India Investing

Legal Risks

India Investing

1. FDI / FEMA Structuring 2. Beneficial Ownership and Control Risk 3. Tax Treaty, GAAR, and Substance Risk 4. Sectoral Licensing and Approval Risk 5. Promoter Governance and Post-Close Leakage Risk 6. Anti-Bribery, Sanctions, and Government-Touchpoint Risk 7. Data Protection, AI, and Cyber Risk 8. Competition and Gun-Jumping Risk 9. Land, Title, and Environmental Risk 10. Exit and Enforcement Risk 11. Investment Treaty Protection Gap
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Competition and Gun-Jumping Risk

Domestic: High Foreign: High

India's merger control regime has undergone its most significant overhaul in two decades — and the Competition Commission of India (CCI) is applying its expanded powers.

Minority deals can trigger issues through affirmative voting rights, board representation, strategic information rights, budget vetoes, and exclusivity arrangements.

For PE, warehousing and interconnected-step analysis is now particularly sensitive under the CCI's revised framework.

The most overlooked risk — pre-closing conduct as gun-jumping evidence

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    Pre-closing conduct that the CCI treats as gun-jumping evidence includes: sharing customer lists, pricing data, or pipeline information before clearance; joint go-to-market planning or integration workshops; and HR mapping or organisational design exercises. The practical challenge: many of these activities feel like normal deal execution — but in India, they can attract penalties and unwinding orders.

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