Page 14 - Cci

TMS Ep465: Air India-Vistara merger, Svamitva, markets, history of HDFC

Why is CCI questioning Air-India merger now? How is Svamitva providing property rights to villagers? Will the Sensex & Nifty sustain at record highs? A brief history HDFC-HDFC Bank merger

CCI issues a show-cause notice to Air India on Vistara merger plan

The CCI has given Air India 30 days to respond, the sources said. The airline, however, did not respond to queries sent by Business Standard on the matter

CCI approves acquisition of TCNS Clothing by Aditya Birla Fashion

The proposed combination involves acquisition of 51% of the expanded share capital of TCNS Clothing Co Limited by the Aditya Birla Fashion and Retail Limited

As Google moves SC against CCI order, here's how the events unfolded

Competition Commission of India imposed a monetary fine of Rs 1337.76 crore on the tech giant as well as a list of directives it must follow

CCI approves acquisition of stake by mortgage lender HDFC in 2 insurers

These approvals will help pave the way for the merger of HDFC into HDFC Bank, expected to be finalised by the third quarter of this financial year

CCI clears General Atlantic's additional 4.04% stake buy in Acko Tech

Competition Commission of India (CCI) on Wednesday cleared General Atlantic Singapore ACK's proposed acquisition of an additional 4.04 per cent stake in Acko Technology and Services. General Atlantic Singapore ACK Pte (GASACK) is an investment holding company held by funds or vehicles controlled by US-based private equity firm General Atlantic. The proposed combination envisages the acquisition of an additional 4.04 per cent shareholding of Acko Technology and Services Private Limited (Acko Tech) by General Atlantic Singapore ACK Pte. Ltd, according to an official release. "CCI approved the proposed combination subject to compliance of modifications jointly furnished by GASAK and GAP Bermuda, LP under regulation 19(2) of the Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Regulations, 2011," the release said. Acko Tech is engaged in the business of providing general (non-life) insurance through its subsidiary Acko Genera

Competition Commission of India approves deal involving Manipal Group

The Competition Commission of India (CCI) on Tuesday said it has cleared the proposed deal involving Manipal Health Enterprises Pvt Ltd and Manipal Education and Medical Group India Pvt Ltd (MEMG India). Manipal Health Enterprises Pvt Ltd (MHEPL) operates a chain of multi-speciality hospitals under the brand name 'Manipal Hospitals', while MEMG India is a wholly-owned subsidiary of RSP Trust India and belongs to the Pai family group. In a tweet on Tuesday, CCI said it has approved the "proposed combination involving Manipal Health Enterprises Private Limited and Manipal Education and Medical Group India Private Limited". The deals beyond a certain threshold require approval from the regulator, which keeps a tab on unfair business practices as well as promotes fair competition in the marketplace.

CCI approves minority stake acquisition in Lenskart by Dove Investments

Fair-trade regulator CCI has approved the minority stake acquisition in Lenskart Solutions by Dove Investments, Defati Investments Holding BV and Infinity Partners. The proposed combination relates to Dove Investments, Defati Investments Holding BV and Infinity Partners' minority acquisition of certain equity shareholding of Lenskart, a notice filed with the CCI said on Monday. Lenskart Solutions Pvt Ltd (LSPL) is engaged in the business of manufacturing, sale and wholesale trading of eyewear products, while Dove Investments, Defati Investments Holding BV and Infinity Partners are private equity investors. Separately, the regulator has cleared the acquisition of securities of a newly incorporated entity of Mahindra & Mahindra Ltd by the World Bank Group arm IFC. The combination pertains to IFC proposing to subscribe to certain compulsorily convertible preference shares (CCPS) of the new unit of Mahindra & Mahindra. In March, Mahindra & Mahindra announced that the World ...

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

Business Standard brings you top news at this hour

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