Page 9 - Competition Commission Of India

Accenture gets CCI's nod to acquire stakes in Vodafone's arm VSOL

The Competition Commission of India on Wednesday cleared IT and consulting firm Accenture's acquisition of a stake in Vodafone Shared Operations. Vodafone Shared Operations Ltd (VSOL) is engaged in the provision of shared services to the Vodafone Group and its network of partner telecommunications companies. VSOL is a part of Vodafone Group Plc. "CCI approves the proposed combination involving the acquisition of shares of Vodafone Shared Operations by Accenture," the regulator said in a post on X. In November last year, Vodafone Group Plc announced a strategic partnership with Accenture to commercialise Vodafone's shared operations. Further, the Dublin-based IT firm also said that it will invest 150 million euros for a minority stake in the partnership. The new unit will utilise Accenture's world-class technology and transformation services, such as its digital solutions and platforms, and deep AI expertise. In another post on X, the competition watchdog also approved the acquisi

CCI orders unusual recall of reports on Apple antitrust investigation

Among those now asked for the return of the reports are Match and Indian startup group ADIF, which represents financial giant Paytm

CCI seeks Apple's reply on alleged violation of competition norms

Fair trade watchdog CCI has sought a reply from Apple on the investigation report which has found that the technology major allegedly violated competition norms with respect to its App Store, according to sources. The sources said the supplementary investigation report by the regulator's Director General (DG) has concluded that Apple allegedly abused its market dominance in the relevant market, violating various provisions of Section 4 of the competition law. In December 2021, Competition Commission of India (CCI) ordered a detailed probe against Apple after prima facie finding that the company abused its market dominance. The sources said the regulator was not satisfied with the initial report submitted by the DG and sought another probe on specific aspects. The supplementary investigation report was submitted to the CCI in June, they added. The watchdog has sent the non-confidential version of the report to Apple for its reply, the sources said and added that final hearings will

ADIF files complaint with CCI against Google for anti-competitive practices

The complaint outlined Google's dominant position and alleged abusive behaviour

CCI junks complaint against Indiabulls Housing Finance, 19 officials

Competition watchdog CCI has dismissed a complaint against Indiabulls Housing Finance and 19 officials, including MD and Chairman, alleging that the firm abused its position through misleading advertisements while offering loans against property at favourable interest rates. Dismissing the complaint, the regulator in an order on Monday said, "the Commission is of the view that prima facie there is no competition concern arising in the present matter under the provisions of Section 3 and Section 4 of the Act and therefore, the matter is directed to be closed forthwith". While Section 4 of the Competition Act deals with the abuse of dominant position, Section 3 pertains to anti-competition agreement. The Competition Commission of India (CCI) observed that the market appears to be competitive with the presence of large number of banks and non-banking financial companies and housing finance firms and thus, dominance of Indiabulls Housing is not established in the relevant market. The .

Android mobile device matter: SC to hear pleas of Google, CCI in Sept

The Supreme Court Thursday said it will hear in the second week of September the cross-pleas of Google and the Competition Commission of India 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 took up the appeals and said the pleas can be taken up later. Senior advocate Harish Salve, appearing for one of the parties, said the plea may be kept for final disposal later. The bench then said the cross-pleas can be listed for final disposal in the second week of September. Earlier, the bench had appointed lawyer Sameer Bansal as the nodal counsel for preparing common digital pleadings with the help of lawyers from both sides for easy adjudication of the matter. On March 29 last year, the National Company Law Appellate Tribunal (NCLAT) had handed out a mixed verdict on Google's alleged ...

Impact of Digital Competition Bill on India's homegrown startup ecosystem

The Draft Digital Competition Bill is part of a more significant endeavour by the government to address the above competition concerns in the digital and technology ecosystem

CCI to soon come out with changes to competition rules: Chairperson

Fair trade regulator CCI will shortly come out with changes to certain competition rules, including those related to green channel approvals for mergers and acquisitions. Speaking at a conference in the national capital, Competition Commission of India (CCI) Chairperson Ravneet Kaur on Friday said the regulator is focusing on advocacy efforts and capacity building. While mentioning about various activities being done by the CCI, she said, "We are going to shortly notify changes in competition rules". These include changes to rules pertaining to green channel approvals for mergers and acquisitions, and de minimas. De minimas relates to exemption thresholds for mergers and acquisitions that need clearance from the CCI. As part of boosting efforts to curb unfair business practices in the marketplace, amendments have also been made to the competition law. Kaur flagged dark patterns in the e-commerce space and algorithmic collusion. There are dark patterns and how they can influence

CCI rejects plea accusing Google of sharing contact data with Truecaller

The anti-trust regulator said that it found no evidence of violation of competition law in the case

No competition law violations found; complaint junked against Google India

The Competition Commission of India has dismissed a complaint against Google India alleging the tech giant abused its dominant position to favour Truecaller in the market for caller ID and spam protection apps, as it found no evidence of violation of competition law. While dismissing the complaint, the fair trade regulator said, "The Commission finds that no prima facie case of contravention of the provisions of Section 4 of the Act is made out against Google in the instant matter". Section 4 of the Competition Act, deals with the abuse of dominant position. The ruling came on a complaint filed by Rachna Khaira (informant) accusing Google of granting exclusive access to Truecaller to share private contact information while prohibiting other apps from doing the same. Further, she alleged that this practice has distorted the market and created a monopoly for Truecaller. The informant also alleged that Google's developer policy prohibits unauthorised disclosure of non-public contacts

WeWork gets CCI nod to sell stake in local unit, exit Indian market

Deal value not revealed; regulator expected to release detailed order is likely later

Godrej Group's internal restructuring gets Competition Commission's nod

The Competition Commission of India (CCI) on Tuesday said it has approved the proposed internal realignment within the Godrej group. "The proposed combination relates to realignment of interests, legal ownership, and management of various entities within the Godrej group pursuant to an inter-se arrangement between the members of the Family Branches viz Adi Godrej and family (ABG Family), Nadir Godrej and family (NBG Family), Jamshyd Godrej and family (JNG Family) and Smita Crishna and family (SVC Family)," CCI said in a release. Such realignment will take place under the Family Settlement Agreement (FSA) dated April 30, 2024, executed by the family branches, it added. Under the terms of the FSA, the realignment will encompass entities like the GILAC Group Entities and G&B group entities, marking a strategic effort to streamline operations and consolidate governance structures within the conglomerate. The target enterprises forming part of the proposed combination include the ...

Meity hears industry concerns over draft Digital Competition Bill

Secretary Krishnan says will share the industry feedback with MCA

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