Introduction On 6 July 2026, the National Company Law Tribunal ('NCLT'), Ahmedabad Bench sanctioned the amalgamation of J.B. Chemicals & Pharmaceuticals Limited into Torrent Pharmaceuticals Limited. The scheme finally came into effect on the day of the winding up of J.B. Chemicals, which was two days later, and its brands, plants and distribution network became instantly part of Torrent, turning it into one of the largest branded pharmaceutical businesses in India. The NCLT o

Introduction In 2023, the Competition Commission of India (‘CCI’ or ‘the Commission’) found itself in an unprecedented situation . With only an Acting Chairperson and a Member, the Commission faced a backlog of pending merger approvals. This led to the invocation of the doctrine of necessity in order to examine and approve combination agreements, i.e, mergers and acquisitions. Normally, an M&A approval, being an administrative function, requires a quorum of three members, a