CCI investigation into predatory pricing likely
Future Retail Ltd (FRL) on Monday said the Delhi high court has ruled that statutory authorities cannot be restrained from acting in accordance with law and stayed a previous order on status quo of its Rs 24,713 crore deal with Reliance. Updating stock exchanges about the court ruling, FRL said a Division Bench comprising Chief Justice D N Patel and Justice Jyoti Singh has stayed the operation and effect of order passed by single Judge J R Midha on February 2. "...inter alia, for the prima facie reason that the company is not a party to the Shareholders Agreement dated August 22, 2019 executed between Amazon, Future Coupons Private Limited and the Promoters of FRL, under which arbitration was initiated by Amazon in Singapore," FRL said.
Amazon has moved the Supreme Court challenging the Delhi high court's division bench order that had vacated a stay on Kishore Biyani-led Future Group proceeding with its Rs 24,713 crore asset sale to Reliance Industries. Amazon, in the petition, sought a stay on the March 22 order of the division bench, terming it "illegal", "random", "inequitable and unfair". On March 22, a division bench of the Delhi high court had granted Future a reprieve from a March 18 single-judge order that restrained it from taking any steps to sell assets to Reliance.
Sixth seed Deniz Khazaniuk enjoyed a comfortable passage to the second round of the $10,000 CCI ITF tournament. The Israeli player, ranked 471, tamed India's wild card Ashwarya Shrivastava 6-1, 6-3 in a first round singles match, at the CCI tennis courts in Mumbai, on Monday.
Future Retail Ltd (FRL) on Wednesday said it has filed an appeal in the Delhi high court against the status quo order on its Rs 24,713-crore deal with Reliance. On Tuesday, a Delhi High Court bench of Justice J R Midha had directed FRL to maintain status quo in relation to its Rs 24,713-crore deal with Reliance Retail that has been objected to by US-based e-commerce giant, Amazon. Following the Tuesday directive, FRL had said it would explore legal recourse.
India will host England in a five-match Test series, the first of which starting November 9, in Rajkot. The series will be followed by a three-match One-Day International series and three Twenty20 Internationals respectively. The Test series will be followed by a three-match ODI series and three T20s respectively. England are scheduled to visit India for a long tour which is likely to end in the month of February.
Goyal wondered why an e-commerce market place model, where a firm provides an IT platform for buyers and sellers, was incurring such huge losses adding that it needs to be looked into.
On January 31, the US Federal Trade Commission cleared the merger.
Guwahati and Thiruvananthapuram will host their first international matches -- T20 games - as the Board of Control for Cricket in India on Thursday announced the schedule of India's home series against Australia and New Zealand beginning later this month.
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Owners selling apartments are putting in a clause that if final order allows original buyers to get compensation.
'With his passing comes the end of Indian cricket history.'
Indian equestrian Fouaad Mirza is yet to decide which one of his two horses will accompany him to the Tokyo Olympic Games and said he will pick the one carrying the best form leading up to the time of submitting the entry later this month.
Indian industry should welcome the implementation from June 1 of the new merger and acquisition (M&A) norms under sections 5 and 6 of the Competition Act, 2002.
Within a week of the CBI arresting senior bankers in the housing finance racket, the competition watchdog CCI on Monday said 11 real estate companies are already under its scanner.
Future Retail Ltd (FRL) on Tuesday said it will explore all legal remedies to pursue its Rs 24,713-crore deal with RIL following a Delhi high court order directing status quo to be maintained till the court pronounces its order. Earlier in the day, a Delhi high court bench of Justice J R Midha directed FRL to maintain status quo in relation to its deal with Reliance Retail that has been objected to by US-based e-commerce giant, Amazon. Amazon welcomed the latest court directive.
Enunciating slew of measures initiated by the UPA to augment the sector, the finance minister said 19 oil and gas blocks were given out for exploration and 7 new airports are under construction.
SpiceJet's original promoter is closer to taking the management reins.
Torrent to buy Ranbaxy's anti-bacterial generic
Direct to Home (DTH) operators could be asked to provide inter-operable set-top boxes to their customers with the Competition Commission of India (CCI) seeing prima facie merit in a complaint filed by a consumer organisation that it is in violation of competition laws.
