Page 10 - Cci

CCI selects Management Development Institute to conduct market study on AI

Fair trade watchdog CCI has selected the Management Development Institute Society (MDIS) to conduct a market study on artificial intelligence and competition that will examine various aspects, including potential competition issues in the AI ecosystems. In April this year, the Competition Commission of India (CCI) had issued a request for proposal to conduct the market study on Artificial Intelligence (AI) and Competition. The Gurugram-based MDIS has been engaged to conduct the study that will seek to understand certain key AI ecosystems, including stakeholders, resources, value chains, market structures and parameters of competition, CCI said in a release on Friday. It will also examine the emerging and potential competition issues in these markets/ecosystems as well as look at the scope and nature of AI applications/use cases, and assess associated opportunities, risks and ramifications from a competition standpoint. Among other aspects, the study will focus on the existing and .

CCI gives nod to Dixon Technologies to acquire stake in Aditya Infotech

Fair trade regulator CCI on Tuesday granted its approval to Dixon Technologies' proposal to acquire a stake in Aditya Infotech Ltd. Dixon Technologies (India) Ltd is involved in the business of providing Electronic Manufacturing Services (EMS). It provides EMS for lighting solutions, television, washing machines, security systems, wearables and hearables, among others. The regulator also cleared the acquisition of a stake in AIL Dixon Technologies by Aditya Infotech Ltd (AIL). "Commission approves the subscription of certain shares of Aditya Infotech Ltd (AIL) by Dixon Technologies (India) Ltd and the acquisition of certain shares of AIL Dixon Technologies Pvt Ltd by AIL," CCI said in a post on X. AIL Dixon Technologies is a joint venture (JV) company between AIL and Dixon Technologies India. It is engaged in manufacturing and assembling of ESS. During FY24, the JV recorded a revenue of Rs 632.62 crore. Aditya Infotech is engaged in the business of sourcing, distributing and marke

Digital firms with Rs 500 crore turnover must seek CCI approval for M&As

Any transaction where the "deal value" exceeds Rs 2,000 crore would be notifiable for the CCI's approval, provided that the target entity has "substantial business operations" in India

M&A deal value of over Rs 2,000 crore comes under Competition Act

The government aims to scrutinise mergers that might escape under the traditional "asset" or turnover-based thresholds

CCI gives nod to $8.5 bn Disney-Reliance media assets merger deal

CCI's nod comes with subject to "certain voluntary modifications"

Aiming to enhance efficiency, CCI proposes changes to recruitment rules

The Competition Commission of India has proposed changes to the recruitment rules, aiming to support the regulator's professional and administrative capacities in light of its growing obligations. These modifications are a vital step towards improving the CCI's effectiveness, given its enlarged mandate. The draft amendments pertain to the CCI (Salary, Allowances, Other Terms and Conditions of Service of the Secretary and Officers and Other Employees of the Commission and the number of such Officers and Other Employees) rules. These changes necessitate the recruitment of additional officers at the feeder level to ensure efficient and timely bound manner. In a consultation paper released by CCI, the regulator proposed "introduction of direct recruitment at level-10 and level-8 of the 7th Central Pay Commission (CPC) for professional and administrative stream officers, respectively". "For IT stream, it is proposed to have direct recruitment at Level-10 of 7th CPC", it added. The ...

CCI seeks Apple's reply on alleged violation of competition norms

Fair trade watchdog CCI has sought a reply from Apple on the investigation report which has found that the technology major allegedly violated competition norms with respect to its App Store, according to sources. The sources said the supplementary investigation report by the regulator's Director General (DG) has concluded that Apple allegedly abused its market dominance in the relevant market, violating various provisions of Section 4 of the competition law. In December 2021, Competition Commission of India (CCI) ordered a detailed probe against Apple after prima facie finding that the company abused its market dominance. The sources said the regulator was not satisfied with the initial report submitted by the DG and sought another probe on specific aspects. The supplementary investigation report was submitted to the CCI in June, they added. The watchdog has sent the non-confidential version of the report to Apple for its reply, the sources said and added that final hearings will

CCI sends antitrust queries to Reliance, Disney for $8.5 bn merger: Report

The CCI has also asked the companies details on which entity owns which sports rights and for how long, as well as information on who had bid for them previously

CCI antitrust probe finds Apple abused position in apps market: Report

The Indian investigation report comes as Apple faces increased antitrust scrutiny in other regions

Mitsubishi Corp gets CCI's approval to acquire stakes in two TVS group cos

The Competition Commission of India (CCI) on Tuesday said it has cleared Mitsubishi Corporation's proposed acquisition of stakes in TVS Certified and TVS Vehicle Mobility Solution. TVS Certified Pvt Ltd is engaged in the business of the sale of used vehicles by conducting auctions, mainly through offline channels in physical auction yards. "The proposed combination relates to Mitsubishi Corporation (Acquirer) acquiring an equity stake in TVS Certified Pvt Ltd (Target 1) and TVS Vehicle Mobility Solution Pvt Ltd (Target 2)," CCI said in a release. Mitsubishi Corporation is a global integrated business enterprise that develops and operates businesses in 90 countries. TVS Vehicle Mobility Solution is engaged in the business dealership and distribution of commercial vehicles, passenger vehicles and motor vehicle services and undertaking dealership and distribution of spare parts for vehicles for a specific manufacturer. In another release, CCI granted its clearance to BlackRock Fundi

