A summary of Ranji matches played on Tuesday.
CCI has accused realty player DLF of preparing one-sided agreement with home buyers
Swiss building material major Holcim has said its $6.38 billion deal with Asia's richest man Gautam Adani's group is tax-free. Holcim had on Sunday signed a binding agreement with the Adani Group to sell its business in India -- about a 63 per cent stake in Ambuja Cement, which owns a 54.53 stake in ACC (of which 4.48 per cent is direct shareholding). "So, according to our analysis, it is a tax-free transaction," Holcim CEO Jan Jenisch said while addressing investors after the deal on Monday." When asked about the tax implications, he said: "Never know if any complication arises, but we assume that we will get the 6.4 billion Swiss Francs as net proceeds." As per the deal, Adani Group will acquire Holcim's full stake in Ambuja Cement and ACC for CHF (Swiss franc) 6.4 billion ($6.38 billion).
CSK, LSG seek improvement in top-order batting after opening losses
How Rishabh Pant performs as skipper will be watched with interest
The investigation wing of the Competition Commission of India (CCI) has cleared nine foreign airlines of cartelisation and abuse of dominant position charges, pressed by the Travel Agents Association of India (TAAI).
The Appellate Authority has stayed Rs 1800 crore penalty on Coal India.
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Former Air India Executive Director Jitender Bhargava filed the appeal challenging the decision of the Competition Commission of India to clear the Jet-Etihad deal without carrying out a detailed assessment.
The case may drag for a few years, experts say, as CAIT and DVM have said they will appeal against the interim relief granted to Amazon.
The Supreme Court on Thursday said it will hear on July 20 the Amazon plea against the Delhi high court verdict which stayed the directive by its single-judge and paved the way for the multi-billion dollar deal to amalgamate Future Retail Ltd (FRL) with Reliance Retail. A bench of Justices R F Nariman, K M Joseph and B R Gavai was informed by senior advocate Harish Salve, appearing for the Future group, that a Singapore tribunal will commence hearing on the issue from July 12 and requested that the proceedings on the appeals be adjourned for a week. Senior advocate Gopal Subramanian, appearing for the US-based e-commerce giant, said he had no problem if the hearing on the appeals was adjourned by a week, as they will be busy next week before the tribunal.
BCCI moves second ODI against Windies from Wankhede to CCI
Submits revised proposal to CCI as Birla Corp deal fails
After hearing Kingfisher's plea, the COMPAT observed that the CCI had acted beyond its scope in the matter and set aside the penalty.
Former Air India Executive Director Jitendra Bhargava had filed the appeal questioning the decision of CCI to approve the Jet-Etihad deal without carrying out a detailed assessment.
Sun gets RBI nod for transfer of Ranbaxy overseas investments.
'She was not just a fan; she knew the game and could differentiate between a good cricketer and a great cricketer.'
Non-availability of army personnel due to Indo-Pak tensions has forced authorities to indefinitely postpone Pakistan's census, the first in 17 years, according to a media report on Sunday.
The Competition Commission has approved online food delivery platform Zomato's proposed purchase of 9.3 per cent stake in online grocery shopping player Grofers India. Zomato, last month, said it has invested $100 million (around Rs 745 crore) for acquiring a minority stake in Grofers as the company looks to have more exposure to the online grocery segment. The recently-listed Zomato will acquire 9.3 per cent stake in Grofers India Pvt Ltd and Hands on Trades Pvt Ltd (HoT).
While Amazon is expected to approach either Mumbai or Delhi high court to enforce the interim order of SIAC, the Future Group, too, is likely to challenge the order. Legal experts also expect the Reliance group to expedite the process for regulatory clearances in the deal.
US e-commerce giant Amazon has written to the independent directors of Future Retail Limited (FRL), including Gagan Singh, Ravindra Dhariwal and Jacob Mathew, and its audit committee, providing data and alleging that there have been significant financial irregularities to the prejudice of public shareholders, banks, creditors, and third-party suppliers. Amazon has said this warrants a thorough and independent examination of all relevant facts and related-party transactions, including of past financial years, by an independent agency. Separately, Amazon has written to Securities and Exchange Board of India Chairman Ajay Tyagi, seeking the withdrawal of the regulator's conditional approval granted to FRL related to the merger deal between the Future group and Reliance.
