Page 8 - Competition Commission Of India

TVS Holdings, 2 others get CCI clearance to buy stakes in Home Credit India

The Competition Commission of India (CCI) on Tuesday approved the proposed acquisition of stakes in Home Credit India Finance by TVS Holdings, STPL, Premji Invest Group as well as other related transactions. The deal includes acquisition of 80.74 per cent, 8.47 per cent and 10.79 per cent of the issued and paid-up share capital of Home Credit by each of TVS Holdings Ltd (TVSH), STPL Trading and Services Pvt Ltd (STPL), and PI Opportunities Fund-II (PIOF), respectively. The regulator also granted its nod for the acquisition of 2.6 per cent, 4.3 per cent, 2.7 per cent, and 90.4 per cent of the equity share capital of STPL by K Gopala Desikan, Anuraag Agarwal, V Ganesh, and GWCF, respectively. The proposed combination involves acquisition of 100 per cent of the issued and paid-up share capital of Home Credit India Finance Pvt Ltd (Home Credit) by TVSH, STPL, K Gopala Desikan, Anuraag Agarwal, V Ganesh, and GWC Family Fund Investments Pte Ltd (GWCF) (STPL Acquirers) and PIOF, CCI said i

CCI's M&A overhaul: Stricter scrutiny, faster approvals under new rules

Revised framework introduces deal value thresholds, streamlined timelines, and wider definition of control for enhanced regulatory oversight, writes Dhanendra Kumar

Google's plea against CCI order in android mobile case mentioned in SC

Google LLC on Thursday told the Supreme Court that the arguments in the case related to the tech giant's alleged anti-competitive practices in the Android mobile device matter may take five-six days. On March 29 last year, the National Company Law Appellate Tribunal (NCLAT) had handed out a mixed verdict on Google's alleged anti-competitive practices in the case -- upholding a fine of Rs 1,338 crore but scrapping conditions like allowing hosting of third-party app stores on its Play Store. The top court is seized of cross-pleas of Google and the Competition Commission of India (CCI) challenging a verdict of an appellate tribunal in a case related to the tech giant's alleged anti-competitive practices in the Android mobile device matter. A bench comprising Chief Justice D Y Chandrachud and justices JB Pardiwala and Manoj Misra has already listed the cross-pleas for hearing on Thursday. The pleas, however, are unlikely to reach for hearing during the day as the bench is seized of ...

CCI can appoint agencies to monitor implementation of its orders

Section 48A and 48B relate to commitment and settlement, respectively. Section 31 refers to orders on mergers and acquisitions

Revised norms: CCI can appoint agencies to monitor implementation of orders

Competition Commission can now appoint agencies to monitor the implementation of its orders, with the notification of amended regulations. The move also comes amid instances of some entities flagging concerns about non-compliance with certain orders of the regulator, which works to ensure fair competition in the market place. The Competition Commission of India (General) Regulations, 2024 were notified on Tuesday. Now, agencies can be appointed by CCI to monitor the implementation of its orders. The agencies can be accounting firms, management consultancy or any other professional organisation or chartered accountants, company secretaries or cost accountants. "Where the Commission is of the opinion that the implementation of its orders passed under Section 31 or Section 48A or Section 48B or any other provisions of the Act and regulations made thereunder, needs monitoring, it may appoint agencies to oversee such implementation, on such terms and conditions as deemed fit by the ...

