Cci

Prudential gets CCI nod to acquire 75% stake in Bharti Life Insurance

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

Govt to fill two member posts in CCI; invites applications till Sept 28

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

SC refuses to revive CCI's ₹301 cr penalty on Grasim, orders rehearing

The top court upheld the NCLAT ruling setting aside the Competition Commission's order, directing the regulator to reconsider the matter after granting Grasim a fresh hearing

SC upholds NCLAT order setting aside ₹301 cr penalty on Grasim Industries

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

Publicis challenges CCI probe over brand name, legal entity dispute

Publicis says the CCI should amend its investigation papers to name its Indian unit, TLG India, rather than "Publicis Groupe"

Avoiding suo motu cases unless no one comes forward: CCI to House panel

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

CCI must enforce penalty rules for competition law violations: House panel

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 ...

Tighten norms on repeat violations, protect MSMEs: House panel to CCI

A parliamentary panel has urged the CCI to periodically review its regulations, improve transparency in penalty calculations and strengthen safeguards for MSMEs and startups

CCI dismisses plea against Jio, 4,500 firms over anti-competitive conduct

The plea accused over 4,500 companies, including Reliance Jio Infocomm, of anti-competitive practices, including market sharing and bid-rigging.

Writ petition in Delhi HC challenges validity of CCI's settlement framework

The petition alleges that the Competition Act settlement regime prevents consumers, informants and other affected parties from questioning CCI settlement orders

Restaurant association urges CCI to stop Zomato from imposing price parity

NRAI says platform shouldn't revive exclusivity clauses

CCI cracks down on HP: Why HP India faces ₹142 crore fine | Business news

The Competition Commission of India has fined HP India and several resellers ₹142.37 crore for alleged bid rigging and cartelisation in Government e-Marketplace (GeM) tenders.

CCI fines HP India and resellers in govt emarketplace cartel case

The Competition Commission of India has imposed Rs 142.37 crore in penalties on HP India and its resellers for bid rigging in GeM tenders while reaffirming that cartel orchestrators can seek leniency

CCI approves upGrad's acquisition of Unacademy after months of review

The competition watchdog clears the proposed combination between upGrad and Unacademy, allowing the companies to move towards closing the education-technology deal

CCI clears pharma firms, trade bodies in 14-year-old antitrust case

The antitrust watchdog rejected its Director General's findings, ruling there was no evidence of anti-competitive agreements involving stockist appointments or new drug launches

Apple accuses CCI of 'copy-pasting' rivals' claims in antitrust probe

The iPhone maker has asked India's competition watchdog to set aside an investigation report that found it engaged in abusive conduct, alleging investigators relied heavily on complaints from rivals

CCI clears Honda's proposal to acquire additional 21% stake in Astemo

CCI approves Honda's plan to raise its stake in Astemo to 61%, strengthening control over the auto components maker in a strategic consolidation move

Supreme Court ruling resets the role of India's economic regulators

In setting aside the CCI's order against Amazon, the Supreme Court has framed regulatory certainty, transparency and fairness as strategic assets for India's investment climate

CCI orders probe into Mrs India Inc for alleged anti-competitive practices

CCI has ordered a probe into Mrs India Inc over allegations that it imposed unfair, restrictive and exploitative contractual terms on pageant participants

CCI proposes increasing time limit under antitrust commitment mechanism

Competition watchdog seeks to address procedural issues in the commitment framework by extending filing timelines and clarifying application requirements