The IPL teams will start training in Mumbai from March 14 or 15 onwards for which five practice venues have been identified.
In a letter to the Prime Minister, the Women of Big Bazaar SOS group said: "Future Retail and Reliance had entered into an arrangement through which Future's retail stores will continue to be operated by Reliance. Reliance has also committed to clear all debts and dues owed by Future Retail to suppliers and vendors."
E-commerce major Amazon has moved the Supreme Court in a bid to block Future group's Rs 24,713-crore deal with Reliance, according to sources.
The Maharashtra government on Monday cleared the decks for the IPL to take place in COVID-19 ravaged Mumbai, allowing teams to practice after 8pm IST and travel to their respective hotels during the night curfew that has been imposed across the state to contain the pandemic.
In a setback to DLF, the competition Appellate Tribunal on Monday upheld the CCI order imposing Rs 630 crore penalty on the realty major for unfair business practices.
Google on Friday said it is deferring the deadline for developers in India to integrate with its Play billing system from March 2022 to October next year. In October last year, the company had announced March 31, 2022 as the deadline for developers in India to integrate with Play's billing system. A Google spokesperson on Friday said the extension has been done in view of the changes to India's recurring digital payments guidelines.
While Etihad has told Securities and Exchange Board of India that it has not violated any securities law by not making an open offer, the capital market regulator is now seeking further clarity on the issue from other agencies including fair trade watchdog CCI, Finance Ministry and Aviation Ministry, sources said.
The deal, involving Abu Dhabi carrier Etihad's purchase of 24 per cent stake in Naresh Goyal-led Jet Airways, was approved last month by the Competition Commission of India.
While the government's recent moves may have been necessary in some cases, these would have an adverse impact on the investment cycles of some of these companies. The marquee global names are suddenly finding themselves out of favour as local flavour is gaining currency in the run up to 2019 elections.
CCI had initiated investigation into alleged anti-competitive practices by Google.
Etihad's acquisition of 24 per cent stake in Jet Airways was the first FDI in an Indian carrier by a foreign airline.
Indian cricket board's granting of IPL franchise rights on the basis of perpetual agreements creates barriers to potential entries, adversely impacting competition, fair trade regulator CCI has said.
There is some good news for vehicle owners. The repair and maintenance costs on their cars could come down soon if a report on monopolistic behaviour of automobile makers is accepted by the country's anti-trust watchdog.
The comments need to be submitted to the Competition Commission of India within 15 days, along with supporting documents on how the merger can adversely impact the concerned person or entity, the regulator said, while adding that it would not consider 'unsubstantiated objections' to the deal.
The CCI in an order dated February 26 approved Diageo's proposed majority stake purchase in Mallya-led United Spirits, saying the deal would not have adverse impact on competition.
The National Stock Exchange (NSE) has got into firefighting mode to control the reputational damage caused by the Securities and Exchange Board of India's (Sebi's) order against its former managing director and chief executive officer Chitra Ramkrishna and others. According to sources, the exchange's management over the past one week has met several key stakeholders, including officials in the finance ministry and Sebi, major shareholders, and trading members, trying to distance itself from the controversy. The exchange plans to hold more meetings in the coming week to ensure that trading volumes and confidence in the bourse don't get impacted, they added.
Competition watchdog CCI needs to scrutinise the practices of the state-owned companies as they are not above the law of competition, the Chairman of the 13th Finance Commission, Vijay Kelkar said on Friday.
The board has learnt from the harsh lessons of the 2021 edition when the tournament had to be suspended midway due to the raging pandemic and could only be completed in the UAE four months later.
Top cricketers like Rohit Sharma and Ajinkya Rahane will have to wait longer to resume individual training in Mumbai due to its status of being a coronavirus red zone, which rules out opening of sports facilities in the city for the time being. The Maharashtra government has allowed opening of stadiums for individual training in green and orange zones without spectators.
Almost a year after announcing a $4 billion deal, Sun Pharmaceutical Industries on Tuesday said merger of Ranbaxy with itself has been 'consummated.'
