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.
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.
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.
Most of the pharma units are failing in documentation, and validation processes, and many don't have full-fledged quality control laboratories.
Ironically, the Bangalore-based company had established itself as a major Information Technology powerhouse leveraging India's low-cost high-skilled manpower.
The Competition Commission of India has slapped Coal India Ltd with a penalty of Rs 1,773 crore (Rs 17.73 billion) -- the biggest by the watchdog on a company -- over alleged abuse of its monopolistic position.
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 order follows a complaint filed by Delhi Vyapar Mahasangh which accused the e-commerce firms of anti-competitive practices like preferential listing, exclusive tie-ups and private labels.
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.
Google on Thursday said it has moved the Delhi high court against the leak of antitrust body CCI's confidential report pertaining to the investigation against the tech giant. Google, in a statement, said it aims to prevent any further unlawful disclosures of confidential findings by the investigative arm of Competition Commission of India (CCI). The tech giant noted that it has "not yet received or reviewed this confidential report".
How dominant are Chinese firms in India's sub-Rs 10,000 mobile device market? The question has become relevant as the government has been thinking of reserving this price segment for domestic players who have not been able to battle the Chinese onslaught. However, telecom firms and others are concerned that such a move could stymie the effort to build affordable 5G phones in the sub-Rs 10,000 category.
In two months, as many as 25 complaints have been sent to Enforcement Directorate, Competition Commission of India, Reserve Bank of India and income tax department, beside various state agencies, to thwart the deal.
The Tata group has proposed to acquire more than 60 per cent stake in online grocery platform BigBasket, according to a filing, as the conglomerate seeks to expand in the fast-growing e-commerce space. The group plans to buy up to 64.3 per cent stake in Supermarket Grocery Supplies Pvt Ltd (SGS) through a combination of primary and secondary acquisitions, a filing with the Competition Commission of India (CCI) showed. The parties to the proposed deal are Tata Digital Ltd (TDL), SGS and Innovative Retail Concepts Pvt Ltd (IRC) -- which is engaged in B2C (Business to Consumer) sales through www.bigbasket.com and related mobile applications.
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.
This is the second time in less than six months that the fair trade watchdog has called for an investigation against the two entities after finding prima-facie evidence of violation of competition norms.
Uber valued at $53 billion, is looking at more than 50 per cent market share in India by the first quarter of 2016.
India was the world's biggest importer of Russian oil in February, exceeding China by 20 million barrels.
The Delhi high court dismissed the appeals of WhatsApp and Facebook on Thursday against an order rejecting their challenge to a probe ordered by the Competition Commission of India (CCI) into the instant messaging platform's updated privacy policy of 2021.
Assume Voot, JioCinema and Disney+ Hotstar are merged into one entertainment app, and you have a streaming service with more than 233 million unique visitors. That is a reach just under half of India's largest streaming app: YouTube. 'This level of consolidation does not exist even in the US.'
What seems to have changed over the last two-three years is that earlier the CCI considered online as another channel for retail sales, while it now seems dividing the retail market into two -- online and offline, and looking at them separately, say competition law experts.
The government believes firms which are subject to China's laws could be forced to hand over information to Beijing's security services.
The court said it saw no merit in the petitions of Facebook and WhatsApp to interdict the investigation directed by the Competition Commission of India.
Scrutiny of Google's code of conduct in the Indian Android ecosystem is far from over with several start-ups preparing to appeal against the company's revised policies of service fee on in-app purchases and subscriptions, according to sources in the know. This comes days after the National Company Law Appellate Tribunal (NCLAT) granted partial relief to the tech giant, reversing four of the 10 key non-monetary directives that would have forced Google to allow uninstalling of its pre-installed apps on Android devices. Paytm, BharatMatrimony, and ShareChat are among the start-ups that are likely to file grievances against the tech major for alleged non-compliance with the Competition Commission of India's (CCI's) cease-and-desist order on Play Store policies.
The CCI passed this judgment in two different cases relating to the e-auction scheme and fuel supply agreements which were filed last year.
'Commentators have said that dealing with allies as equals will make Modi more sensitive.' 'Remember that the people Modi is dealing with are equally autocratic in their own lairs.' 'Further, Modi always has handy the threat of dissolving Parliament and calling for fresh polls.' 'Most of his own party, and certainly his allies and opponents having blown their budgets of efforts and resources in the just concluded elections, have no stomach for this.' 'They are all greatly looking forward to the loaves and fishes of office on offer.' 'That gives Modi an unbeatable advantage in any push-comes-to-shove situation,' explains Shreekant Sambrani.
