Indian Sellers Collective (ISC), a trade association of micro and small enterprises and family businesses, on Wednesday urged IT veteran NR Narayana Murthy to cooperate in the Competition Commission of India's antitrust probe against Amazon for alleged anti-competitive practices. In 2014, Murthy's Catamaran and Amazon had formed a joint venture, Prione Business Services. On Monday, the partners announced that they have mutually decided not to continue the JV beyond May 2022. ISC thanked Murthy for deciding to end the joint venture with Amazon.
The political heat in West Bengal has been giving the rising mercury levels serious competition since the high court order.
Despite declining by three percentage points in 2022-23 (FY23) compared to FY19, Odisha's unemployment rate remains higher than the average in India.
Here is an explainer on the functioning of the seven-year-old body.
The Board of Control for Cricket in India is "very unhappy" with Fair trade regulator Competition Commission of India's decision to impose a hefty penalty of Rs 52.24 crore for indulging in anti-competitive practices and is planning to seek legal recourse in this regard.
India deserves a rating upgrade in view of improvement in macro-economic situation, the conservative outlook of Standard & Poor's notwithstanding, Finance Minister P Chidambaram said.
'I have no doubt that when she was prevented from meeting Kejriwal, she felt humiliated.'
Seemingly expressing his displeasure against ministers demanding three more deputy chief minister posts in Karnataka, state Congress president D K Shivakumar on Tuesday said the party would respond to them appropriately.
Its success script: Investing more in local content ecosystem; growing its partnership footprint.
The merger of ZEE Entertainment and Sony has reached an advanced stage of completion, and the issues faced by promoters with Sebi should not become a problem for the company, debarred ZEEL MD Punit Goenka has said in a letter to employees, according to sources. Goenka, who along with his father Subhas Chandra, was denied any interim relief against a Sebi order that barred them from holding the position of director or key managerial post in any listed company, in the letter ZEE Entertainment Enterprises Ltd (ZEEL) staff asserted that the merger of Culver Max (earlier known as Sony Pictures Networks India) is at a very important juncture. With the Securities Appellate Tribunal (SAT) restricting him from holding a directorial or key managerial position in a listed company, Goenka told the employees that the ZEEL board has constituted an interim committee of senior executives to ensure smooth operations and day-to-day functioning.
Uber's draft prospectus for the biggest IPO in the world since Alibaba's in 2014 has projected a major cash burn for Uber in trying to get a significant market share in India, reports Karan Choudhury.
Sony India and Zee Entertainment Enterprises (ZEEL) have agreed to sell three Hindi channels--Big Magic, Zee Action and Zee Classic--to address anti-competition concerns arising out of their proposed merger. The broadcasters submitted their proposal to the Competition Commission of India (CCI), which gave a conditional approval on October 4. On Wednesday, the CCI made public its detailed 58-page order, specifying the channels that would be dropped.
Tata group-owned AirAsia India's inability to get approval for international flights is hurting UDAN, the Indian government's regional air connectivity project that also aims to link cities in Northeast India and Odisha to places abroad. Sources said the civil aviation ministry is waiting for the low-cost airline to come under the full ownership of Tata Sons and become part of Air India, the former state-owned carrier now owned by the private conglomerate, before allowing it to operate international flights. Tata owns 84 per cent stake in AirAsia India and it is understood that the group will complete the process of buying rest of the stake by July's end.
CIL is charged of discriminating in favour of public sector firms in the reworked format of fuel supply agreements.
Dropping references to the demolition of Babri Masjid in Ayodhya, the killing of Muslims in Gujarat riots and Hindutva, and tweaking the reference to Manipur's merger with India are among the latest set of revisions made public by the National Council of Educational Research and Training (NCERT) in its textbooks.
US e-commerce giant Amazon, which is said to be investigating alleged bribes paid by its legal representatives in India, spent a staggering Rs 8,546 crore or $1.2 billion in legal expenses for maintaining a presence in the country during 2018-20, sources said. Sources aware of the firm's public account filings said entities of Amazon - including Amazon Retail, Amazon Seller Services, Amazon Transportation Services, Amazon Wholesale, and Amazon Internet Services - paid Rs 3,420 crore in India during 2018-19 and Rs 5,126 crore during 2019-20 towards legal fees. Amazon is locked in a legal tussle over the takeover of Future Group and is facing a probe by the Competition Commission of India (CCI).
The government is targeting export of goods and services worth $2 trillion by 2030.
Power Grid Corporation of India (PGCIL) was one of the top Sensex gainers in trade on Monday, ending with gains of nearly 9 per cent. The stock has gained about 42 per cent year-to-date. For the March quarter, the company reported a revenue of Rs 12,000 crore, which was down 3 per cent year-on-year (Y-o-Y) but up 4 per cent quarter-on-quarter (Q-o-Q). The drop was on account of one-time arrears related to the Nagapattinam tariff bid competitive bidding (TBCB) project in Q4 FY23.
Crucial reforms in Muslim personal law, especially laws related to inheritance and adoption, need to be initiated forthwith; historically speaking, without the State's backing, hardly has any reform taken place or allowed to prevail, asserts Mohammad Sajjad.
The FIH Athletes Committee serves as a consultative body and makes recommendations to the FIH Executive Board, FIH Committees, Advisory Panels and other bodies.
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).
'We would love to have more players entering the market because that is how the business will grow.'