CCI finds Samsung, Xiaomi colluding with Amazon, Flipkart: Report

Antitrust investigations conducted by the Competition Commission of India (CCI) have found that Amazon and Flipkart violated local competition laws by giving preference to select sellers

CAIT demands immediate enforcement of e-comm laws on Amazon and Flipkart

CCI launched its investigation into Amazon and Flipkart in 2020 for allegedly pushing select sellers to the top of search results, while sidelining others

Trade groups call for Amazon, Flipkart suspension over antitrust breaches

Indian antitrust investigation reports have found Amazon and Flipkart violated local competition laws by giving preference to select sellers and priority to certain listings, hurting competition

CCI investigation finds Amazon, Walmart's Flipkart breached antitrust laws

The Competition Commission of India (CCI) in 2020 ordered an investigation into Amazon and Flipkart for allegedly promoting certain sellers with which they had business arrangements

CCI gives nod to Dixon Technologies to acquire stake in Aditya Infotech

Fair trade regulator CCI on Tuesday granted its approval to Dixon Technologies' proposal to acquire a stake in Aditya Infotech Ltd. Dixon Technologies (India) Ltd is involved in the business of providing Electronic Manufacturing Services (EMS). It provides EMS for lighting solutions, television, washing machines, security systems, wearables and hearables, among others. The regulator also cleared the acquisition of a stake in AIL Dixon Technologies by Aditya Infotech Ltd (AIL). "Commission approves the subscription of certain shares of Aditya Infotech Ltd (AIL) by Dixon Technologies (India) Ltd and the acquisition of certain shares of AIL Dixon Technologies Pvt Ltd by AIL," CCI said in a post on X. AIL Dixon Technologies is a joint venture (JV) company between AIL and Dixon Technologies India. It is engaged in manufacturing and assembling of ESS. During FY24, the JV recorded a revenue of Rs 632.62 crore. Aditya Infotech is engaged in the business of sourcing, distributing and marke

Digital firms with Rs 500 crore turnover must seek CCI approval for M&As

Any transaction where the "deal value" exceeds Rs 2,000 crore would be notifiable for the CCI's approval, provided that the target entity has "substantial business operations" in India

CCI clears proposed merger of Tata Motors Finance into Tata Capital

The Competition Commission of India (CCI) on Tuesday cleared the proposed merger of Tata Motors Finance Ltd into Tata Capital Ltd. Tata Capital Ltd (TCL) is a subsidiary of Tata Sons and is operating as a non-banking financial company Investment and Credit Company (NBFC-ICC). TCL is engaged primarily in the business of lending, leasing, factoring, financing and distributing financial products. "CCI approves the proposed merger of Tata Motors Finance Ltd with and into Tata Capital Ltd," the regulator said in a post on X. Tata Motors Finance Ltd (TMFL) operates as an NBFC-ICC and is engaged in the business of granting loans and facilities for financing the purchase of new vehicles manufactured by Tata Motors and its group companies. TMFL also refinances existing vehicle finance loans. It is a step-down wholly-owned subsidiary of Tata Motors Ltd. In June this year, Tata Motors, TCL and TMFL's board approved a merger of TMFL with TCL through an NCLT scheme of arrangement. As ...

NIIF gets CCI's approval to acquire additional stake in Ather Energy

The Competition Commission of India has approved the National Investment and Infrastructure Fund's (NIIF) proposal to acquire an additional stake in Ather Energy. The deal was cleared by the competition watchdog under the green channel route. "The acquirer (India-Japan Fund) proposes to acquire certain Series G Compulsorily Convertible Preference Shares of Ather," the regulator said in an order. India-Japan Fund (IJF) is a fund managed by NIIF. The fund focuses on investing in environmental sustainability, and low-carbon emission strategies and promoting investments by Japanese companies in India. The transaction will help IJF further its goals by creating value for the broader market for electric two-wheelers, clean mobility transport solutions, and technology-led last-mile transport vehicles, it added. Ather is engaged in the business of designing and developing electric scooters, while the India-Japan Fund (IJF) is a Sebi-registered alternative investment fund. It focuses on .

