Page 12 - Competition Commission Of India

S Korea's Shinhan Bank gets CCI nod to acquire 11% stake in HDFC Credila

The Competition Commission of India (CCI) has cleared South Korea-based Shinhan Bank's proposed acquisition of an 11 per cent stake in HDFC Credila Financial Services. Part of the Shinhan Financial Group, Shinhan Bank Co Ltd is a multinational bank, which commenced operations in India in 1996. "The proposed combination relates to the acquisition of up to approximately 11 per cent shareholding by Shinhan Bank in HDFC Credila by way of subscription to shares of HDFC Credila," CCI said in a release on Tuesday. HDFC Credila Financial Services, is a Reserve Bank of India (RBI)-registered non-deposit taking non-banking financial company. It is primarily engaged in the business of providing education loans in India and overseas. In another release, the competition watchdog granted its approval to Matrix Pharma to acquire 100 per cent stake in Tianish Laboratories. The acquisition will be funded in part by an investment proposed to be made by the investors in optionally convertible debent

Shinhan Bank receives CCI approval to acquire 11% stake in HDFC Credila

The Competition Commission of India (CCI) has cleared South Korea-based Shinhan Bank's proposed acquisition of an 11 per cent stake in HDFC Credila Financial Services. Part of the Shinhan Financial Group, Shinhan Bank Co Ltd is a multinational bank, which commenced operations in India in 1996. "The proposed combination relates to the acquisition of up to approximately 11 per cent shareholding by Shinhan Bank in HDFC Credila by way of subscription to shares of HDFC Credila," CCI said in a release on Tuesday. HDFC Credila Financial Services, is a Reserve Bank of India (RBI)-registered non-deposit taking non-banking financial company. It is primarily engaged in the business of providing education loans in India and overseas. In another release, the competition watchdog granted its approval to Matrix Pharma to acquire 100 per cent stake in Tianish Laboratories. The acquisition will be funded in part by an investment proposed to be made by the investors in optionally convertible debent

ITC Hotel Ltd's demerger plan gets approval from competition watchdog

The Competition Commission of India (CCI) on Tuesday approved the demerger of the hotel business of diversified entity ITC Ltd into a separate entity. After the completion of the demerger, shares of ITC Hotels Ltd, a new entity, will be listed on the stock exchanges. The proposed combination relates to the demerger of the demerged undertaking to ITC's wholly-owned newly incorporated subsidiary, ITC Hotels. Following the demerger, shares of ITC Hotels will be listed. ITC will continue to hold a 40 per cent stake, while the remaining 60 per cent will be held by the conglomerate's shareholders, according to a notice on the CCI website. ITC has diversified businesses in India spanning from FMCG, hotels, paperboards, paper and packaging, and agri-business. The proposed combination is only an internal restructuring exercise which will not result in any change in market dynamics, ITC said in the notice. "Commission approves demerger of Hotels Business of ITC Ltd to its wholly-owned ...

Reliance, Disney seek antitrust nod with cricket rights assurance: Report

The deal is set to reshape India's $28 billion media and entertainment market, where the Reliance-Disney combo will compete with Netflix, Amazon Prime, Zee Entertainment and Sony

CCI in process of notifying merger control norms, says Ravneet Kaur

Kaur said that CCI is strengthening its international outreach to exchange best practices and enhance capabilities in a globalised economy

Play Store billing case: NCLAT seeks response from Google and CCI

The NCLAT has told both the parties to submit their replies before the next hearing on May 24

E-commerce majors Amazon, Flipkart flouted antitrust laws: CCI probe

Competition regulator to soon share report with firms

CCI checks if Pernod colluded with New Delhi retailers to boost mkt share

Competition Commission of India is reviewing the case and can order a full investigation, or dismiss the accusations if not borne out, said a source

CCI set to study impact of AI on competition, efficiency and innovation

"The transformative capabilities of AI have significant pro-competitive potential; at the same time, there may be competition concerns emanating from the use of AI," the CCI stated

