Page 7 - Competition Commission Of India

Ex-ante norms have taken into account India's startup ecosystem: CCI chief

The draft Digital Competition Bill has proposed ex-ante (preventative) regulations requiring digital companies to notify the CCI that they fulfil the criteria to qualify as SSDEs

Samsung challenges CCI search and seizure, seeks to halt anti-trust probe

Tech giant Samsung has challenged the legality of a 2022 CCI search and seizure, claiming the cloning of its employees' phones and data was illegal

Abu Dhabi's ADNOC gets CCI clearance to acquire Covestro for $16.4 bn

Fair trade regulator CCI on Tuesday said it has approved Abu Dhabi National Oil Company's (ADNOC) proposal to acquire Covestro for USD 16.4 billion. Abu Dhabi's state-owned oil firm ADNOC is an energy and petrochemicals group. "The proposed transaction relates to the acquisition of up to 100 per cent of the share capital of Covestro AG by ADNOC PJSC, ADNOC International Ltd and ADNOC International Germany Holding AG (ADNOC Germany) by way of an all-cash voluntary public takeover offer to all Covestro shareholders. "Upon closing of the public takeover, ADNOC Germany will additionally subscribe to 1.89 crore new shares in Covestro, corresponding to 10 per cent of Covestro's current share capital, by means of a capital increase against cash consideration with the exclusion of subscription rights of any remaining minority shareholders of Covestro," the Competition Commission of India (CCI) said in a release. The company runs its India operations through Covestro (India) Pvt Ltd. Coves

Why antitrust body CCI has moved Supreme Court against Amazon, Flipkart

The CCI has moved the Supreme Court to expedite the resolution of 24 court cases pending against Amazon and Flipkart, asserting that they were intended to derail its probe

CCI approves deal involving GMR Infra Enterprises, Abu Dhabi-based trust

The Competition Commission of India (CCI) on Tuesday approved a proposed transaction involving GMR Infra Enterprises Pvt Ltd and a trust of the Abu Dhabi Investment Authority. The proposed combination involves subscription to unlisted and unrated optionally convertible debentures of GMR Infra Enterprises by Platinum Stone A 2014 Trust (acting through its trustee Platinum Rock B 2014 RSC Ltd), according to a release. The Abu Dhabi Investment Authority is the sole beneficiary of Platinumb Stone. GMR Infra Enterprises Pvt Ltd will acquire a cumulative of approximately 9 per cent stake on a fully diluted basis of GMR Airports Ltd (GAL) from its promoter -- GMR Enterprises Pvt Ltd (GEPL). The shareholding of GAL held by GMR Infra Enterprises will be pledged in favour of the trust with a view to secure the debenture subscription amount, the release said. The Competition Commission of India (CCI) has given its nod for the deal. In October, GMR Group said it has secured Rs 6,300 crore de

Mumbai court slaps contempt notice on Google CEO Sundar Pichai; here's why

In its defence, YouTube cited immunity under the Information Technology Act, arguing that defamation does not qualify as content that can be blocked under Section 69-A of the Act

CII body calls for expansion of PLI for medical devices to more products

CII's medtech group to ask govt for strict policy on import of refurbished devices, incentives in R&D, and enhanced rebate on export duties

CCI orders probe against Google on complaint by gaming company Winzo

In its order, the CCI found Google to be prima facie in violation of antitrust provisions of the Competition Act due to the abuse of dominant position

Alphabet arm gets CCI's clearance to acquire stake in Walmart's Flipkart

The Competition Commission on Tuesday granted approval to Alphabet's arm Shoreline International Holdings LLC to acquire a stake in Walmart group firm Flipkart. Shoreline International Holding is a wholly-owned subsidiary of Google's parent firm Alphabet Inc. It is a holding company and does not own or operate any Google products or services. "The proposed transaction comprises an investment through subscription of shares of Flipkart Pvt Ltd (Target) by Shoreline International Holdings LLC (Acquirer) and an arrangement between an affiliate of the acquirer and the target's subsidiary for the provision of certain services," the regulator said in a release. "Commission approves transaction involving subscription of shares of Flipkart Pvt Ltd by Shoreline, an Alphabet, Inc subsidiary," the regulator said in a post on X. Flipkart is a subsidiary of Walmart Inc and ultimately belongs to the Walmart Group. It is primarily engaged in the business of wholesale cash and carry of goods and ..

