"For the purpose of de minimis exemption under the Competition Act, 2002 the value of assets and turnover of the entire target enterprise would be considered". Comment.

Every combination must mandatorily be notified to the Competition Commission of India, unless the parties are able to avail any of the exemptions provided under the Competition Act, the Combination Regulations, or notifications issued by MCA. For the purpose of "de minimis" exemption, transactions where the target enterprise either holds assets of less than ₹350 Crore in India or generates turnover of less than ₹1,000 Crore in India are exempt from the mandatory pre-notification requirement. Following March 2017 notification, in the case of transfer of a portion of an enterprise, division or business, the de minimis exemption is limited to only the value of the assets and turnover of such a portion of enterprise, division or business. However, prior to the March 2017 notification, the value of the assets and turnover of the entire target enterprise were to be taken into consideration for applying the de minimis exemption. Thus subsequent to the 2017 notification, the asset value and turnover provided in the De Minimis exemption apply to the 'enterprise' whose control, shares, voting rights or assets are being acquired; and not to the value of the target assets/division/business being acquired.