Page 2 - Cci

We are being punished for providing superior services, Meta tells NCLAT

Meta told NCLAT it was being punished by CCI for offering superior services and highlighted lapses in the watchdog's findings on WhatsApp's 2021 privacy policy case

JSW Paints gets CCI nod to acquire up to 75% stake in Akzo Nobel India biz

The acquisition will make JSW Paints the fourth-largest player in the country's paint industry

Abuse of dominance not proved by CCI, Meta tells NCLAT

Meta told NCLAT that integrating WhatsApp data enhances advertiser value and market leadership, adding CCI failed to prove abuse in its dominance case

CCI overstepped jurisdiction by ruling on privacy issues: WhatsApp to NCLAT

The appellate tribunal in March this year had deferred the hearing in the case, citing the upcoming Digital Personal Data Protection (DPDP) Rules

CCI dismisses complaint against Emaar India over Marbella villa project

Fair trade regulator CCI has dismissed a complaint alleging abuse of dominance and anti-competitive practices by Emaar India Ltd and others in connection with its "Marbella" villa project in Gurugram. "The Commission finds that no prima facie case of contravention of the provisions of Sections 3 and 4 of the Act is made out against the opposite parties in the instant matter," according to an order passed by the Competition Commission of India (CCI). Section 3 and 4 pertain to anti-competitive agreements and abuse of dominant position, respectively. The case was based on a complaint filed by an informant who alleged that Emaar India Ltd, its group firm Emaar India Community Management, and several government departments including the Department of Town and Country Planning, Haryana, and the Union of India through DPIIT have violated the Sections 3 and 4 of the Competition Act. The complainant alleged that Emaar misused its dominant position by permitting construction of builder floo

Yes Bank stock up 3% on CCI nod for this deal; check more details inside

Yes Bank's share price was quoting 3.3 per cent higher at ₹20.2 per share against the previous close of ₹19.55 on the NSE

CCI, MeitY to work together on competition and data protection issues

CCI and MeitY have agreed to collaborate on overlaps between the DPDP Act and Competition Act, aiming for regulatory harmony in addressing data protection, competition and consumer welfare

CCI okays Multiples Equity-led consortium stake buy in VIP industries

A group of investors led by Multiples Equity on Tuesday received approval from the Competition Commission of India (CCI) to acquire stakes in luggage and travel accessories maker VIP Industries. VIP Industries promoters Dilip Piramal and Family in July had announced the sale of up to 32 per cent of their stake in the company to a consortium led by Multiples Equity, an alternative asset management company. The consortium comprises Multiples Private Equity Fund IV (MPEF), Multiples Private Equity Gift Fund IV (MPGF), Samvibhag Securities, Caratlane founder Mithun Padam Sacheti, and his brother, Siddhartha Sacheti. "The proposed combination relates to the acquisition of certain shareholding by Multiples Private Equity Fund IV, Multiples Private Equity Gift Fund IV, Samvibhag Securities Pvt Ltd, Mithun Sacheti and Siddhartha Sacheti in VIP Industries Ltd," the fair trade regulator said in a release. Multiples focuses on core sectors of financial services, pharma & healthcare, consumer

CCI approves Adani Enterprises' plan to acquire Jaiprakash Associates

CCI approved Adani Enterprises' plan to acquire JAL under the insolvency process, even as rival bids from Dalmia, Vedanta, Jindal and PNC Infratech remain under review

Publicis sues CCI for denying case files in ad firms' cartelisation probe

Details of cartel cases are kept confidential in India, but Reuters has reported that the CCI's initial assessment found the firms used a WhatsApp group to coordinate and agree on pricing

CCI orders probe against RCF for unfair sale of products with urea in Maha

The Competition Commission of India has ordered a probe against state-run Rashtriya Chemicals and Fertilizers for allegedly compelling dealers and farmers to buy other products along with urea in Maharashtra. Acting on a complaint filed by an individual, the fair trade watchdog said the conduct of RCF appeared to contravene provisions of the Competition Act, including those relating to abuse of dominant position and anti-competitive agreements, according an order. The Competition Commission of India (CCI) has directed its investigation arm, the Director General, to probe the matter and submit a report within 60 days. It was clarified by CCI that the observations were preliminary and would not prejudice the outcome of the investigation. The complainant (individual) alleged that RCF, a 'Navratna' PSU and a leading fertiliser maker, was compelling dealers and farmers to buy non-subsidised products such as water-soluble fertilisers along with urea. The CCI noted that urea's maximum ret

CCI approves Dalmia's proposal to acquire Jaiprakash Associates

The Competition Commission of India has approved Dalmia's plan to acquire JAL under insolvency resolution; Adani's proposal is still under review

Manipal Hospitals seeks CCI nod to buy Sahyadri Hospitals in ₹6,400 cr deal

Healthcare major Manipal Hospitals has sought approval from the fair trade regulator CCI to acquire Pune-based Sahyadri Hospitals from global investor Ontario Teachers' Pension Plan Board in a deal pegged at around Rs 6,400 crore. The companies did not share the deal size, but industry sources estimate the transaction to be in the range of Rs 6,200-6,400 crore. "The proposed transaction envisages the acquisition of up to 100 per cent shareholding by the acquirer (Manipal Hospitals Pvt Ltd) in the target (Sahyadri Hospitals Pvt Ltd) in multiple tranches," according to a notice filed with the Competition Commission of India (CCI). Manipal Hospitals and Sahyadri Hospitals said the "proposed transaction does not have any impact on any relevant market in India, let alone any appreciable adverse effect on competition (AAEC), and therefore, the definition of the relevant product and geographic market may ultimately be left open. In any event, in order to aid and assist the CCI in its ...

