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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 regulator CCI on Tuesday approved US-based Alpha Wave Global's proposed stake purchase in Nxtra Data, the data centre and cloud services arm of Bharti Airtel. Alpha Wave Global is acquiring a stake through Alpha Wave Ventures II, LP, a private equity fund co-managed by the alternative asset manager. The Competition Commission of India (CCI) said it has cleared the proposed deal. "CCI approves acquisition of certain shareholding in Nxtra Data Limited by Alpha Wave Ventures II, LP," the competition watchdog said in a post on X. In March this year, Bharti Airtel announced that its subsidiary Nxtra Data has secured USD 1 billion investment led by Alpha Wave Global, Carlyle and Anchorage Capital. Bharti Airtel, which will also participate in the investment round, will continue to retain a controlling stake in Nxtra. As part of the acquisition deal, Alpha Wave Global will invest USD 435 million, with the rest to be infused by Carlyle, Anchorage Capital and Airtel. After the