Page 14 - Cci

Competition Commission of India lens on Big Tech as Apple probe nears end

The new Chairperson, Ravneet Kaur, along with other members, is expected to take up the matter in their meeting soon, along with several other pending cases against Big Tech companies

14 years of Competition Commission: Young regulator faces new challenges

It has to scale up its oversight of the digital economy and attune with new digital legislations, writes Dhanendra Kumar

CCI gives nod to proposed merger of Credit Suisse Group with UBS Group

Fair-trade regulator Competition Commission of India (CCI) on Thursday cleared the proposed merger of Credit Suisse Group AG with UBS Group AG. Both Credit Suisse Group AG (Credit Suisse) and UBS Group AG (UBS) are multinational investment banks and financial services companies founded and based in Switzerland. The transaction entails UBS' proposed acquisition of Credit Suisse by way of an absorption merger with UBS being the surviving legal entity, according to CCI. Post transaction, all Credit Suisse's assets, liabilities, and contracts will be transferred to UBS in their entirety. The proposed transaction has been necessitated due to Credit Suisse's financial difficulties, CCI said. Deals beyond a certain threshold require approval from the regulator, which keeps a tab on unfair business practices in the marketplace.

Govt clears MoU signing between competition regulators of India, Egypt

The Union Cabinet on Wednesday approved signing of a pact between the Competition Commission of India (CCI) and the Egyptian Competition Authority (ECA). The Memorandum of Understanding (MoU) between the two regulators is aimed at promoting and strengthening of co-operation in competition law and policy through exchange of information, sharing of best practices as well as through various capacity building initiatives, an official release said. According to the release, the MoU also aims to develop and strengthen linkages between CCI and ECA as well as learn and emulate from each other's experiences in the enforcement of competition law. Ultimately, the resultant outcomes will benefit consumers at large and promote equity and inclusiveness, it added.

IAS officer with varied experience: Ravneet Kaur, first woman chief of CCI

The government has appointed Ravneet Kaur as the Chairperson of the Competition Commission of India (CCI), according to an official order. There has been no full-time Chairperson for the competition regulator since Ashok Kumar Gupta demitted office in October 2022. CCI Member Sangeeta Verma has been acting as the Chairperson since October last year. The appointment of Ravneet Kaur, a 1988 Punjab cadre IAS officer, will be for a period of five years from the date of assuming charge or till the date of attaining the age of 65 years or until further orders, whichever is the earliest, as per the order dated May 15. The Chairperson will get a consolidated salary of Rs 4,50,000 per month without house and car, it added.

Top headlines: CCI inquiry on Google, Karnataka elections results and more

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CCI asks Google to share policies on data sharing, in-app billing

Move based on complaints that tech giant failed to comply with directive on third-party billing

Competition Commission gives nod to Edelweiss-Biocon Biologics deal

Fair-trade regulator CCI on Tuesday said it has cleared Edelweiss Alternative Asset Advisors and ESOF III Investment Fund's subscription to certain compulsorily convertible debentures of Biocon Biologics Ltd. The deal has been cleared under the green channel route. Edelweiss Alternative Asset Advisors is a Sebi-registered alternative asset advisor, while ESOF III Investment Fund is a Sebi-registered Alternative Investment Fund (AIF). The proposed combination relates to Edelweiss Alternative Asset Advisors and ESOF III Investment Fund's proposal to subscribe to certain compulsorily convertible debentures issued by Biocon Biologics Ltd (BBL), according to CCI. BBL is a global biosimilar firm, engaged in the manufacturing and commercialisation of pharmaceutical formulations. The Competition Commission of India (CCI) said it has approved the proposed deal. "The parties' activities do not exhibit any horizontal, vertical, or complementary overlaps in any of the plausible relevant ...

Supreme Court stays Rs 202 crore penalty on Amazon slapped by CCI

The penalties were imposed in two parts in accordance with separate sections of the law. Rs 200 crore and Rs 2 crore were thus imposed on Amazon

Fair-trade regulator CCI approves for acquisition of Tower Vision India

Fair-trade regulator CCI on Wednesday granted approval for the acquisition of 100 per cent shareholding of Tower Vision India by Ascend Telecom Infrastructure and GIP EM Ascend 2 Pte Ltd. Ascend Telecom Infrastructure and GIP EM Ascend 2 Pte Ltd are funds and investment vehicles owned and controlled by Global Infrastructure Management LLC. The proposed combination pertains to acquisition by Ascend Telecom Infrastructure Pvt Ltd (Ascend) and GIP EM Ascend 2 Pte Ltd (GIP EM) of 100 per cent of the shareholding of Tower Vision India Pvt Ltd, according to an official release. Tower Vision India is controlled by Tower Vision Mauritius Ltd and is engaged in the provision of passive telecommunication infrastructure services. Separately, the regulator has given its nod to the acquisition by Sanjay Chamria of certain equity shares of Jaguar Advisory Services held by Poonawalla Fincorp Ltd and HDI Global SE. After acquiring the shares of Jaguar, it will result in an indirect acquisition by