CCI orders another investigation into Google over AdTech dominance charges

Fair trade regulator CCI has ordered a detailed investigation into Google's conduct in the online display advertising market on a complaint filed by the Alliance of Digital India Foundation (ADIF). In an order passed by CCI on Friday, the regulator said it has decided to club the complaint with ongoing investigations in similar cases and directed the Director General (DG) to carry out a consolidated probe into Google's conduct in the AdTech ecosystem. "The DG is directed to investigate the various alleged practices of Google in Online Display Advertising services and/ or AdTech intermediation services and submit a consolidated investigation report in the matters, accordingly," it added. The order comes in response to a detailed complaint filed by ADIF alleging that Google has engaged in anti-competitive practices across various layers of its advertising technology stack. In its complaint, ADIF alleged that Google, through its multiple group entities, has engaged in anti-competitive

Multiples-led consortium seeks CCI nod to acquire stake in VIP Industries

A clutch of investors led by Multiples Equity have sought approval from the fair trade regulator CCI to acquire a 32 per cent stake in luggage and travel accessories maker VIP Industries. The move came after Dilip Piramal and Family -- promoters of VIP Industries -- announced last week that they will sell up to 32 per cent of their stake in the company, to Multiples Equity, an alternate asset management company. Multiples consortium consists of ?Multiples Private Equity Fund IV (MPEF), Multiples Private Equity Gift Fund IV (MPGF), Samvibhag Securities, Caratlane founder Mithun Padam Sacheti, his brother Siddhartha Sacheti and Profitex Shares and Securities will acquire stakes in VIP Industries. "The proposed combination relates to acquisition of shareholding by the acquirers(MPEF, MPGF, Samvibhag Securities, Mithun and Siddhartha Sacheti) in the target VIP Industries," according to a notice filed with the Competition Commission of India (CCI) on Friday. Multiples is an alternate as

PlayStore billing policy: Google appeals NCLAT order in Supreme Court

Google approached the Supreme Court on July 21

Torrent Pharma seeks CCI nod for ₹19,500 cr majority stake in JB Chemicals

Ahmedabad-based Torrent Pharmaceuticals has sought fair trade regulator CCI's clearance to acquire a majority stake in in J B Chemicals and Pharmaceuticals in a Rs 19,500-crore deal. After the completion of the deal, Torrent Pharmaceuticals will become India's second most valued pharma company. The development came after Torrent Pharmaceuticals in June this year announced the acquisition of a majority stake in J B Chemicals and Pharmaceuticals in a Rs 19,500-crore deal. "The proposed combination relates to acquisition of shareholding by the acquirer (Torrent Pharmaceuticals Ltd) in the target (J B Chemicals & Pharmaceuticals Ltd) and the subsequent amalgamation of the target with the acquirer," according to a notice filed with the Competition Commission of India (CCI). Torrent Pharmaceuticals is the flagship company of the Torrent group and is engaged in the business of manufacturing and sale of pharmaceutical formulations (FDFs) across therapeutic segments. J B Chemicals & ...

CCI revises probe order against Asian Paints, removes previous findings

The Competition Commission of India revises its probe order against Asian Paints, removing references to previous findings of dominance, amid a complaint by Grasim Industries

CCI imposes ₹4 lakh fine on Carlyle, Bequest for flouting competition norms

The Competition Commission of India (CCI) has imposed a total fine of Rs 4 lakh on Carlyle and Bequest for erroneously using the green channel route to acquire stakes in engineering services firm Quest Global Services. The competition watchdog found that Carlyle and Bequest's "combination did not meet the criteria of Green Channel prescribed under schedule III of the combination regulations," the CCI said in an order passed on June 26. In October 2023, the CCI said it received a notice jointly submitted by Carlyle's affiliate CA Plume Investments and Bequest Inc under the green channel route for the acquisition of up to 23.6 per cent equity stake in Quest Global Services and 9.17 per cent holding by Bequest with share buyback component. Bequest is a holding entity of Quest Global Services' co-founder and CEO, Ajit Aravind Prabhu. The green channel criteria are a fast-track approval route intended for combinations with no horizontal, vertical or complementary overlaps. In the notic

360 One group gets CCI nod to acquire UBS India wealth and lending units

Fair trade regulator CCI on Tuesday approved 360 ONE group's proposal to acquire certain businesses of Switzerland-based multinational investment bank UBS AG. "The proposed combination comprises acquisition of portfolio management services business of Credit Suisse Securities (India) Pvt Ltd in India by 360 ONE Portfolio Managers Ltd and stock broking services and financial product distribution services of CS Securities by 360 ONE Distribution Services Ltd (360 Distribution)," the Competition Commission of India (CCI) said in a release. Credit Suisse Securities (India) is a step-down wholly-owned subsidiary of UBS AG. CCI said it has also cleared a loan portfolio which forms part of lending and financing business of UBS Finance India Pvt Ltd, undertaken as a systematically important non-deposit taking non-banking financial company by 360 ONE Prime Ltd. Additionally, the competition watchdog approved UBS AG's subscription to warrants of 360 ONE WAM representing a 4.95 per cent of th