Page 4 - Cci

New cost norms to aid accurate checks on predatory pricing, says CCI chief

Amidst concerns and complaints over predatory pricing ways, Competition Commission chief Ravneet Kaur on Tuesday said the new cost of production norms will help in having more accurate and objective assessment for easier enforcement outcomes. Speaking at the function to mark the 16th Annual Day of the Competition Commission of India (CCI) in the national capital, she also said that digital markets see rapid change and the first mover advantage gets concretised very quickly. "We have the possibility of algorithmic decision-making and self-preferencing by those having the first mover advantage," she said. Against this backdrop, Kaur said there is a need to have a balance in looking at such conduct, where the approach is "evidence-based, proportionate and anchored in rigorous economic analysis". Earlier this month, the Competition Commission of India (Determination of Cost of Production) Regulations, 2025 was notified. Kaur said it is very essential to have a consistent approach for

CCI to bring new toolkit for curbing cartels in public procurement

The antitrust watchdog has been concerned over private companies taking advantage of lack of such checks in the systems to form cartels while bidding for public procurement tenders

Singapore's GIC seeks approval from CCI for 2.14% stake in IPO-bound Groww

The proposed investment is part of Groww's broader plan to raise $200 million in pre-IPO funding and may double its valuation to $6.5 billion

CCI clears Knowledge Realty's acquisition of Blackstone, Sattva entities

The Competition Commission of India on Tuesday approved IPO-bound Knowledge Realty Trust's acquisition of several entities affiliated with private equity major Blackstone and Bengaluru-based Sattva Group. Knowledge Realty Trust (KRT) is sponsored by real estate company Sattva Group and Blackstone. "The proposed combination comprises of direct and indirect acquisition by the Knowledge Realty Trust, acting through its manager, Knowledge Realty Office Management Services, formerly known as Trinity Office Management Services (acquirer REIT), of certain entities, some of which inter-alia belong to the Blackstone Group, some belonging to the Sattva Group and remaining held jointly controlled by Blackstone and Sattva Group," the regulator said in a release. Knowledge Realty Office Management Services is a Sebi-registered REIT engaged in the business of owning and/or operating a portfolio of rent or income-generating real estate assets and related income-generating assets. "Competition ...

Mahindra seeks CCI approval to acquire 59% stake in SML Isuzu for ₹555 cr

Mahindra & Mahindra (M&M) has sought approval from the Competition Commission of India to acquire majority stake in commercial vehicle maker SML Isuzu. The company had earlier announced that it would acquire 58.96 per cent stake in SML Isuzu for Rs 555 crore. "The proposed combination relates to acquisition of shareholding by the acquirer (M&M) in the target (SML Isuzu Ltd)," a notice filed with the Competition Commission of India (CCI) said on May 5. The proposed combination is notified under section 5(a)(i)(A) of the Competition Act, 2002, it added. M&M is the flagship company of the Mahindra group, which is engaged in various sectors such as automotive, farm equipment, financial services, IT aerospace, real estate & infrastructure, logistics and hospitality. For the assessment of CCI, the parties said "the proposed combination will not lead to any change in the competitive dynamics, let alone cause any appreciable adverse effect on competition in India, ...

Parliamentary panel seeks info on digital market competition from CCI, MCA

A Parliamentary panel has sought detailed information from regulator CCI and the Ministry of Corporate Affairs on various aspects of competition in relation to the digital markets, including those pertaining to the digital competition bill, according to sources. The Parliamentary Standing Committee on Finance, which is looking into the 'Evolving Role of Competition Commission of India in the Economy, particularly the Digital Landscape', had a meeting on April 28. Following the meeting, the panel, headed by headed by BJP leader Bhartruhari Mahtab, has sought more details on various aspects of competition in the digital markets, Competition Commission of India (CCI) and the actions taken by the watchdog. Among other topics, the sources said the committee has asked about whether the ongoing India-US bilateral trade negotiations has any bearing on the progress of the digital competition bill. The draft Digital Competition Bill 2024 seeks to put in place several obligations for large ..

