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Appellate tribunal NCLAT has said the fair trade regulator Competition Commission of India has no power to examine into the disputes related to patent matters. Dismissing an appeal against a CCI order, in which the regulator had closed a complaint against Swiss pharma major Vifor International (AG), a two-member NCLAT bench said the 'Patent Act will prevail over the Competition Act'. Citing the earlier judgments, NCLAT said: "Considering the judgment of the Delhi High Court in the case of Telefonaktiebolaget LM Ericsson (PUBL) and the Supreme Court in the SLP No. 25026/2023, it is apparent that the CCI lacks the power to examine the allegations made against Vifor International (AG)." NCLAT, which is an appellate authority over the orders passed by CCI, said Vifor International had the patent for Ferric Carboxymaltose (FCM) injection, which is required for the treatment of Iron Deficiency Anaemia (IDA). "The Patent Act will prevail over the Competition Act in the facts of this case,
Fair trade regulator CCI on Tuesday approved Saudi Arabia's sovereign wealth fund PIF's proposal to acquire a majority stake in Olam Agri Holdings Ltd. Public Investment Fund (PIF), through its investment arm SALIC, is acquiring a stake in Olam Agri Holdings Ltd. PIF has assets under management of more than USD 925 billion. "The proposed combination involves the acquisition of SALIC's proposed indirect acquisition of 44.58 per cent and up to 64.57 per cent of the issued share capital of Olam Agri," the Competition Commission of India (CCI) said in a release. Saudi Agricultural and Livestock Investment Company (SALIC) is focused on farming and procurement, as well as importing commodities into the Kingdom of Saudi Arabia. It is present in India through LT Foods Ltd, wherein the investment arm owned a 9.22 per cent stake in the FMCG firm, which owns the 'Daawat' brand of basmati rice. "Commission approves the Saudi Agricultural and Livestock Investment Company's proposed indirect ..
Fair trade regulator CCI has dismissed a complaint alleging abuse of dominance and anti-competitive practices by Emaar India Ltd and others in connection with its "Marbella" villa project in Gurugram. "The Commission finds that no prima facie case of contravention of the provisions of Sections 3 and 4 of the Act is made out against the opposite parties in the instant matter," according to an order passed by the Competition Commission of India (CCI). Section 3 and 4 pertain to anti-competitive agreements and abuse of dominant position, respectively. The case was based on a complaint filed by an informant who alleged that Emaar India Ltd, its group firm Emaar India Community Management, and several government departments including the Department of Town and Country Planning, Haryana, and the Union of India through DPIIT have violated the Sections 3 and 4 of the Competition Act. The complainant alleged that Emaar misused its dominant position by permitting construction of builder floo