Page 3 - Competition Commission Of India Cci

Deepak Anurag sworn in as member of Competition Commission of India

Deepak Anurag, retired additional deputy comptroller and auditor general of India, was sworn in as member of fair trade regulator Competition Commission on Monday. The Competition Commission of India (CCI) now has four members, including Chairperson Ravneet Kaur. Anurag was sworn in as member on Monday, according to a post by CCI on social media platform X. According to his LinkedIn profile, Anurag is a retired additional deputy comptroller and auditor general of India, at the Office of Comptroller and Auditor General of India. CCI also shared pictures of the member being sworn in on Monday. Last month, lawyer Sweta Kakkad and retired police officer Anil Kumar Agrawal were sworn in as members of the CCI. Kaur took charge as the Chairperson in May. The fair trade regulator is pursuing various cases, including those related to digital space, as well as dealing with all complaints related to GST profiteering.

AI, Singapore Airlines to maintain minimum capacity on certain routes

Air India and Singapore Airlines will ensure minimum capacity on various domestic and international routes, including Delhi-Sydney and Delhi-Paris, as part of commitments made to fair trade regulator CCI to address possible competition concerns arising out of the Vistara merger. Competition Commission of India (CCI), on September 1, approved the proposed merger of Vistara with Air India under a deal wherein Singapore Airlines will also acquire a 25.1 per cent stake in Air India. Certain competition concerns due to the proposed merger were raised by the watchdog and to address them, the airlines have given certain commitments with respect to the merger. As per the commitments, Air India has voluntarily offered to maintain "minimum capacity/ supply level" on certain overlapping O&D (Origin & Destination) domestic and overseas routes. They are Bhubaneshwar-Delhi, Bengaluru-Guwahati, Cochin-Delhi, Delhi-Thiruvananthapuram, Amritsar-Delhi, Bhubaneshwar-Mumbai and Bengaluru-Delhi in

CCI slaps Rs 55 lakh penalty on ADIA, TPG Group for false declarations

The Competition Commission of India has slapped penalties totalling Rs 55 lakh on Abu Dhabi Investment Authority (ADIA) and TPG Group for making false declarations before the regulator while availing the green channel facility in a deal related to the acquisition of a stake in UPL Sustainable Agri Solutions Ltd (UPL SAS). The acquirers, ADIA and TPG Group, shall pay the penalty jointly and severally, the CCI order said. The transaction pertains to the combination comprising the acquisition of a stake in UPL SAS by Platinum Trust and TPG Upswing through the Upswing Trust, the CCI said in the order. Abu Dhabi Investment Authority is the sole beneficiary and settlor of the Platinum Trust, while TPG Upswing is a part of the TPG Group. In December 2022, the Competition Commission of India (CCI) received a notice jointly given by Platinum Trust, acting through Platinum Trustee, and TPG Upswing in relation to the combination. The regulator noted that the UPL SAS acquisition has been ...

CCI brings draft regulations for Settlement and Commitment scheme

The antitrust watchdog has invited stakeholders to submit written comments on these draft regulations within 21 days ending September 13, 2023

CCI allows Apax Partners to acquire 30% stake in IBS Software Pte

Fair trade regulator Competition Commission of India (CCI) on Wednesday said it has approved Apax Partners' proposed acquisition of the stake in IBS Software Pte. The proposed combination relates to the acquisition of approximately 30 per cent of the issued share capital on a fully diluted basis of IBS Software Pte Ltd from Techware Singapore Holdings Pte Ltd, a portfolio company of Blackstone Inc by Pelipper HoldCo SARL, according to an official release. Pelipper HoldCo SARL is a special-purpose vehicle indirectly wholly owned by investment funds advised by Apax Partners LLP. IBS Software Pte is the parent company of the IBS group of companies, which is mainly active as a software vendor and predominantly for the aviation and travel industry. In May this year, global travel and logistics SaaS company IBS Software said Apax Funds will buy a minority stake in the company for USD 450 million. Post the latest transaction, IBS Software's Founder and Executive Chairman V K Mathews will

Competition Comm approves Toshiba Corporation-TBJH deal

Fair trade regulator CCI has approved the proposed deal involving Toshiba Corporation and TBJH Inc, an indirect subsidiary of private equity firm Japan Industrial Partners. The deal has been cleared under the green channel route. The combination relates to TBJH Inc acquiring the complete shareholding of Toshiba Corporation. Toshiba is a Japanese multinational conglomerate. In March, TBJH Inc announced that it will buy out all of Toshiba's shares listed on the Nagoya and Tokyo stock exchanges and take the business private. The Competition Commission of India (CCI) said it has cleared the deal. "The parties (including their affiliates) activities do not exhibit any horizontal, vertical, or complementary overlaps in any of the plausible relevant markets in India. "The proposed combination is being notified under the green channel route," according to an update on CCI's website on Tuesday. Under the green channel route, a transaction which does not raise any risk of an appreciable

Vistara to respond to CCI queries by month end, says CEO Vinod Kannan

Vistara CEO Vinod Kannan on Monday said the airline will submit its response to the Competition Commission's queries on the proposed merger with Air India by the end of this month and expressed confidence of receiving all regulatory approvals by early next year. The Competition Commission of India (CCI) has sought more details on the merger of Vistara with Air India, a deal that was announced in November last year. "There are certain questions that have been asked. We are going to give our response to the CCI by the end of this month. Then, the CCI will decide whether it needs to go to phase two or needs further clarification," Kannan said here. As per CCI norms, in case there are anti-competitive concerns, it can go for a detailed scrutiny which is generally called phase two of the approval process. Kannan said Vistara is expecting to have all regulatory approvals in place by early next fiscal. "The merger with Air India is on track". The airline has applied for approval for the

NCLAT dismisses All India Chess Federation's appeal against CCI order

The National Company Law Appellate Tribunal (NCLAT) has dismissed the appeal of the All India Chess Federation against an order passed by the fair trade regulator CCI on grounds of non-prosecution by the sports body. Appellate tribunal NCLAT, in its order, said the All India Chess Federation (AICF) has taken several adjournments despite being indicated on May 19, 2022, that no further adjournment shall be granted. The order said that on several occasions hearing has been adjourned on the prayer made by the federation on August 5, 2022, September 23, 2022, and December 12, 2022. "Today again a prayer for adjournment has been sought. It appears that the appellant is not interested to pursue the appeal. The appeal stands dismissed due to non-prosecution," said NCLAT in its order dated July 11, 2023. The Competition Commission of India (CCI) had in July 2018 penalised AICF and directed it to "cease and desist" from anti-competitive practices. The ruling had come on a complaint filed b

Android case: Google, CCI appeal against NCLAT order to be heard on July 14

The court also set aside directives that would have forced the tech giant to allow individual app store developers to distribute their app store through the Google Play Store

CCI approves acquisition of Marnix Lux SA by Concentrix Corporation

The proposed combination envisages indirect acquisition of Marnix Lux SA (Marnix Lux) by Concentrix Corporation

Competition body reviewing report on Apple app store billing policy

Apple could be asked to make changes to its commission policies and app store billing by the CCI, experts said

Pricol gets relief from Madras High Court in tussle with Minda Corp

Auto components maker Pricol Ltd on Thursday said it has moved the Madras High Court challenging the validity of the application of rival Minda Corporation to the Competition Commission of India to acquire a 24.5 per cent stake in it. Minda Corporation had earlier this month decided to approach the CCI to increase its stake in Pricol to up to 24.5 per cent, following the acquisition of a 15.7 per cent stake by purchasing over 1.91 crore shares of the latter from the open market on February 17, 2023. In a regulatory filing, Pricol said it has filed a writ petition before the Madras High Court in connection with Minda Corporation Ltd's (Minda's) application to the CCI. The petitions challenged the validity of the application of Minda to the CCI, for making investment in equity shares of Pricol Ltd up to 24.5 per cent of total equity shares, it added. The Division Bench of the High Court on May 24, 2023 "admitted the writ petition and restrained by way of an interim order, the taking

CCI gives nod to Blackstone-Emerson Electric Co acquisition deal

The Competition Commission of India (CCI) on Friday said it has granted its approval for the stake acquisition in climate technologies' business of Emerson Electric Co by BCP Emerald Aggregator LP. BCP Emerald Aggregator LP is an affiliate of US-based alternative asset manager Blackstone. The deal has been cleared under the green channel route. The proposed transaction relates to the acquisition by BCP Emerald Aggregator LP (Buyer) of a majority stake in the climate technologies business of Emerson Electric Co (Seller), according to CCI. The regulator has also approved the proposed investment by Stamford Bridge Investment Pte Ltd, an SPV of GIC (Ventures) and Platinum Falcon B 2018 RSC Ltd (Platinum), in BCP Emerald Aggregator LP. GIC (Ventures) is a subsidiary of Singapore's sovereign wealth fund GIC, while Platinum is an affiliate of the Abu Dhabi Investment Authority (ADIA). Emerson Electric Co designs and manufactures products and delivers services to a wide range of industri

CCI approves SREI Infrastructure Finance's acquisition by NARCL, IDRCL

Fair-trade regulator CCI on Thursday said it has approved the acquisition of SREI Infrastructure Finance by National Asset Reconstruction Company Ltd and India Debt Resolution Company Ltd. The deal has been cleared under the green channel route. National Asset Reconstruction Company Ltd (NARCL) is an asset reconstruction company while India Debt Resolution Company Ltd (IDRCL) provides debt management services to NARCL. Both entities are backed by the Government of India. The proposed transaction involves the acquisition of a majority of equity share capital of the Srei Infrastructure Finance (SIFL) by NARCL and IDRCL, according to a CCI notice. NARCL has submitted a resolution plan in relation to the corporate insolvency resolution process (CIRP) of SIFL and its wholly-owned subsidiary, SREI Equipment Finance Ltd (SEFL). Thereafter, NARCL's resolution plan was approved by the Committee of Creditors (CoC) of the SIFL on February 14, the notice said. The Competition Commission of I

Indian start-ups see apex tribunal's order against Google as a win

But fees charged by Google for app purchases remain a concern

NCLAT upholds Competition Commission's Rs 1,337 crore penalty on Google

The NCLAT bench comprising chairperson Justice Ashok Bhushan and member Alok Srivastava said that the CCI investigation was not in violation of the principles of natural justice

Firms that didn't sign Google contracts became extinct, says CCI

Google's alleged anti-competitive agreements prohibited original equipment manufacturers from producing a version of the OS that had not been approved as Android-compatible by Google

Govt invites applications for 17 posts at CCI on deputation basis

The government has invited applications for 17 posts, including for Additional Director General and Deputy Director General, at the Competition Commission of India (CCI) on a deputation basis. The CCI, which comes under the Ministry of Corporate Affairs (MCA), keeps a tab on anti-competitive practices in the marketplace and also works towards promoting fair trade practices. Applications have been sought for the posts of Additional Director General, Joint Director General and Deputy Director General, among others, according to a notice. Applicants must be employees of central or state governments, government companies or autonomous bodies or regulatory authorities or universities or judicial institutions of central/ state governments. The appointment will be made on deputation on a foreign service terms basis initially for a period of three years, which can be extended for a period not exceeding seven years. "Applications in the prescribed proforma, together with all necessary ...

Air India has 'enormous' potential, efforts on to make it intl player: CEO

Air India has "enormous" potential and efforts are on to make the group a significant international player, its CEO Campbell Wilson said on Monday. Addressing the media virtually, Wilson further said the process of integration of Vistara with Air India is underway and is now awaiting approval from the Competition Commission of India (CCI). The integration of Air India Express and AIX Connect, earlier known as AirAsia India, is also underway. Air India has enormous potential and unprecedented opportunities. The group is working on becoming a significant international player, he said. On February 14, Air India announced placing an order for 470 planes, including 70 wide-body aircraft. Wilson said the funding would be through a combination of various sources. The Tata Group took over Air India in January last year.

Government invites applications for CCI Chairperson post till March 9

The government on Thursday invited applications for the post of Chairperson of the Competition Commission of India (CCI). Since October 25, the post has been lying vacant. According to a public notice issued by the corporate affairs ministry, the applicants should have professional experience of at least 15 years in international trade, economics, business, commerce, law finance, accountancy, management, industry, public affairs or competition matters, The person, if selected, can hold the office for a term of five years from the date of joining the post or till the age of 65 years, whichever is earlier. The monthly salary will be Rs 4.50 lakh. Applications for the post can be submitted till March 9. "The candidates who had applied earlier in response to the previous advertisement/vacancy circular dated 26th July, 2022 inviting applications for the post of Chairperson need not apply," the notice said. Sangeeta Verma, who is a CCI Member, has been the acting Chairperson since Octo