"It went up to 20-odd per cent in 2019 and to 25 per cent a year later. "That's when we decided to pull the plug; it was not sustainable for our business," says Chadha. Madison & Pike, instead, turned to Mumbai-based start-up Thrive, which provides third-party delivery services to restaurants at a much lower commission - three to five per cent.
This is the third such matter relating to Google's AdWords to come under the lens of CCI in the recent past.
If Modi wants to leave a real legacy, breaking India's strategic triangulation would be the real gift, notes Shekhar Gupta.
There is a significant difference of opinion within the government on the draft e-commerce rules put out by the consumer affairs ministry, a top government official said on Wednesday and flagged concerns that continuous change of the policy causes a great deal of uncertainty. The official said that unnecessary fear is created that the government's current e-commerce policy is hurting small traders. "There is a significant difference of opinion within the government on the draft Consumer Protection (e-commerce) Rules put out by the consumer affairs ministry... Continuous change of the policy causes a great deal of uncertainty," the official said on the condition of anonymity.
The open offers for the shareholders of Ambuja Cements and ACC will begin from July 6 and close on July 19, as per a tentative schedule published by the Adani family today. With an investment of $4 billion (Rs 31,139 crore), together these two open offers might constitute the biggest open offer in corporate Indian history. The mandatory open offer for the companies was made by a Mauritius based company owned by the Adani family after they acquired a 63 per cent stake in Ambuja and 4.5 per cent in ACC from Swiss cement major, Holcim for $6.5 billion. Ambuja owns a 50 per cent stake in ACC.
The year 2015 will be a tough year for mergers and acquisition.
Manavjit set to be disqualified from Olympic Qualifiers after his gun stock fails test
The Competition Commission of India (CCI) on Tuesday said that the proposed additional stake buy in United Breweries (UB) by Dutch major Heineken does not raise any competition concerns, effectively clearing the deal. In its order, the CCI said, "It is submitted that the proposed transaction does not give rise to competition concerns regardless of delineation of the relevant market for the purpose of this filing." UB is the country's largest beer company, while Heineken is the world's second-largest brewer after Anheuser-Busch (AB) InBev.
Ashok Kumar Gupta, chairman of the Competition Commission of India (CCI), has never minced words while talking about the giant technology companies, referring to them on multiple occasions as "centres for entrenched and unchecked dominance". The anti-trust regulator has, in fact, been cracking down on big technology companies such as Google, Apple, Facebook, and others, after they were hauled up by regulators and lawmakers in Europe and Australia. However, in several instances, existing regulations have prevented the CCI from going all out against these companies for anti-competitive activities.
The TDP and JD-U will have a lot to answer inside Parliament, day after day, session after session, notes N Sathiya Moorthy.
The number of cases being admitted and investigated by the Competition Commission of India has fallen drastically in recent years.
The Supreme Court on Wednesday asked Amazon and Future group to request the NCLAT to decide the plea challenging the revocation of sanction to the US e-commerce major for its deal with Future group's firm by the Competition Commission of India. The suggestion was made by a bench headed by Chief Justice N V Ramana while adjourning to March 9 the hearing on Amazon's appeal against the January 5 order of the Delhi high court staying the ongoing arbitration proceedings before an arbitral tribunal over Future Retail's Rs 24,500-crore merger deal with Reliance Retail. The bench, also comprising Justices A S Bopanna and Hima Kohli, deferred the hearing after brief arguments on being told that the National Company Law Appellate Tribunal (NCLAT) is hearing another appeal of Amazon related to the merger deal.
Among all the geographies where Amazon is fighting regulators, India is the only place where its lines are also tangled in a major corporate battle, this one with India's largest company by market capitalisation over the acquisition of Mumbai-based Future Group's retail chain, the country's second largest. No other corporate entity in any country offers a challenge to Amazon's hegemony in a way Reliance Industries does - and the final hearing of an arbitration case filed at the Singapore International Arbitration Centre between the two may decide at least some of these issues. This legal battle between one of the world's most powerful corporations and one of India's most powerful conglomerates could be complicated by a host of other developments.
After failing to get a court order to block an antitrust ruling, Google on Wednesday said it will allow users in India to choose default search engine on Android-based smartphones. As part of the key changes the tech giant will make to its platforms and business in India in the aftermath of the landmark CCI ruling, OEMs (Original Equipment Manufacturers) will be able to license individual Google apps for pre-installation on their devices. Google is also updating the Android compatibility requirements to introduce changes for partners to build non-compatible or forked variants, the company said in its blog.
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