CCI gives nod to PE firm General Atlantic to acquire Actis Holdings

The Competition Commission of India (CCI) on Tuesday cleared US-based private equity firm General Atlantic's proposal to acquire a 100 per cent stake in Actis Holdings. Actis Holdings S. r.l is a sustainable infrastructure investor, investing globally in, energy infrastructure, digital infrastructure, real estate and private equity. "CCI approves the proposed acquisition of 100% shareholding of Actis Holdings S. r.l. by GAP Arthur Holdco, LP," the fair trade regulator said in a post on X. GAP Arthur Holdco LP is an affiliate of General Atlantic. In January this year, General Atlantic (GA) and Actis announced that the firms have entered into a definitive agreement under which GA will acquire Actis, creating a diversified, global investment platform with USD 96 billion in combined assets under management (AUM). Under the terms of the agreement, Actis will become the sustainable infrastructure arm within General Atlantic's global investment platform. In a separate post on X, CCI app

Aiming to enhance efficiency, CCI proposes changes to recruitment rules

The Competition Commission of India has proposed changes to the recruitment rules, aiming to support the regulator's professional and administrative capacities in light of its growing obligations. These modifications are a vital step towards improving the CCI's effectiveness, given its enlarged mandate. The draft amendments pertain to the CCI (Salary, Allowances, Other Terms and Conditions of Service of the Secretary and Officers and Other Employees of the Commission and the number of such Officers and Other Employees) rules. These changes necessitate the recruitment of additional officers at the feeder level to ensure efficient and timely bound manner. In a consultation paper released by CCI, the regulator proposed "introduction of direct recruitment at level-10 and level-8 of the 7th Central Pay Commission (CPC) for professional and administrative stream officers, respectively". "For IT stream, it is proposed to have direct recruitment at Level-10 of 7th CPC", it added. The ...

Proposed digital antitrust law likely to cover 'killer acquisitions'

Killer acquisitions are deals where a dominant company acquires a smaller innovative firm to prevent competition

CCI warns staff over unauthorised media contacts, information disclosure

CCI is investigating high-profile companies and reviewing deals involving the likes of Amazon, Walmart's Flipkart, Reliance, Walt Disney and liquor maker Pernod Ricard

Why institutions like CCI remained passive as Adani built monopolies: Cong

The Congress on Wednesday questioned the Competition Commission of India over its approval of all acquisitions by the Adani Group, asking why such institutions "remained passive" as the conglomerate built "monopolies" in critical infrastructure sectors, raising prices at consumers' expense. Congress general secretary in-charge communications Jairam Ramesh said the Competition Commission of India (CCI) has reportedly raised concerns that the proposed Reliance-Disney merger could stifle competition. "It is a good time to reflect on how the CCI should have also had the courage to address how the non-biological PM's other favourite business conglomerate is acquiring companies and reducing competition across various industries," he said in a post on X. "The CCI is legally required to approve mergers and acquisitions that exceed a certain threshold. Yet, all acquisitions by the Adani Group have been approved, even as the company builds monopolies in sectors like ports, airports, power, an

CCI warns Disney, Reliance media merger could harm competition: Report

Antitrust experts had warned the merger, announced in February, could face intense scrutiny, especially on the sporting rights issue

CCI approves Rs 4,630 cr deal between Warburg Pincus, Shriram Housing

The Competition Commission of India (CCI) on Tuesday approved the proposed Rs 4,630-crore deal, wherein private equity major Warburg Pincus will acquire Shriram Finance's arm Shriram Housing Finance. "The proposed combination envisages inter alia the acquisition of shareholding in Shriram Housing Finance Ltd by Mango Crest Investment Ltd," CCI said in a release. Mango Crest Investment Ltd undertakes investment holding activities. It is an affiliate of US-based Warburg Pincus. Shriram Housing Finance Ltd is a housing finance company registered with the National Housing Bank. In May this year, financial services firm Shriram Finance announced the sale of its housing finance arm to private equity major Warburg Pincus for Rs 4,630 crore to focus on the vehicle finance and small business lending. Under the deal, SHF will be acquired by Warburg Pincus through its affiliate Mango Crest Investment Ltd from all the sellers. The proposed transaction is valued at Rs 4,630 crore for equity a