AI can drive efficiency, raises mkt concentration concerns: CCI chief Kaur

Artificial intelligence and machine learning can drive efficiency and innovation but also raise concerns related to market concentration and potential anti-competitive behaviour, according to CCI chief Ravneet Kaur. The watchdog CCI, which has the mandate to curb anti-competitive ways and foster fair competition, will soon commission a study to look at all aspects of artificial intelligence (AI). The request for proposal (RFP) for inviting agencies to conduct the study is expected to be issued in the coming weeks. In a recent interview with PTI, the Competition Commission of India (CCI) Chairperson Ravneet Kaur said the study will also look at how AI can also be used by the regulator. "The rise of AI and Machine Learning (ML) presents both opportunities and challenges in the context of competition law. "These technologies can drive efficiency, personalisation and innovation but also raise concerns related to market concentration and potential anti-competitive behaviour," she ...

Congress' manifesto takes up competition issues in retail, media, ports

The party said it aims to create a level playing field for all businesses

Recently notified regulations applicable to cases under probe: CCI chief

The recently notified competition regulations on settlement, commitment, leniency plus and global turnover will be applicable to cases that are under investigation by the Competition Commission, according to the watchdog's chief Ravneet Kaur. In an interview with PTI, she also said the new regulations related to settlement and commitment framework will help in providing quick market correction. Last year, Parliament cleared various amendments to the Competition Act, and in recent times, the Competition Commission of India (CCI) has notified the regulations pertaining to the changes. After carrying out detailed public consultations, the watchdog has notified the regulations related to settlement, commitment, leniency plus, and turnover. About the leniency plus regime, the CCI Chairperson said it will act as an incentive for an entity to provide details about the existence of a cartel and stressed the importance of getting information about cartelisation to establish the existence of

CCI conducting enquiries against some fintech entities: Ravneet Kaur

Fair trade watchdog CCI is conducting enquiries against some fintech entities to check whether their ways of leveraging technologies are impacting competition, its chief Ravneet Kaur said and asserted that the regulator is taking necessary action to ensure a competitive digital market. With a slew of amended regulations, key rulings against anti-competitive practices in the digital market and advocacy efforts, the CCI is strengthening its efforts to curb unfair business ways. In an interview to PTI, Competition Commission of India (CCI) Chairperson Ravneet Kaur said there is an increased sensitisation among entities about the competition law and stressed the focus is on "striking the right balance between regulation and freedom". According to her, the regulator is focused on big tech companies as well as various other sectors, including fintech and online intermediary service providers. "The CCI is conducting enquiries into some entities in the fintech sector. We are looking into h

New competition law faces a litmus test in Google Play billing case

India's competition law was originally designed for brick-and-mortar companies. It was not in tune with the digital revolution

CCI denies interim order restricting Google from charging its service fee

Google had argued that restricting it from charging a fee in the interim would virtually mean that the tech giant would have to provide its Playstore for free to developers in India

Competition Law 2.0 marks a new era for India's anti-trust regulations

The Competition Commission of India investigates Google Play Store over unfair service fees, tests new provisions of the Competition Amendment Act

Some public enterprises may be kept out of digital competition law

"It is an overarching section. Akin to the existing Law, Government has effectively kept room to make exemptions in a number of situations," said Sagardeep Rathi, Partner, Khaitan & Co

CCI terms Google's Users Choice Billing system unfair, orders probe

CCI has asked the director general to complete the investigation and submit a report within 60 days

The Digital Competition Law: Big Tech firms opposed to ex-ante norms

Proposed Bill requires digital companies to notify Competition Commission of India that it fulfills criteria to qualify as a Systemically Significant Digital Enterprises based on criteria set in Bill

The Digital Competition Bill: Onus on Big Tech to declare fair deal

The CCI will have the power to levy a fine of up to 1 per cent of the global turnover of the online entity in case it fails to make this declaration, sources said