"Reaching an international agreement on how large digital companies are taxed has been a priority for the chancellor since he took office," said a spokesperson for his UK treasury office. "The chancellor's consistent position has been that it matters where tax is paid, and any agreement must ensure digital businesses pay tax in the UK that reflects their economic activities. That is what our taxpayers would expect and is the right thing," the spokesperson said.
Test cricket returns to Brabourne stadium after 36 years with the third and final match of the series between India and Sri Lanka and the organisers have promised to make it memorable with a good wicket for the December 2-6 game.
The economic growth slowed to a decade low of 5 per cent in the 2012-13 fiscal.
'With a less than comely bride and no dowry to speak of, the prospects of landing a good match look bleak, a grim, sinister and no-nonsense prospective father-in-law notwithstanding,' says Anjuli Bhargava.
A WhatsApp spokesperson said the update 'does not impact the privacy of personal messages for anyone'.
One gets the impression that most of the skywalks that are coming up in Mumbai are tethered in the philosophy that if you cannot provide a safe passage for the pedestrians on the cluttered sidewalks, provide a skywalk. It costs much more, renders the skyscape uglier but then the pedestrian deserves a new uplifting experience. So, take him skywards.
The only major point, where the amicus suggested a change was reverting to the five-man selection panel from the current three-member committee. It also suggested a change in 'Test Players Only' clause to minimum 20 first-class matches.
'India Inc has been afraid to criticise the government of the day for many years now, and it is perhaps unfair to blame the current one alone,' says Shyamal Majumdar.
The govt is not keen to fill the vacancies as it will be replaced by the CCI. Officials say the government is not keen to fill the vacancies as the body will be replaced by the CCI. However, even after CCI is notified, the MRTPC will function for two more years to clear the cases it is hanling at present. The MRTPC is still taking fresh cases.
CCI is India's competition regulator. The undertaking will be a part of the CCI's proposed 'competition compliance' programme.
'Pay-for-delay' settlements between drug patent-holders and generics manufacturers to delay the launch of cheaper generic medicine are increasingly being scrutinised by antitrust regulators
He supervised and handled several major big ticket insolvency cases that includes Essar Steel, Bhushan Power & Steel, Bhushan Steel, Jaypee Infratech, ElectroSteel Steel, Binani Cement, Reliance Communications.
Short of match practice, Mahendra Singh Dhoni, Ashish Nehra and Ajinkya Rahane will captain the India A team for two warm-up matches against England at CCI, Mumbai next week. Dhoni, who has not played a competitive game in over two months, will lead the India A side in the opening warm-up here on January 10. Rahane, who is coming back from an injury, will captain the team in the second warm-up on January 12.
India's fight against the growing market share of manmade fibers is beginning to get global support, especially from the Cotton Council International (CCI).
To watch Dada standing on the steps of the airplane ladder with a glittering trophy in hand was exhilarating, recalls Hemant Kenkre.
Competition Commission of India is considering amnesty plan to bust cartels.
Though the NDA government had been trying to privatise 20 companies, a decision for which was taken in 2017, and included national carrier Air India, the investor community evinced little enthusiasm for any of them. Now, with an in-principle approval for privatisation of BPCL, CCI and SCI, the government has taken the plunge again.
After passing of the Competition Act, 2007, in September, Minister of Corporate Affairs Prem Chand Gupta had announced that the CCI would be fully functional by the middle of next year.
The Indian ace crushed qualifier Sachin Jadhav 9-2, 9-1, 9-1 to enter the quarter-finals at the Western India Open Squash Championship.
Top seeds Ritwik Bhattacharya and Joshna Chinappa won the the men's and women's Open titles respectively in the 64th CCI-Western India Open Squash Championships on Sunday. The formidable Bhattacharya scored a 9-7, 9-1, 9-2 triumph over second seed Sandeep Jangra while Chinappa overcame England's Mandy Kennedy 9-5, 9-5, 9-2 in the women's final.
These risks are viewed as more acute in the online world.
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