M&A IN INDIA: A CRITICAL ANALYSIS OF THE REGULATORY AND LEGAL FRAMEWORK

Mergers and acquisitions (M&A) have become an important part of corporate growth in India. They allow companies to enter new markets, enhance technology, increase the customer base, restructure businesses and, in some cases, survive both financial or competitive pressure. At the same time, an M&A transaction is not governed by a single law. The legal boundary in India is spread across company law, competition law, securities regulation, foreign exchange law and sector-specific rules. This paper examines these frameworks from the perspective of the Companies Act, 2013, the Competition Act, 2002, FEMA, SEBI regulations and cross-border merger rules. It considers the practical problems created by overlapping approvals, valuation, protection of minority shareholders and regulatory coordination. The paper argues that India's M&A framework is strong but institutionally dispersed. The introduction of the deal value threshold under competition law has also widened the scrutiny of high-value transactions, particularly in transactions where traditional asset and turnover thresholds may not capture the competitive importance of the target. The paper concludes that the next stage of reform should focus not only on faster approvals but also on clearer coordination, predictable timelines and stronger protection of stakeholders.