Page 4 - Cci

CCI directs UltraTech/India Cements, Dalmia to furnish financial records

Fair trade regulator CCI has directed Aditya Birla firm UltraTech, which now owns south-based cement firm India Cements, along with two other makers, and their executives to submit financial documents, after its Director General in its investigations found contravention of competition norms. The Competition Commission of India (CCI) has also directed Dalmia Bharat Cements and Shree Digvijay Cements to submit their audited financial statement, including balance sheet and profit and loss account, within eight weeks of the order. It has directed UltraTech to submit the financial statements of its subsidiary India Cements for five years from FY15 to FY19, while Dalmia Bharat Cements and Shree Digvijay Cements for nine years, from FY11 to FY19. Besides, CCI has also directed their executives to submit detailed financials and income tax records for five years, along with formal responses to the investigation report. An email sent to UltraTech Cements and Dalmia Cement Bharat remained ...

Reviewing CCI order, will take appropriate legal recourse: Asian Paints

Asian Paints is reviewing the order passed by fair trade regulator CCI directing a probe against the country's leading paint maker for alleged abuse of its dominant position in the market and said it plans to take appropriate legal recourse. Asian Paints said it will cooperate with the Competition Commission of India (CCI) in the investigation over allegations of exclusionary practices. "The company is currently reviewing the order and will take appropriate legal recourse. The company remains committed to fully cooperating with the CCI during the course of the investigation," Asian Paint said in a late night regulatory filing on Thursday. Earlier this week, CCI ordered an investigation against Asian Paints for allegedly abusing its dominant position in the market for manufacturing and sales of decorative paint over the complaints filed by Aditya Birla group firm Grasim Industries. Grasim, a new entrant in the domestic paint industry with brand Birla Opus, had accused Asian Paints o

CCI approves Coromandel's acquisition of stake in NACL Industries

Fair trade regulator CCI on Tuesday cleared Murugappa Group firm Coromandel International's proposal to acquire a stake in NACL Industries. NACL, a listed entity, operates in the agro-chemical sector. It offers crop protection products and active ingredients. "The proposed combination comprises acquisition of certain equity shares in NACL Industries Ltd (NACL) by Coromandel International Ltd (CIL)," the Competition Commission of India (CCI) said in a release. CIL is a leading agri solutions provider. It operates in two major segments, nutrient and other allied businesses and crop protection. "CCI approves acquisition of certain equity shares in NACL Industries Limited by Coromandel International Ltd," the regulator said in a post on X. In March this year, Coromandel International announced the acquisition of a majority -- 53 per cent -- stake in NACL Industries Ltd for Rs 820 crore. The company also said that it proposes to make an open offer to the public to acquire up to 26 per

CCI approves GIC's move to acquire 2.14% stake in Groww ahead of IPO

Fair trade regulator CCI on Tuesday cleared Singapore's sovereign wealth fund GIC's proposed acquisition of a 2.14 per cent stake in IPO-bound Billionbrains Garage Ventures, the parent company of investment tech unicorn Groww. GIC, through its affiliate, Viggo Investment Pte (GIC Investor), is acquiring a stake in Groww. "The proposed combination relates to the acquisition of 2.143 per cent shareholding in Billionbrains Garage Ventures Ltd (Groww) by Viggo Investment Pte Ltd (GIC Investor) pursuant to the execution of, inter alia, a Deed of Adherence and Share Subscription Agreement dated 28th April 2025," the Competition Commission of India (CCI) said in a release. Groww, which operates an online trading platform, offers stock trading, mutual fund investments and other financial instruments. The company also has an asset management business. "CCI approves acquisition of shares of Billionbrains Garage Ventures Limited by Viggo Investment Pte Ltd," the regulator said in a post on ..

CCI approves British Int'l investment in ReNew Photovoltaics solar business

The Competition Commission of India (CCI) on Tuesday approved British International Investment's proposal to acquire a stake in solar manufacturing firm ReNew Photovoltaics. British International Investment plc is a development finance institution, wholly owned by the UK Government, which provides scarce and patient capital to private sector entrepreneurs in developing countries. "The proposed combination relates to an investment by the acquirer (British International Investment) in the target (ReNew Photovoltaics Pvt Ltd) through subscription to securities of the target," CCI said in a release. Renew Photovoltaics is engaged in the manufacturing of solar modules and cells in India. "CCI approves the proposed investment by British International Investment plc in ReNew Photovoltaics Pvt Ltd," the competition watchdog said in a post on X. Last month, ReNew Energy Global Plc announced that it has secured an investment of Rs 870 crore (around USD 100 million) from British Internationa

A watchdog's watchlist: Meet Ravneet Kaur, the 1st woman ever to head CCI

Only the second woman to head a regulatory body in India, Kaur tells about her deep interest in economics, the challenges of AI, and why she might be seen as a tough taskmaster