CCI proposes amendments to general rules, seeks feedback from stakeholders

Fair trade regulator Competition Commission of India (CCI) has sought stakeholder comments on the proposed amendments to the CCI (General) Regulations, 2009, following recent changes to the Competition Act. The amendments came from the Competition (Amendment) Act, 2023, which introduced new provisions and updating the existing ones in the Competition Act, 2002. The CCI has proposed updates to align the general regulations with the latest framework. As part of the proposed changes, the competition watchdog has detailed a process for implementing and monitoring its orders under various sections of the Act. This includes the appointment of independent agencies to oversee the implementation of the orders. These agencies, which could include, accounting firms, management consultancies, or professional organisations, will ensure compliance and reporting to any non-implementation to the CCI. Further, it will also maintain the confidentiality and avoid conflicts of interest. Additionally

CCI draft regulations: Company commitments to be closely watched

The monitoring agencies may include an accounting firm, management consultancy, any other professional organisation or chartered accountants, company secretaries or cost accountants

Cintra receives CCI's approval to acquire 24% stake in IRB Infra Trust

The Competition Commission of India (CCI) on Tuesday said it has approved Cintra's proposed acquisition of 24 per cent unitholding in IRB Infrastructure Trust and MMK Toll Road Pvt Ltd. Cintra InvIT Investments BV (Cintra SPV 1) and Cintra IM Investments BV (Cintra SPV 2) collectively belong to the Netherlands-based Ferrovial group. "The proposed combination involves the acquisition of approximately 24 per cent of the issued and outstanding unitholding (on a fully-diluted basis) along with certain commercially negotiated rights in the Private InvIT (IRB Infra Trust) by Cintra SPV 1. "Simultaneous acquisition of approximately 24 per cent equity shareholding along with the right to nominate a director on the board of directors of the IM of the Private InvIT by Cintra SPV 2," CCI said in a release. Ferrovial group is a global developer of transport infrastructure, mobility solutions, engineering and is engaged in the construction of civil works and buildings. The sponsors of IRB ...

Shinhan Bank receives CCI approval to acquire 11% stake in HDFC Credila

The Competition Commission of India (CCI) has cleared South Korea-based Shinhan Bank's proposed acquisition of an 11 per cent stake in HDFC Credila Financial Services. Part of the Shinhan Financial Group, Shinhan Bank Co Ltd is a multinational bank, which commenced operations in India in 1996. "The proposed combination relates to the acquisition of up to approximately 11 per cent shareholding by Shinhan Bank in HDFC Credila by way of subscription to shares of HDFC Credila," CCI said in a release on Tuesday. HDFC Credila Financial Services, is a Reserve Bank of India (RBI)-registered non-deposit taking non-banking financial company. It is primarily engaged in the business of providing education loans in India and overseas. In another release, the competition watchdog granted its approval to Matrix Pharma to acquire 100 per cent stake in Tianish Laboratories. The acquisition will be funded in part by an investment proposed to be made by the investors in optionally convertible debent

CCI extends deadline of bidding for AI impact research to June 28

Fair trade regulator CCI has issued clarifications on the bidding for conducting the study on artificial intelligence and its impact on competition, and has extended the deadline for submission of bids till June 18. Earlier, the deadline for the bids was June 3. In a set of clarifications, the Competition Commission of India (CCI) said bids cannot be submitted through a consortium or a joint venture. Among other eligibility requirements, the minimum annual turnover of Rs 50 crore has been retained for the bidders. "The Request For Proposal (RFP) does not provide for submission of bids through a consortium or joint venture. Turnover of the group companies may, however, be included only to meet the eligibility criterion of Rs 50 crore," the regulator said in a communication dated May 24. The last date for submission of bids is June 18 and the financial bids will be opened on July 11. The study will cover various aspects, including the ways AI-driven personalised recommendations, ...

CCI in process of notifying merger control norms, says Ravneet Kaur

Kaur said that CCI is strengthening its international outreach to exchange best practices and enhance capabilities in a globalised economy

Raft of exemptions for government companies covers Sebi, MCA, CCI

The rules surrounding MPS requirements have differed for PSUs compared to their private sector counterparts

CCI checks if Pernod colluded with New Delhi retailers to boost mkt share

Competition Commission of India is reviewing the case and can order a full investigation, or dismiss the accusations if not borne out, said a source

CCI clears International Finance Corp's acquisition of debentures in Napino

Fair trade regulator CCI on Tuesday said it has approved the proposed subscription to compulsory convertible debentures of Napino Auto and Electronics Ltd by International Finance Corporation. International Finance Corporation (IFC) is a member of the World Bank Group. It helps developing countries achieve sustainable growth by financing private sector investment and providing advisory services to businesses and governments. The Competition Commission of India (CCI) has approved subscription to compulsory convertible debentures (CCDs) of Napino Auto and Electronics Limited (Napino) by International Finance Corporation, CCI said in a release. Napino is engaged in the business of automotive electronics and components in India. It manufactures electrical and electronic products primarily for two-wheelers and a small segment of three-wheeler and four-wheeler vehicles. Further, through its affiliates, Napino also provides certain Electronic manufacturing services (EMS)/ Original Design

CCI set to study impact of AI on competition, efficiency and innovation

"The transformative capabilities of AI have significant pro-competitive potential; at the same time, there may be competition concerns emanating from the use of AI," the CCI stated