Page 5 - Competition Commission Of India

CCI clears merger of nine pharma entities with Sequent Scientific

The Competition Commission on Tuesday cleared the proposed amalgamation of nine entities with pharmaceutical firm Sequent Scientific Ltd (SSL). "The proposed combination involves a series of inter-connected steps carried out for the amalgamation of SRL, Viyash, Symed, Appcure, Vindhya Pharma, Vandana, Vindhya Organics, Geninn and SV Labs with SSL as the ultimate surviving entity," CCI (Competition Commission of India) said in a release. SSL offers active pharmaceutical ingredients (APIs), finished dosage formulations, and analytical services for the animal health sector. Sequent Research Ltd (SRL), a wholly-owned subsidiary of SSL, is a contract research organisation. Viyash is a pharmaceutical company and through its subsidiaries is primarily engaged in the development, manufacture and sale of APIs and intermediates for human healthcare in India. Symed Labs, Appcure Labs, Vindhya Pharma (India) and Vandana Life Sciences are wholly-owned subsidiaries of Viyash while S V Labs is a

French firm Roquette seeks CCI's clearance for IFF Pharma's biz acquisition

French plant-based ingredient producer Roquette Frres has sought fair trade regulator CCI's approval for the proposed acquisition of the pharma solutions business and certain product lines of International Flavors & Fragrances Inc (IFF). Roquette Frres S.A. is a family-owned French firm active in the production and sale of plant-based ingredients, excipients, and plant proteins for various applications. It has operations in India through several subsidiaries, like Crest Cellulose, Sethness-Roquette India and Roquette India. "The proposed transaction refers to the proposed acquisition by Roquette of the pharma solutions business and certain product lines of the Nourish business (ie, collectively the target business) of IFF by way of Roquette's purchase of equity interest in certain IFF entities that collectively house / are proposed to house the target business," said a notice filed with the CCI on January 16. The target business primarily comprises the operations, and activities ..

CCI reviews feedback on proposed changes to penalty recovery norms

Competition Commission of India (CCI) is reviewing the feedback received on the proposed amendments of norms related to the manner of recovery of monetary penalty. In November 2024, the watchdog had put out for public consultations the draft amendments to the regulations pertaining to the manner of recovery of monetary penalty. CCI Chairperson Ravneet Kaur has said the proposed amendments aim to strengthen the regulatory framework governing the recovery of monetary penalties, enhancing procedural clarity and efficiency. "We are currently reviewing the feedback provided by the stakeholders whereafter the proposed amendments would be gazetted," she said in a message in the regulator's latest quarterly newsletter. According to the chairperson, the regulator has identified areas where these regulations can be improved to better align with contemporary requirements and streamline the recovery process. The proposed changes are aimed at providing greater legal certainty to enterprises an

CCI's ruling can force rollback of features, hurt business, warns Meta

The CCI has imposed a fine of $24.5 million and a five-year ban on the data sharing practice in India, the biggest market for Meta where it has more than 350 million Facebook users

CCI approves Ashoka Buildcon's 34% stake buy in Ashoka Concessions

The Competition Commission of India (CCI) on Tuesday approved Ashoka Buildcon's proposal to acquire remaining 34 per cent stake in Ashoka Concessions Ltd. Currently, Ashoka Buildcon Ltd (ABL) owns a 66 per cent holding in Ashoka Concessions Ltd (ACL). After the CCI's approval, ACL will become a wholly-owned subsidiary of Ashoka Buildcon. The proposed combination relates to the acquisition of 34 per cent equity shareholding of Ashoka Concessions by Ashoka Buildcon and certain convertible instruments of ACL by ABL and Viva Highways, CCI said. Viva Highways is a subsidiary of Ashoka Buildcon. "CCI approves the proposed acquisition of 34 per cent equity shareholding of Ashoka Concessions by Ashoka Buildcon and certain convertible instruments of ACL by ABL and Viva Highways (Viva); and 26 per cent shareholding of Jaora Nayagaon Toll Road Company (JN) by Viva," CCI said in a post on X on Tuesday. In October 2024, ABL said it will acquire 100 per cent of the investments of investors in AC