Warburg Pincus seeks CCI approval to buy 10% stake in IDFC First Bank

Private equity major Warburg Pincus has sought fair trade regulator CCI's approval to acquire 10 per cent stake in private sector lender IDFC First Bank. US-based Warburg Pincus through its arm Currant Sea Investments BV will acquire the stake in IDFC First Bank. "The acquirer (Currant Sea Investments B V) proposes to acquire up to 9.99 per cent of the paid up share capital (on a fully diluted basis) of the target (IDFC First Bank) by way of subscription to 81,26,94,722 compulsorily convertible cumulative preference shares," a notice filed with the CCI said on April 28. The deal has been notifiable to the Competition Commission of India under Section 5(a)(i)(A) of the Competition Act, 2002, it added. IDFC First Bank is engaged in the business of providing banking services as well as other financial solutions. The notice also said that Platinum Invictus B 2025 RSC Ltd, an arm of Abu-Dhabi Investment Authority (ADIA) plans to subscribe to 43.72 crore preference shares in IDFC First

Alpha Wave Global, IHC seek CCI nod to acquire minority stakes in Haldiram

Alpha Wave Global, and IHC (International Holding Company) have sought the Competition Commission of India's approval to acquire minority stakes in Haldiram Snacks Food. Alpha Wave is a global investment company and United Arab Emirates-based IHC is one of the world's largest investment companies having a USD 250 billion market valuation and listed on Abu Dhabi Securities Exchange. "The proposed transaction entails the acquisition of less than 10 per cent of the issued and paid-up equity share capital of the target (Haldiram Snacks Food Pvt Ltd)," said a notice filed with the Competition Commission of India (CCI). The proposed combination, classified as an acquisition of shares and voting rights, falls under specific clauses of the Competition Act, it added. Haldiram Snacks Food is the combined business of the Haldiram family -- Delhi and Nagpur. In its submission to the CCI, Alpha Wave Ventures II LP and Alpha Wave IHC CI, LP (acquirers) said that the exact delineation of the ...

Taxpayers barred from claiming deductions on Sebi, CCI settlement costs

The income tax department on Thursday said taxpayers will not be allowed to claim deduction for expenditures incurred to settle proceedings initiated under four laws, including the Sebi and the Competition Act. In a notification issued on April 23, the Central Board of Direct Taxes (CBDT) notified that any expenditure incurred to settle proceedings initiated in relation to contravention or defaults under the four specified laws shall not be deemed to have been incurred for the purpose of business or profession and no deduction or allowance shall be made in respect of such expenditure. The four laws are the Securities and Exchange Board of India Act, 1992; the Securities Contracts (Regulation) Act, 1956; the Depositories Act, 1996; And the Competition Act, 2002.

CCI approves Kandhari's Rs 2,000-cr deal for Coca-Cola's bottling unit

Fair trade regulator CCI on Tuesday approved Kandhari Global Beverages' proposal to acquire beverage major Coca-Cola's bottling plant for Rs 2,000 crore. Kandhari Global Beverages is an authorised bottler of the Coca-Cola Company (TCCC) and Schweppes Holdings, and is engaged in the business of supplying and distributing non-alcoholic beverage (NAB) products in Rajasthan. "CCI approves the proposed acquisition of the target business by Kandhari Global Beverages Pvt Ltd," the Competition Commission of India (CCI) said in a release. The target business comprises Hindustan Coca-Cola Beverages Pvt Ltd's (HCCBPL) business of preparing, packaging, supplying and distributing NAB products in north Gujarat and Union Territory of Diu. Last month, Coca-Cola said that it is selling its bottling plant in the north Gujarat region to Kandhari Global Beverages. Though the company has not shared financial details, industry insiders have pegged the deal to be around Rs 2,000 crore, where Coca-Cola w

CCI clears 360 One, Bharti Life Ventures stake buy in Bharti AXA Life

The Competition Commission of India (CCI) on Tuesday cleared a joint proposal of wealth management firm 360 ONE and Bharti Life Ventures to acquire stakes in Bharti Axa Life Insurance Company. Bharti Axa Life Insurance Company is a public unlisted company incorporated in India. It is involved in the business of providing life insurance policies. "Commission approves the acquisition of certain equity shares of Bharti Axa Life Insurance Company Ltd (BALIC) by 360 ONE Private Equity Fund, through its schemes or affiliates (360 Fund)," the regulator said in a release. The regulator has also granted its approval for the subscription of certain equity shares in BALIC by Bharti Life Ventures Pvt Ltd (BLVPL) and 360 Fund, it added. 360 Fund is a Sebi-registered alternative investment fund. It is ultimately owned and controlled by 360 ONE WAM Ltd while BLVPL is the holding company of BALIC, and both of these companies belong to billionaire Sunil Bharti Mittal's Bharti Group. In February,

