08 Apr 2026 | 5 Mins Read
CCI to review 'affiliate test' for independent M&A directors
Flipitmoney
The Competition Commission of India (CCI) expanded the affiliate test in September 2024, allowing entities to qualify as affiliates through "commercially sensitive information" (CSI) access. This raises concerns for independent directors, whose board materials and minutes are CSI, but are prohibited from using it for competitive advantage, unlike nominee directors or shareholders.