This research paper investigates the regulatory framework governing mergers and acquisitions (M&A) in India and its impact on the recent acquisition deal between PayU and BillDesk. Through a comprehensive analysis of relevant laws, including the Companies Act, the Competition Act, and the Foreign Exchange Management Act, the study examines the regulatory challenges and opportunities encountered during the M&A process. Additionally, the research explores the implications of regulatory compliance on market competition, consumer protection, and investor confidence in the Indian financial sector. The case study of the PayU-BillDesk acquisition provides insights into the practical application of regulatory requirements and the role of regulatory authorities in facilitating or hindering M&A activities. By adopting a qualitative approach and utilizing primary and secondary data sources, including interviews with key stakeholders and analysis of government reports and academic literature, the paper aims to contribute to a nuanced understanding of the regulatory landscape surrounding M&A transactions in India. The findings of this study offer recommendations for policymakers, regulators, and industry stakeholders to streamline the M&A process and promote sustainable growth in the Indian financial landscape, while also stimulating further academic inquiry into the role of regulation in shaping corporate strategies and market dynamics in emerging economies.