Carlyle gets CCI nod to acquire 68.9% stake in Roop Automotives Ltd

Fair trade regulator CCI on Tuesday approved US-based global investment firm Carlyle's proposal to acquire a 68.9 per cent stake in Roop Automotives Ltd. "The proposed combination involves certain inter-connected steps resulting in inter alia securities swap between HIL Shareholder and RAL, and the acquisition of up to 68.9 per cent shareholding in RAL by Investor," the regulator said in a release. CA Carob Investments (investor) is a Mauritius-based special-purpose vehicle owned and controlled by affiliates of the Carlyle Group Inc (Carlyle). As of September 30, 2024, Carlyle has USD 447 billion of assets under management. Roop Automotives Ltd (RAL) and Highway Industries Ltd (HIL) are engaged in the manufacturing and selling of auto components. "Commission approves the proposed combination involving inter-connected steps resulting in inter alia the acquisition of up to 68.9 per cent shareholding in Roop Automotives Ltd by CA Carob Investments (Investor)," CCI said. In another ..

CCI found Pernod pushed retailers to promote brand, document shows

Pernod is contesting a $250 million India tax demand for allegedly undervaluing imports and also faces an investigation into violations of New Delhi city's liquor policy

CCI raided Pernod's office over retailer collusion to promote whisky brand

The case was triggered by a 2022 complaint by Indian rival Radico Khaitan, which accused Pernod of colluding with retailers not to stock a Radico whisky brand

SC transfers all cases against Flipkart, Amazon to Karnataka HC on CCI plea

The order came on a plea filed by the Competition Commission of India, which sought to consolidate all 24 cases pending across various high courts against Amazon and Flipkart

CCI will focus on leveraging tech for fair competition: Chairperson Kaur

CCI will focus on strengthening enforcement, enhancing collaborations and leveraging technology to ensure fair competition in the country, its chief Ravneet Kaur has said. Competition Commission of India (CCI), which has the mandate to foster fair competition as well as curb anti-competitive practices, has been working on understanding the dynamic interplay between traditional market practices and the rapidly evolving digital economy. "There is an imperative need for a nimble, proactive regulatory approach that adapts to emerging market challenges, particularly in sectors driven by technology and innovation," Kaur told PTI in a recent interview. Various amendments to the Competition Act were made in 2023 leading to introduction of new mechanisms, including settlement, commitment and deal value thresholds. The CCI Chairperson emphasised that the endeavour is to strike a balance between effective oversight and a simplified, market-friendly regulatory regime. "Going forward, our focu

CCI dismisses allegations of 'abuse of dominance' against Coal India

Fair trade regulator CCI has dismissed allegations of abuse of dominance against Coal India concerning its e-auction scheme introduced in December 2022, ruling that the state-owned company had not violated norms. Coal India Ltd (CIL), a Maharatna public sector undertaking under the Ministry of Coal, is the single-largest coal producing company in the world. "In view of the... facts and circumstances of the present matter, the commission is of the view that there is no prima-facie case of contravention of provisions of the act warranting an investigation into the matter," Competition Commission of India (CCI) said in a order on December 30. The case, filed by a Kolkata-based individual, claimed that Coal India's 2022 e-auction scheme replaced its earlier spot e-auction scheme 2007 with terms allegedly unfair to buyers, the order said. The individual argued that the scheme's conditions, such as requiring advance bid security and forfeitures without reciprocal obligations on CIL, ...

CCI allows IFC, ADB, DEC to acquire stake in Fourth Partner Energy

Fair trade regulator CCI on Tuesday cleared the World Bank's IFC, Asian Development Bank (ADB) and German government's DEG proposal to acquire a stake in Fourth Partner Energy. IFC -- a member of the World Bank Group -- is the largest global development institution focused on the private sector in emerging markets. "Commission approves the acquisition of certain shareholding of Fourth Partner Energy Pvt Ltd jointly by International Finance Corporation, Asian Development Bank and DEG - Deutsche Investitions - und Entwicklungsgesellschaft mbH," the regulator said in a post on X. Fourth Partner Energy Ltd (FEPL) is India's leading renewable energy company focusing on building and financing renewable energy projects. In August, global impact investors IFC, ADB and DEG announced an investment of USD 275 million into India's leading renewable energy solutions platform FPEL. The consortium's investment will infuse capital to fund FPEL's business expansion plans which include a target ...

