law: The Competition Act, 2002 
  6. Regulation of
  
  combinations.-
  1.  
  
    No
  
  person or enterprise shall enter 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.
  2.  
  
    Subject
  
  to the provisions contained in sub-section (1), any person or enterprise, who
  
  or which proposes to enter into a combination, may, at his or its option, give
  
  notice to the Commission, in the form as may be specified, and the fee which
  
  may be determined, by regulations, disclosing the details of the proposed
  
  combination, within seven days of- 
  a.   approval of the
  
  proposal relating to merger or amalgamation, referred to in clause (c) of
  
  section 5, by the board of directors of the enterprises concerned with such
  
  merger or amalgamation, as the case may be;
  b.   execution of any
  
  agreement or other document for acquisition referred to in clause (a) of
  
  section 5 or acquiring of control referred to in clause (b) of that section.
  1.  
  
  
  2.  
  
  
  3.  
  
    The
  
  Commission shall, after receipt of notice under sub-section (2), deal with such
  
  notice in accordance with the provisions contained in sections 29, 30 and 31.
  4.  
  
    The
  
  provisions of this section 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.
  5.  
  
    The
  
  public financial institution, foreign institutional investor, bank or venture
  
  capital fund, referred to in sub-section (4), 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.
  Explanation.- For the
  
  purposes of this section, the expression- 
  a.  
  
    "foreign
  
  institutional investor" has the same meaning as assigned to it in clause
  
  (a) of the Explanation to section 115AD of the Income-tax Act, 1961 (43 of
  
  1961); (b) "venture capital fund" has the same meaning as assigned to
  
  it in clause (b) of the Explanation to clause (23FB) of section 10 of the
  
  Income-tax Act, 1961 (43 of 1961).