Page 4 - Cci

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

CCI clears Kedaara Capital's stake acquisition in logistics firm Porter

The Competition Commission of India (CCI) on Tuesday cleared a proposal by private equity firm Kedaara Capital to acquire a stake in SmartShift Logistics Solutions, the parent company of on-demand logistics-turned-unicorn Porter. Mumbai-based Kedaara Capital is acquiring a stake through its two affiliates Kedaara Sapphire Holding and Kedaara Capital Fund IV AIF in Porter. "CCI approves the acquisition of a certain stake in SmartShift Logistics Solutions Pvt Ltd jointly by Kedaara Sapphire Holding and Kedaara Capital Fund IV AIF," the competition watchdog said in a post on X. Porter is primarily engaged in business activities, including the provision of logistics services, packing and moving services. In May this year, Porter announced that it raised USD 200 million in a Series F funding round co-led by Kedaara Capital and Wellington Management at a valuation of USD 1.2 billion. Meanwhile, Porter's early investors venture capital firm Peak XV Partners (formerly Sequoia Capital Indi

Not under CCI investigation, matter relates to India Cements: UltraTech

The country's leading cement maker UltraTec, on Saturday said it is not under investigation by the fair trade regulator CCI over alleged contravention of competition norms in tenders floated by state-run oil major ONGC. "It is clarified that the Company is not under investigation in this Case No. 35 of 2020 before the Competition Commission of India (CCI). The company has neither received any order from the CCI in this case nor have the company's financials been sought by the CCI," said the Aditya Birla group flagship firm in a BSE filing. It further said that its newly acquired entity India Cements Ltd (ICEM) is a party in case No 35 of 2020 and the South-India-based manufacturer is exploring legal options over the same. "The India Cements Ltd (ICL), a subsidiary of the Company, is party to Case No. 35 of 2020 and is separately making appropriate disclosures in this regard, while exploring legal options," it said. India Cements, which was earlier promoted by the Srinivasan family

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