Temasek Holdings gets CCI nod to acquire stake in foodtech firm Rebel Foods

Temasek Holdings, through its arm Jongsong Investments Pte, is acquiring a stake in Rebel Foods -- which owns Faasos, Behrouz Biryani, Oven Story and other cloud kitchens

CCI rejects global major Apple's request to put antitrust report on hold

Apple asked the CCI "to take action against TWFS for non-compliance with its order" and "to withhold the revised" report, the CCI order, dated Nov. 13, seen by Reuters showed

CCI unlikely to act on media reports regarding Adani bribery issue

Billionaire Gautam Adani has been charged by US prosecutors for allegedly being part of a scheme to pay over $250 million bribe to Indian officials

Meta to appeal against CCI's Rs 213 crore penalty, diktat on data share

On Monday, CCI imposed a penalty of Rs 213.14 crore on Meta for abusing its dominant position

WhatsApp-CCI fracas explained: Why Meta is appealing against a $25.4m fine

The Competition Commission of India has accused Meta-owned WhatsApp of abusing its dominant market position in its 2021 privacy update. Here's all you need to know

CCI bars WhatsApp from sharing data with Meta firms, slaps Rs 213 cr fine

Second instance of big tech penalised for abusing dominant position

Zomato, Swiggy deny CCI antitrust violations, say media report 'misleading'

Deepinder Goyal-led Zomato clarified to the BSE that although the CCI initiated a preliminary investigation in April 2022, no findings or orders have been issued against the food delivery platform

CCI proposes changes to penalty recovery rules, seeks feedback by Dec 6

The Competition Commission of India (CCI) on Thursday proposed amendments to improve the efficiency and structure of its penalty recovery process. Inviting comments by December 6, the CCI said the proposed changes target procedural clarity and effectiveness in recovering penalties levied for violations of the Competition Act, 2002. "Based on the experience gained during implementation of these regulations over the years and to streamline the process of recovery, certain amendments are deemed fit to be incorporated in the said regulations. "Accordingly, such amendments are being proposed to the Competition Commission of India (Manner of Recovery of Monetary Penalty) Regulations, 2011," CCI said in a release. The amendments are proposed after challenges encountered in implementing these rules over the years and aim to improve regulatory compliance and efficiency. The key aspects of the draft amendments, including procedures for issuing demand notices and recovery certificates, ...

CCI recalls Flipkart antitrust probe report after Xiaomi complaint

China's Xiaomi had complained to the Competition Commission of India (CCI) that the report - which found Flipkart, some of its sellers, and smartphone players in violation of competition laws

KKR arm, Singtel gets CCI's approval to acquire stake in STT GDC

The Competition Commission of India (CCI) on Tuesday cleared KKR-affiliate Ruby Asia Holdings II and Singtel's proposal to acquire a stake in STT GDC. ST Telemedia Global Data Centres (STT GDC) is a wholly-owned subsidiary of Singapore Technologies Telemedia. STT GDC through its indirect subsidiary STT Global Data Centres India Pvt Ltd (STT GDC India) provides critical services, including high-quality colocation, connectivity, and round-the-clock support services. Global investment firm KKR through its arm Ruby Asia Holdings II is acquiring a stake in the company. "Commission approves acquisition of shares of STT GDC Pte Ltd by Ruby Asia Holdings II Pte Ltd and Singtel Interactive Pte Ltd subject to compliance of certain voluntary commitments submitted by the parties," CCI said in a release. Singtel Interactive Pte (Singtel) is a wholly-owned subsidiary of Singtel Telecommunications Ltd. The Singtel Group is an Asian communications technology group, operating connectivity, digita

Fortis Healthcare gets CCI nod to acquire stake in Agilus Diagnostics

The competition watchdog CCI on Tuesday approved Fortis Healthcare's proposal to acquire an additional 31.52 per cent stake in Agilus Diagnostics. Multi-speciality hospital chain Fortis Healthcare Ltd (FHL) is engaged in providing integrated healthcare delivery services like medicare, healthcare and diagnostics. The diagnostics services business of FHL is being undertaken primarily through Agilus. "Commission approves the acquisition of additional 31.52 per cent share capital of Agilus Diagnostics Ltd by Fortis Healthcare Ltd," according to a post by CCI on X. After the transaction, the shareholding of Fortis Healthcare Ltd (FHL) in Agilus will increase from 57.68 per cent to 89.2 per cent. In August, Fortis Healthcare announced that it will acquire a 31 per cent stake in Agilus Diagnostics for Rs 1,780 crore valuing Agilus at Rs 5,700 crore. The Competition Commission of India (CCI) has also cleared the proposed merger of Diliigent Power into DB Power, and the reorganisation of