CCI seeks more info on anti-competitive allegations against qcom companies

The Competition Commission, which has received a complaint of anti-competitive practices against quick commerce companies, is waiting for more information on the allegations from the complainant before taking a decision on the matter. The complaint was submitted by the All India Consumer Products Distributors Federation (AICPDF) to the the commerce and industry ministry. Competition Commission of India (CCI) Chairperson Ravneet Kaur said a complaint against quick commerce firms alleging that they indulged in predatory pricing and other anti-competitive practices was forwarded by Department for Promotion of Industry and Internal Trade (DPIIT) to the regulator. "CCI has asked the informant to furnish details and information as per the requirements of the Competition Act. Reminders have also been sent to the informant to furnish the requisite information," Kaur told PTI in a recent interview. The watchdog first assesses a complaint to ascertain whether there are prima-facie violation

CCI conducts market study on renewable energy space across Brics nations

Fair trade watchdog CCI is conducting a market study to understand the competitions issues in the renewable energy space across BRICS nations. The study is being conducted under the BRICS framework by India, Competition Commission of India (CCI) Chairperson Ravneet Kaur said. Currently, the regulator is also doing a market study on Artificial Intelligence (AI) and competition. "CCI has started the process for the study of competition issues in the renewable energy space across the BRICS countries," the chairperson told PTI in an interview. Initially, the grouping comprised Brazil, Russia, India, China, and later South Africa joined it. A few more countries have also joined the bloc. Kaur also said the commission does explore areas for conducting market studies depending upon the market dynamics and enforcement priorities.

AI has potential to aid fair competition for sustainable growth: CCI chief

Artificial Intelligence (AI) has the potential to aid cartelisation by automating collusive behaviour through predictive algorithms, Competition Commission chief Ravneet Kaur has said, asserting that the watchdog is focused on developing ecosystems that ensure algorithmic transparency and accountability while promoting innovation. The Competition Commission of India (CCI), which works to curb unfair business practices in the market place, has commenced the study on Artificial Intelligence (AI) and competition that is expected to be completed by mid-2025. The study will look at various elements, including AI in the area of logistics and algorithms in general. In an interview to PTI, Kaur said mere use of algorithms cannot be anti-competitive but in case the algorithms are manipulated, then that is a competition issue. "AI has the potential to aid cartelisation by automating collusive behaviour through predictive algorithms... our focus is on developing ecosystems that ensure ...

JSW Energy inks deal to acquire O2 Power at $1.47 bn enterprise value

JSW Energy said the latest acquisition will increase the company's locked-in generation capacity to 24,708 MW, from the current 20,012 MW

CCI to intervene selectively, considering sector-specific dynamics

The annual report noted that the rapid rise of digital markets based on new business models have emerged as challenges for the regulator

Murugappa's Mavco and Avenue Capital gets CCI nod to acquire MHM Holding

The Competition Commission of India (CCI) has approved Murugappa family affiliate Mavco Investments and Avenue Capital Group's proposal to acquire Germany-based MHM Holding. MHM Holding is the parent company of Hubergroup, a global player in the printing ink and chemicals industry. It has global footprint in growth markets such as Asia and India. The New York-headquartered Avenue Capital Group through its arm, Avenue India Emergence Pte, while Mavco Investments, a private investment vehicle belonging to select members of the Murugappa family, is acquiring a stake in MHM Holding. "Pursuant to the share purchase agreement (SPA) executed between MHM Beteiligungsgesellschaft mbH and MHM Vermogensverwaltungs GmbH (the sellers), Avenue and Mavco had agreed to be severally responsible to acquire 100 per cent of the shares in MHM Holding GmbH (target) from the sellers," a notice submitted with the CCI said. Subsequently, Avenue and Mavco would incorporate a joint venture company (to be ...

Year in review: 5 important regulatory changes by Indian govt in 2024

Addressing diverse areas ranging from patent processes to frameworks for AI regulation, the Centre introduced several significant regulatory changes in 2024

CCI conducts surprise raids on liquor giants Pernod, AB InBev in Hyderabad

Liquor companies and retailers in Telangana have been accused of entering into cartel-like agreements to manipulate prices and market shares