Explain De Minimis Exemption under the Competition Act, 2002.

The Central Government has granted exemption to acquisition of small targets which is known as de minimis exemption. Combinations where the assets or the turnover is below the specific thresholds need not be notified to the Commission for its approval. According to Notification No.S.O.988(E) dated March 27, 2017, all forms of combinations involving assets of not more than ₹350 crore in India or turnover of not more than ₹1,000 crore in India, are exempt from Section 5 of the Act for a period of 5 years. Following table gives an overview of the thresholds for availing of the De Minimis exemption: THRESHOLDS FOR AVAILING OF DE MINIMIS EXEMPTION Assets Turnover Target Enterprise In India < ₹350 Cr OR < ₹1,000 Cr Notification No. S.O.988 (E) dated March 27, 2017 has given a relaxation to the combinations where a portion of an enterprise or division or business is being acquired, taken control of, merged or amalgamated with another enterprise.