Google pays Rs 20.24 crore in Android TV case settlement with CCI

Google has settled with the Competition Commission of India (CCI) a case related to alleged unfair business practices in the Android TV segment and paid a settlement amount of Rs 20.24 crore to the regulator. This is the first case to be settled under the amended Competition Act, wherein settlement and commitment provisions were introduced in 2023. After receiving a complaint, CCI had ordered a detailed probe in 2021. Later, Google proposed to settle the case and CCI considered the settlement proposal and observed that under the "New India Agreement", Google will provide a standalone license for the Play Store and Play Services for Android smart TVs in India, thereby, removing the requirement to bundle these services or impose default placement conditions, a release said on Monday. "Additionally, by waiving the need for valid Android Compatibility Commitments (ACC) for devices shipped into India that do not include Google apps, OEMs can now sell and develop incompatible Android ...

Delhivery, Ecom Express seek CCI nod for their Rs 1,400-crore deal

Logistic firm Delhivery Ltd and Ecom Express have sought Competition Commission of India's approval for their Rs 1,400-crore deal. Under the deal announced on April 5, Delhivery will acquire a controlling stake in Ecom Express for a cash consideration of Rs 1,400 crore. While Delhivery is a listed integrated logistics player, Ecom Express provides logistics solutions to the Indian e-commerce industry. According to the notice submitted to the regulator, the relevant products and geographic markets can be left open, given that the proposed deal will not lead to any change in the competitive dynamics, let alone cause any appreciable adverse effect on competition, in any market in India. Against the backdrop of potential business overlaps, the notice has mentioned that with respect to horizontal overlaps, the markets for provision of express parcel delivery services in India, and for provision of warehousing and supply chain services in India can be considered as relevant ones. In ter

Aster DM Healthcare gets CCI go-ahead for merger with Quality Care India

Combined entity to be among top 3 hospital chains in India with more than 10,000 beds across 27 cities

CCI imposes penalties on UFO Moviez, others for anti-competitive practice

This comes after it was alleged that UFO Moviez entered into anti-competitive agreements with CTOs to help and assist the business of Scrabble Digital, as per the CCI order

Premji Invest, Pai family get CCI nod to acquire stakes in Akasa Air

Fair trade regulator CCI on Tuesday approved proposals of tech tycoon Premji Invest, Manipal Group Chief Ranjan Pai's family office and 360 ONE Asset to acquire stakes in domestic carrier Akasa Air's parent company SNV Aviation. SNV Aviation Pvt Ltd, which operates Akasa Air, is engaged in air passenger and cargo transport services. "The proposed combination involves the acquisition of a certain shareholding in Akasa Air by PIOF, PI Executives, Claypond, and 360 Fund, acting through its investment manager, 360 ONE Alternates Asset Management Ltd," the Competition Commission of India (CCI) said in a release. PIOF is a Sebi-registered alternative investment fund owned and controlled by Premji Invest, while Claypond is an arm of the Pai family group. "Commission approves the acquisition of certain shareholding in SNV Aviation Private Limited (Akasa Air) by PI Opportunities Fund-I Scheme-II (PIOF), certain executives of PIOF, Claypond Capital Partners Private Limited (Claypond), and 36

Reviewing feedback on draft rules for production cost norms: CCI chief

The Competition Commission of India (CCI) is reviewing stakeholders' comments on the proposed regulations for the determination of cost of production, according to its chief Ravneet Kaur. As part of efforts to update the framework for assessing predatory pricing, the watchdog came out with the draft rules in February. "On the regulatory and policy front, the Commission initiated public consultation on the draft 'The Competition Commission of India (Determination of Cost of Production) Regulations, 2025'. We have received stakeholder comments and they are currently under review," Kaur said. In her message in the CCI's latest quarterly newsletter for the January-March period, Kaur also said the regulator remained active in scrutinising combinations to ensure they do not impede market competition. Competition law prohibits predatory pricing as an abusive conduct by a dominant enterprise. CCI's review of the existing regulations is aimed to align them with modern economic theories, ..

Explain steps taken to safeguard small retailers: House panel to CCI

Committee also seeks status of the proposed digital competition law

CCI seeks evidence in complaint against quick-commerce companies

The AICPDF had filed a complaint with CCI on behalf of its President, Dhairyashil Patil against Blinkit, Zepto and Instamart last month

CCI chief Ravneet Kaur given additional charge of NFRA chairperson

Kaur will serve as NFRA chairperson till the appointment of a regular incumbent or until further orders whichever is earliest, according to the Appointments Committee of the Cabinet