NCLAT sets aside CCI penalty on ITC for not furnishing info on Savlon deal

The National Company Law Appellate Tribunal (NCLAT) has set aside the penalty imposed on multi-conglomerate ITC by fair trade regulator CCI for not notifying for the acquisition of brands 'Savlon' and 'Shower to Shower' in 2017. ITC had 2017 acquired the antiseptic brand Savlon and the personal care product brand Shower To Shower from Johnson & Johnson Private. The Competition Commission of India (CCI) had on December 11, 2017, imposed a fine of Rs 5 lakh on ITC for alleged failure to give notice under sub-section 2 of Section 6 of the Competition Act. The section mandates the enterprise, which proposes to enter into a combination, to give notice to the CCI disclosing the details of the proposed combination, within 30 days. However, the CCI's order was challenged by ITC before the NCLAT, which is an appellate authority contending that the value of the deal was Rs 68.37 crore, hence, as per the rules and regulations, there was no need for any such notification. They were exempted .

Google pays Rs 1,338 cr penalty to CCI in Android case, ADIF still cautious

The Indian market regulator had imposed the penalty on Google in October 2022 for allegedly exploiting its dominant position in the Android market

Google pays entire Rs 1,338 crore penalty to CCI in Android case

Google has paid the entire penalty amount of Rs 1,337.76 crore imposed by the Competition Commission of India (CCI) in the Android case

Auto ancillary Minda Corp approaches CCI to increase Pricol stake to 24.5%

Auto component maker Minda Corporation on Tuesday said its board has decided to approach the Competition Commission of India (CCI) to increase its stake in automotive technology firm Pricol to upto 24.5 per cent. On February 17, 2023, Minda Corporation had acquired a 15.7 per cent stake in Pricol by purchasing over 1.91 crore shares of the latter from the open market. "We would like to update that the Board of Directors in its meeting held on May 1, decided to file an application to CCI for making investment in equity shares of Pricol Ltd upto 24.5 per cent of total equity shares of Pricol, at this stage," Minda Corporation said in a regulatory filing. After buying the stake in February, Minda had maintained that it was a mere financial investment. On the other hand, the promoter family of Pricol, led by its Chairman Vanitha Mohan and Managing Director Vikram Mohan, who hold 36.53 per cent in the company had stated that they had no intention to sell their holdings. Pricol and Mind

Keeping an eye on digital space: CCI chairperson Sangeeta Verma

In August 2019, the commission introduced a 'green channel' route of approval for transactions

CCI has an assertive agenda against cartels: Chief Sangeeta Verma

The Competition Commission of India (CCI), which replaced MRTP to usher in competitive and fair business practices in the country, has an assertive agenda against cartels, its chairperson Sangeeta Verma said on Friday. She said that cartels are bad and a cartelised market does not allow honest business. "The CCI has an assertive agenda against cartels. Cartels are bad for business and do not allow conduct of honest trade", Verma said at an event organised by MCCI here. Verma said the competition law will continue to create necessary safeguards and its enforcement may be supplemented by a suitable legislative framework. According to her, the CCI so far has received 1200 cases regarding abuse of dominance across sectors like airlines, infrastructure, automobiles, real estate and digital space. The commission had already imposed a penalty on Google for allegedly abusing its dominant position in the Android ecosystem. Verma said that the CCI is closely watching the digital space, add

India's anti-trust law raises penalty, seeks deposit before appeal

India's income tax law too requires a deposit of 20% before appeal

Delhi HC issues notice in Google's appeal against single judge order

The bench considered the submissions made by the senior counsels that the members who presently comprise the CCI are disqualified for any reason

HC seeks stand of start ups' body on Google's challenge to CCI probe

The Delhi High Court on Wednesday sought the stand of the Competition Commission of India and Alliance of Digital India Foundation (ADIF) on Google's challenge to an order asking the regulator to look into the tech giant's policy of allowing use of third-party payment processors for paid app downloads and in-app purchases on a commission basis. A bench of Chief Justice Satish Chandra Sharma and Justice Subramonium Prasad issued notice on Google's appeal against the single judge's order, which asked the Commission to consider the plea of ADIF, an alliance of individuals and an industry representative body of innovative start-ups in the country, against the new billing system on or before April 26. Senior advocate Sajan Poovayya, appearing for the appellant entity, said he was "not asking for an interim order" at this stage. "Issue notice," said the bench. On Tuesday, the court had refused to grant urgent hearing to Google on the appeal on the same day. Google had mentioned the appe

Billing policy: Google files appeal against single-judge order of Delhi HC

Group representing digital start-ups says tech giant's system charges high service fee, is contrary to CCI's orders