Dhanendra Kumar, chairman, CCI.

Speaking on the sidelines of the National Executive Committee meeting of Ficci, he said that the Commission is keen on giving its consent for all mergers and acquisitions within 30 days of filing. However, this is possible only if the government ratifies Sections 5 and 6 of the Competition Act. While Section 5 of the Act says that an Indian company with a turnover of Rs 3,000 crore cannot acquire another Indian company without prior notification and approval of the Commission, Section 6 prohibits people or enterprises from entering into a combination which causes or is likely to cause an appreciable adverse effect on competition within the relevant market in India and such a combination shall be void.

?It is up to the government to ratify it. But these Acts would ensure that any M&A deal does not affect the markets. On the other hand, we clear almost 95% of cases within 30 days of filing. However, for cases where further investigation is needed, clearance would be delayed. Our endeavor is to seal them within 180 days,? he said.

Speaking on capacity building of the organisation, he said the CCI officials would be trained on various issues related to competition by European Commission and USA?s Federal Trade Commission and Department of Justice experts.

Replying to a question on the status of cases, Kumar said CCI received 118 cases so far of which 68 have been filed directly with the Commission. About 57 cases have been forward to director general for investigation, 24 have been closed after finding no violation and five have reached the finalisation stage. He said the Commission can take up complaints suo motto if any deal appears to have violated the Competition Laws.

Meanwhile, dismissing concerns over uncertainty of a separate statehood and the recent, Andhra Pradesh chief minister K Rosaiah said that the government would go all-out to ensure that the industrial activity remains unaffected. While addressing the Ficci meeting, he said that the demand for a separate state was not new. The Centre had appointed Justice Sri Krishna Committee to study the situation in the state. The committee is supposed to submit its report by the year end. The Centre would then take a decision on Telangana.