Dentsu India admits to being CCI whistleblower in ad cartel investigation

Dentsu India confirms it approached CCI under the leniency programme, triggering cartel investigation into media buying agencies and ad rate collusion

In a first, CCI probes allegations against quick-commerce companies

The CCI had asked the distributor's body for details on relevant market share of each of the quick commerce players in the FMCG industry

CCI okays Mahindra's proposal to buy 59% stake in SML Isuzu for ₹555 cr

The Competition Commission of India (CCI) on Tuesday cleared Mahindra & Mahindra's proposed acquisition of a nearly 59 per cent stake in commercial vehicle maker SML Isuzu for Rs 555 crore. Mahindra & Mahindra in April announced the acquisition of a 58.96 per cent stake in SML Isuzu for Rs 555 crore. "The proposed combination relates to acquisition of SML Isuzu Ltd (Target) by Mahindra and Mahindra Limited (acquirer)," CCI said in a release. Mahindra & Mahindra is the flagship company of the Mahindra group. It is engaged in the automotive, farm equipment, agricultural products and services sector, etc. "CCI approves the proposed combination involving acquisition of SML Isuzu Ltd by Mahindra and Mahindra Ltd," the regulator said in a post on X. In April, the Mumbai-based automaker Mahindra & Mahindra said it would acquire the entire stake of 43.96 per cent held by Sumitomo Corporation, promoter of SML, and separately acquire a 15 per cent stake held by Isuzu Motors, ...

CCI clears Delhivery's ₹1,400 crore acquisition of Ecom Express stake

Fair trade regulator CCI on Tuesday cleared logistics services provider Delhivery's proposal to acquire a majority stake in Ecom Express for about Rs 1,400 crore. "The proposed combination comprises the acquisition of at least 99.44 per cent of the equity and preference shareholding (on a fully diluted basis) of Ecom Express Ltd (Ecom) by Delhivery Ltd," the Competition Commission of India (CCI) said in a release. Delhivery is an integrated logistics player and provides a full-range of logistics services while Ecom Express is an unlisted entity which provides logistics solutions to the Indian e-commerce industry. "CCI approves acquisition of at least 99.44 per cent of the equity and preference shareholding (on a fully diluted basis) of Ecom Express Ltd by Delhivery Ltd," the competition watchdog said in a post on X. In April, Delhivery announced the acquisition of Ecom Express for a cash consideration of about Rs 1,400 crore to scale up its business. The company said it has "signe

Digital competition Bill: Online cos tell Parl panel to protect innovation

The Parliamentary Panel is looking into the role of the Competition Commission of India (CCI) in an evolving economy, particularly the digital landscape

Asian Paints may face CCI probe for alleged market dominance abuse

The complaint alleged that Asian Paints pressured its network of dealers against doing business with Grasim's Birla Opus

CCI to decide on probe into Asian Paints for 'abuse' of dominant position

The allegations against Asian Paints include restricting dealers from doing business with Grasim's Birla Opus

Delhi HC restrains GST department from coercive action against CCI

HC grants interim relief to CCI in tax demand case, citing earlier ruling favouring regulators; GST department directed to respond by July-end

CCI found global ad agencies colluded on fees, internal document shows

The regulator had received specific inputs, which ultimately triggered the March raids at ad agency offices in Mumbai and Delhi

Bajaj Group get CCI's nod to acquire Allianz's 26% stake in insurance JVs

Fair trade regulator CCI on Tuesday cleared Bajaj Group's proposed acquisition of a 26 per cent stake each in its insurance joint ventures, Bajaj Allianz General Insurance and Bajaj Allianz Life Insurance, from its partner Allianz SE for a total of Rs 24,180 crore. "The proposed combination involves acquisition of 26 per cent paid-up equity share capital of Bajaj Allianz Life Insurance Company Ltd (BALIC) and Bajaj Allianz General Insurance Company Ltd (BAGIC) by Bajaj Finserv Ltd (BFS), Bajaj Holdings & Investment Ltd (BHIL) and Jamnalal Sons Pvt Ltd (JSPL) from Allianz SE," the regulator said in a release. BFS is engaged in the provision of financial services, including consumer and SME finance, housing finance, general insurance, and JSPL is a private limited company incorporated under the provisions of the Companies Act, 1913. BHIL is a RBI-registered as a non-banking financial company - investment and credit company and BALIC and BAGIC are joint ventures between Bajaj Finserv

Govt likely to amend IBC to scrap prior CCI nod for insolvency bids

Experts feel a clarity by the government on this matter would bring relief to bidders who were concerned about approaching CCI before the CoC approval

CCI gives nod to Temasek's minority acquisition of Haldiram Snacks Food

Temasek's subsidiary Jongsong will acquire under 10% stake in Haldiram Snacks Food, now consolidated under HSFPL following a major FMCG merger in April

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