The paper intends to review, summarize and discuss various institutional laws refer to mergers and acquisitions (M&A) in India, and thereby recommend fruitful policy guidelines for institutions and managers participating in foreign investment and acquisition deals.Further, we also show the market for value of foreign inbound and outbound deals representing India for the period 2004 through 2013. The major observations include, higher valuation inbound-deals had delayed or failed due to weak financial infrastructure, erratic nature of government officials and political intervention, and the newly elected government has aimed to attract higher inflow of investment from other developed and emerging markets by easing investment rules and offering tax holidays. The study eventually would help policy makers, M&A advisors, legal consultants and investment bankers in assorted issues, and private equity firms and multinational firms intending to invest in Indian business.