What is the procedure for regulation of combination by Competition Commission of India? Which institutions are exempt from giving a notice to the Commission regarding the proposed combination?

Section 6 of the Competition Act, 2002 prohibits any person or enterprise 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 if such a combination is formed, it shall be void. Any person or enterprise, who or which proposes to enter into a combination, shall give notice to the Commission. No combination shall come into effect until 210 days have passed from the day on which the notice has been given to the Commission or the Commission has passed orders, whichever is earlier. Exemptions The provisions of section 6 shall not apply to share subscription or financing facility or any acquisition, by a public financial institution, foreign institutional investor, bank or venture capital fund, pursuant to any covenant of a loan agreement or investment agreement. The public financial institution, foreign institutional investor, bank or venture capital fund shall, within seven days from the date of the acquisition, file, in the form as may be specified by regulations, with the Commission the details of the acquisition including the details of control, the circumstances for exercise of such control and the consequences of default arising out of such loan agreement or investment agreement, as the case may be.