WebinarsNew
Deep DiveNew
Explore Business Standard
CCI
The Competition Commission of India (CCI) on Tuesday cleared global engineering services provider Cyient's proposed acquisition of TAO Digital Solutions Inc. The approval came after Hyderabad-based Cyient Ltd, in May this year, announced that it had entered into a definitive agreement to acquire TAO Digital Solutions Inc, an AI-native data and product engineering solutions firm. "The proposed combination envisages the acquisition of 100 per cent of the share capital from the existing shareholders of TAO Digital Solutions Inc (target), by Cyient Ltd (acquirer)," the regulator said in a release. "CCI approves the acquisition of 100 per cent of the share capital of Tao Digital Solutions Inc by Cyient Limited," the regulator said in a post on X. Cyient Ltd is engaged in providing engineering and technology services specialising in aerospace and defence, automotive, rail transportation, healthcare and life sciences, semiconductors, energy, utilities, communications, and spatial ...
Fair trade regulator CCI on Tuesday cleared the proposal of Prudential Corporation Holdings, an arm of UK-based financial giant Prudential plc, to acquire a stake in Bharti Life Insurance Company Ltd. "The proposed combination envisages the acquisition of certain equity shareholding in Bharti Life Insurance Company Ltd (Target) by Prudential Corporation Holdings Ltd (Acquirer)," the Competition Commission of India (CCI) said in a release. Prudential Corporation Holdings acts as the holding company of the acquirer Group's insurance and asset management operations in Asia and provides management and support to its Asia and Africa business operations, while Bharti Life Insurance is an IRDAI-licensed insurer. "CCI approves acquisition of certain equity shareholding in Bharti Life Insurance Company Limited by Prudential Corporation Holdings Limited," the regulator said in a post on X. In May this year, UK-based Prudential plc announced that it would acquire a majority 75 per cent stake
The government has invited applications for filling posts for members at the Competition Commission of India (CCI). The appointments will be for five years from the date of joining or till the age of 65 years, whichever is earlier, according to a notice by the Ministry of Corporate Affairs. The members will receive a consolidated monthly salary of Rs 5 lakh and will not be entitled to a house or car, according to a notice. Eligible candidates can apply until September 28. Applicants should have at least 15 years of professional experience and special knowledge in areas, including international trade, economics, commerce, law, finance, accountancy, management, industry, technology, public affairs or competition matters, including competition law and policy. The Ministry of Corporate Affairs, in its notice, said, "A person of ability, integrity and standing... who in the opinion of the Central Government, may be useful to the Commission is eligible for appointment as a CCI member. T
The Supreme Court on Friday upheld an NCLAT order that set aside a Rs 301.6 crore penalty imposed on Grasim Industries by the Competition Commission of India and directed the fair trade regulator to hear the Aditya Birla Group firm again over its alleged dominance in the viscose staple fibre market. A bench comprising Justices J B Pardiwala and K Vinod Chandran dismissed the Competition Commission of India's (CCI) appeal challenging the May 5 NCLAT order. The tribunal had observed that the CCI did not provide a chance to Grasim Industries to present its arguments after it differed from the findings of the Director General (DG), the regulator's probe unit. The CCI had imposed the penalty on Grasim Industries in March 2020 for allegedly abusing its dominant position with respect to the supply of viscose staple fibre (VSF) to spinners in India. Grasim challenged the order before the NCLAT, which is also an appellate authority over the CCI, which asked the regulator to hear the matter
Competition Commission is avoiding taking up suo motu cases unless nobody is willing to come forward, as there is a conflict of interest in terms of establishing and also adjudicating such cases, the regulator informed a Parliamentary panel. The watchdog has the mandate to curb unfair business practices, as well as foster fair competition, across sectors. The Committee on Subordinate Legislation of the Rajya Sabha that examined various regulations and guidelines of the Competition Commission of India (CCI) flagged the issue of decline in suo motu cases. During the committee's meeting on May 19, CCI Chairperson Ravneet Kaur told the panel members that suo motu cases were more frequent during the initial years due to limited public awareness regarding competition law. "But the Commission felt that there is somewhat of a conflict in that they are establishing a case against a party and also adjudicating it. "Therefore, they have now avoided taking up a matter suo moto unless nobody e
Fair trade watchdog CCI should vigorously enforce the determination of penalty guidelines to curb the risk of repeated competition law violations being internalised as a "mere cost of doing business", according to a Parliamentary panel. These guidelines provide for repeated competition law contraventions as an aggravating factor while imposing penalties to ensure that such offences do not happen in the future, the Committee on Subordinate Legislation of the Rajya Sabha said. The recommendation is part of the report tabled this week in Parliament by the committee chaired by Milind Murli Deora on the Competition Commission of India (CCI). In the report, the committee said vigorous antitrust enforcement is indispensable to ensure that the least advantaged are not further disadvantaged by unfair or anti-competitive conduct. "Small businesses, MSMEs, startups etc should be able to depend upon a steady and vigorous enforcement of the competitive laws to safeguard their ability to ...
