(1) The Commission may, upon its own knowledge or information relating to acquisition referred to in clause (a) of section 5, acquiring of control referred to in clause (b) of that section or any merger or amalgamation referred to in clause (c) of that section, inquire whether such a combination has caused or is likely to cause an appreciable adverse effect on competition in India.

(2) The Commission may, for the purpose of sub-section (1), inquire whether a combination has, or is likely to have, an appreciable adverse effect on competition in India, having regard to the following factors, namely:—

1. actual and potential level of competition through imports in the market;
2. extent of barriers to entry into the market;
3. level of combination in the market;
4. degree of countervailing power in the market;
5. likelihood that the combination would result in the parties to the combination being able to significantly and sustainably increase prices or profit margins;
6. extent of effective competition likely to sustain in a market;
7. extent to which substitutes are available or are likely to be available in the market;
8. market share, in the relevant market, of the persons or enterprise in a combination, individually and as a combination;
9. likelihood that the combination would result in the removal of a vigorous and effective competitor or competitors in the market;
10. nature and extent of vertical integration in the market;
11. possibility of a failing business;
12. nature and extent of innovation;
13. relative advantage, by way of the contribution to the economic development, by any combination having or likely to have appreciable adverse effect on competition;
14. whether the benefits of the combination outweigh the adverse impact of the combination, if any.