Page 6 - Competition Commission Of India

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

Temasek's arm Ramon gets CCI's approval to acquire stake in Speed JVco

The Competition Commission of India (CCI) on Tuesday said it has cleared Ramon Investments Pte's, an arm of Temasek Holdings, a proposal to acquire a stake in Speed JVco. Singapore-headquartered Temasek is an investment company. As of March 2024, the sovereign wealth fund owns a Singapore Dollar (SGD) 389 billion portfolio of assets. "The proposed combination involves the acquisition of a certain stake of the target (Speed JVco) by the acquirer (Ramon Investments Pte Ltd)," CCI said in a release. Speed JVco, including its affiliates, provides visa outsourcing and related services -- offering visa application and consular services to governments and diplomatic missions. The company also provides travel-related services, including facilitation of travel itineraries and hotel reservations, facilitation of travel insurance and other ancillary services, such as providing sim cards and forex, among others. "Commission approves the acquisition of certain stake of Speed JVco S.a r.l. (Tar

SC orders to transfer Amazon, Flipkart petitions on CCI probe to K'taka HC

The apex court was hearing the plea filed by the CCI, seeking the transfer of 24 writ petitions filed in various high courts challenging its probe into alleged anti-competitive practices

CCI approves US-based KKR's proposal to acquire stake in Rebel Foods

The Competition Commission of India (CCI) on Monday approved global investment firm KKR's proposal to acquire a stake in home-grown food-tech company Rebel Foods. US-based KKR (Kohlberg Kravis Roberts & Co), through its affiliate -- Royce Asia Holdings II Pte, is acquiring a stake in Rebel Foods, which owns Faasos, Behrouz Biryani, Oven Story and other cloud kitchens. "By way of the proposed transaction, Royce proposes to acquire certain equity shares and compulsorily convertible preference shares of Rebel Foods (on a fully diluted basis) by way of a secondary purchase," CCI said. Founded in 2011 by Jaydeep Barman and Kallol Banerjee, Mumbai-based Rebel Foods has 450 kitchens across 10 countries, including India, Indonesia, the UK and the United Arab Emirates. "There are no horizontal overlaps and or vertical/ complementary links between the activities of the parties (Royce Asia Holdings II and Rebel Foods) and their respective groups/ affiliates, in India. "Accordingly, absent ..

SC denies special treatment to CCI, refuses to transfer all probe petitions

"Only because some litigant is to be given special treatment, bypass the rules, we can't place it directly before the division bench," the Supreme Court said

Ex-ante norms have taken into account India's startup ecosystem: CCI chief

The draft Digital Competition Bill has proposed ex-ante (preventative) regulations requiring digital companies to notify the CCI that they fulfil the criteria to qualify as SSDEs

Samsung challenges CCI search and seizure, seeks to halt anti-trust probe

Tech giant Samsung has challenged the legality of a 2022 CCI search and seizure, claiming the cloning of its employees' phones and data was illegal

Abu Dhabi's ADNOC gets CCI clearance to acquire Covestro for $16.4 bn

Fair trade regulator CCI on Tuesday said it has approved Abu Dhabi National Oil Company's (ADNOC) proposal to acquire Covestro for USD 16.4 billion. Abu Dhabi's state-owned oil firm ADNOC is an energy and petrochemicals group. "The proposed transaction relates to the acquisition of up to 100 per cent of the share capital of Covestro AG by ADNOC PJSC, ADNOC International Ltd and ADNOC International Germany Holding AG (ADNOC Germany) by way of an all-cash voluntary public takeover offer to all Covestro shareholders. "Upon closing of the public takeover, ADNOC Germany will additionally subscribe to 1.89 crore new shares in Covestro, corresponding to 10 per cent of Covestro's current share capital, by means of a capital increase against cash consideration with the exclusion of subscription rights of any remaining minority shareholders of Covestro," the Competition Commission of India (CCI) said in a release. The company runs its India operations through Covestro (India) Pvt Ltd. Coves

Why antitrust body CCI has moved Supreme Court against Amazon, Flipkart

The CCI has moved the Supreme Court to expedite the resolution of 24 court cases pending against Amazon and Flipkart, asserting that they were intended to derail its probe

CCI approves deal involving GMR Infra Enterprises, Abu Dhabi-based trust

The Competition Commission of India (CCI) on Tuesday approved a proposed transaction involving GMR Infra Enterprises Pvt Ltd and a trust of the Abu Dhabi Investment Authority. The proposed combination involves subscription to unlisted and unrated optionally convertible debentures of GMR Infra Enterprises by Platinum Stone A 2014 Trust (acting through its trustee Platinum Rock B 2014 RSC Ltd), according to a release. The Abu Dhabi Investment Authority is the sole beneficiary of Platinumb Stone. GMR Infra Enterprises Pvt Ltd will acquire a cumulative of approximately 9 per cent stake on a fully diluted basis of GMR Airports Ltd (GAL) from its promoter -- GMR Enterprises Pvt Ltd (GEPL). The shareholding of GAL held by GMR Infra Enterprises will be pledged in favour of the trust with a view to secure the debenture subscription amount, the release said. The Competition Commission of India (CCI) has given its nod for the deal. In October, GMR Group said it has secured Rs 6,300 crore de

Mumbai court slaps contempt notice on Google CEO Sundar Pichai; here's why

In its defence, YouTube cited immunity under the Information Technology Act, arguing that defamation does not qualify as content that can be blocked under Section 69-A of the Act

CII body calls for expansion of PLI for medical devices to more products

CII's medtech group to ask govt for strict policy on import of refurbished devices, incentives in R&D, and enhanced rebate on export duties

CCI orders probe against Google on complaint by gaming company Winzo

In its order, the CCI found Google to be prima facie in violation of antitrust provisions of the Competition Act due to the abuse of dominant position

Alphabet arm gets CCI's clearance to acquire stake in Walmart's Flipkart

The Competition Commission on Tuesday granted approval to Alphabet's arm Shoreline International Holdings LLC to acquire a stake in Walmart group firm Flipkart. Shoreline International Holding is a wholly-owned subsidiary of Google's parent firm Alphabet Inc. It is a holding company and does not own or operate any Google products or services. "The proposed transaction comprises an investment through subscription of shares of Flipkart Pvt Ltd (Target) by Shoreline International Holdings LLC (Acquirer) and an arrangement between an affiliate of the acquirer and the target's subsidiary for the provision of certain services," the regulator said in a release. "Commission approves transaction involving subscription of shares of Flipkart Pvt Ltd by Shoreline, an Alphabet, Inc subsidiary," the regulator said in a post on X. Flipkart is a subsidiary of Walmart Inc and ultimately belongs to the Walmart Group. It is primarily engaged in the business of wholesale cash and carry of goods and ..