An additional criterion in mergers and acquisitions (M&As) may require digital businesses to secure approval from the Competition Commission of India (CCI), the anti-trust regulator. The government is set to introduce a minimum threshold "transaction value" of Rs 2,000 crore (around $250 million) for any deal as a criterion for notification to the anti-trust regulator if the entity being acquired has substantial operations in India. The new criterion is learnt to be part of the proposed amendments to the two-decade-old Competition law, which is expected to be tabled in the ongoing monsoon session of Parliament.
'We went from zero to about 10 million users in three months. Paytm came out with the wallet play and we came out with the UPI play.'
The Mumbai bench of the National Company Law Tribunal (NCLT) on Wednesday directed Zee Entertainment to convene a shareholders' meet on October 14 for approving the merger with Culver Max Entertainment (formerly Sony Pictures Network). The order, passed on August 24, but uploaded to the bourses on Wednesday, comes close on the heels of the Competition Commission of India (CCI)'s observation that the $10-billion merger could hurt competition and that greater scrutiny of the deal was needed. "This Tribunal hereby directs that a meeting of the equity shareholders of the applicant company (Zee) be convened and held on Friday, October 14, 2022 at 4 p.m. for the purpose of considering, and if thought fit, approving the proposed scheme," the NCLT order read.
Most of the pharma units are failing in documentation, and validation processes, and many don't have full-fledged quality control laboratories.
"The notification will be finalised in the first week of May and would be implemented from June 1, 2011," Secretary in the Ministry of Corporate Affairs D K Mittal told reporters on the sidelines of a FICCI event in New Delhi.
The National Company Law Appellate Tribunal (NCLAT) on Monday rejected Amazon's plea challenging the decision of fair trade regulator CCI to suspend the approval for the e-commerce major's deal with Future Coupons. A two-member bench comprising Justice M Venugopal and Ashok Kumar Mishra, upheld the findings of the Competition Commission of India (CCI) and directed it to pay the penalty of Rs 200 crore imposed on Amazon by the fair trade regulator within 45 days from Monday. "This appellate tribunal is in complete agreement" with the CCI, the two-member bench said.
Google said safety, affordability and expanded use cases for the next wave of users will be the pillars to get the next 700 million users online.
Last month, Competition Commission of India, apex body that operates to sustain and promote competition, sent notices to atleast 15 banks, non-banking financial companies and Indian Banks' Association seeking explanation on why they penalise borrowers who choose to foreclose loans.
HDFC chairman Deepak Parekh on Friday exuded confidence that the synergies between HDFC Bank and the group companies will deepen with the bank taking on the mantle of ownership of the group following the reverse merger likely to be effective from Saturday. As chairman of HDFC Ltd, Parekh in the last message to the shareholders said home loans will now be complemented with HDFC Bank's core strengths -- its sales engine, execution capabilities at scale and deep insights on consumer behaviour. The reverse merger of parent HDFC Ltd with HDFC Bank is expected to be effective from July 1.
Engineering conglomerate Larsen & Toubro (L&T) is preparing the ground to begin the commercial sale of electrolysers in September, which would be 50 per cent cheaper than its European counterparts, a senior company executive has said. An electrolyser is a key equipment required for the generation of green hydrogen. Last quarter, L&T manufactured its first electrolyser as a prototype.
The Competition Commission of India (CCI) on Monday slapped a penalty of Rs 2,545 crore on 14 top carmakers of the country for violating trade norms in the spare-part andafter-sale service market.
Constituencies that are going to the polls in the first phase, slated for April 19, have just 19 days for campaigning. Contrast that with those going to polls in the 7th phase, notes N Sathiya Moorthy.
When the Bharatiya Janata Party's Mukesh Dalal was declared elected unopposed to the Lok Sabha from Surat on Monday, he became the first candidate to achieve the feat from Gujarat since its formation 64 years ago though the erstwhile state of Saurashtra saw a similar instance in 1951.
The airlines were penalised for 'concerted action in fixing and revising Fuel Surcharge (FSC) for transporting cargo.'
Amid reports of Amazon probing bribery-related charges against some of its legal representatives in India, the US e-commerce giant on Monday said it takes allegations of improper actions seriously and investigates them fully to take appropriate action. Without confirming or denying allegations, Amazon said it has "zero tolerance for corruption". According to a report by The Morning Context, Amazon has initiated an investigation against some of its legal representatives for allegedly bribing Indian government officials.
Alleging "anti-competitive practices" by Zomato and Swiggy, restaurant industry body National Restaurant Association of India (NRAI) on Monday said it has approached fair trade regulator Competition Commission of India (CCI) for a detailed probe against the food aggregators. Keeping the interests of restaurants in mind, NRAI on July 1 had filed information with the CCI, it said in a statement. The main issues highlighted by the association in the submission are bundling of services, data masking, and exorbitant commission charged, price parity agreements, deep discounting, including forcing restaurant partners to give discounts to maintain appropriate listing, exclusivity of listed restaurants, and violation of platform neutrality, vertical integration, and lack of transparency on the food ordering platforms.
Jiomart B2B is the latest among organised supply-chain companies to bite the bullet, shutting down its warehouses, and asking its employees to leave. Why are companies finding it difficult to sustain the supply-chain business? Experts point out that gross margins in supplying fast-moving consumer goods (FMCGs) are very low.
Ironically, the Bangalore-based company had established itself as a major Information Technology powerhouse leveraging India's low-cost high-skilled manpower.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances