The Competition Appellate Tribunal (Compat) had on December 7 last year ordered fair trade watchdog CCI to probe afresh the alleged abuse of dominance by the popular tax-hailing app operator.
US e-commerce major Amazon Wednesday apprehended the "disappearance" of assets and sought an interim order from the Supreme Court to ensure the preservation of assets of Future Retail Ltd besides resumption of arbitration over FRL's merger deal with Reliance Retail. A bench comprising Chief Justice N V Ramana and Justices A S Bopanna and Hima Kohli took note of the allegations of the US firm that the "applecart was being upset" by its rivals and asked the Future group firms, FRL and Future Coupons Ltd (FCPL), to respond to the interim plea of Amazon seeking resumption of arbitration and preservation of assets and fixed the hearing on March 23. Amazon and Future group are engaged in multi-forum litigations on the issue of FRL's merger deal to the tune of Rs 24,500 crore with Reliance Retail Ltd after the US e-commerce giant dragged the latter to arbitration at the Singapore International Arbitration Centre (SIAC) in October 2020.
The complaint has been received against these online trading entities weeks after an uproar over Flipkart's massive discount sale which had raised concerns of anti-competitive practices.
A WhatsApp spokesperson said the update 'does not impact the privacy of personal messages for anyone'.
The Competition Commission of India (CCI) is to be congratulated for imposing a large fine, of nearly Rs 1,800 crore (Rs 18 billion), on Coal India Ltd for alleged abuse of its monopolistic position.
Digital India was the flavour of the PM's recent Silicon Valley visit.
Even under the RTI response, all public sectors banks have washed their hands of any responsibility.
'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
The AFI started National Open Javelin Throw Championships in 2018 and its third edition is scheduled in October this year.
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.
LVB had faced some serious flak in terms of bad loans, earnings and credit rating downgrades, since 2016.
Fair trade regulator CCI on Friday ordered a probe against Google for its alleged abuse of dominant position. "In a well-functioning democracy, the critical role played by news media cannot be undermined, and it needs to be ensured that digital gatekeeper firms do not abuse their dominant position to harm the competitive process of determining a fair distribution of revenue amongst all stakeholders," CCI said. It added that the Commission is of prima facie view that Google has violated provisions of Section 4 of the Competition Act, 2002 which pertains to abuse of dominant position.
The writing has been on the wall for some time and it showed up prominently during the festival-season sales last year, when Meesho toppled Amazon to become the second-largest player in order share. During the sales season, 60 per cent of the orders Meesho received were from tier-4 cities and beyond. According to a report by consulting firm Redseer, festival-season sales last year were driven primarily by tier-2 and tier-3 cities, with 64 per cent of the shoppers coming from those.
Apple's three vendors in the country have hit the milestone of creating 30,000 new direct jobs since the production-linked incentive (PLI) scheme for mobile devices kicked off in April 2021. Based on the government's estimate that one direct job in the electronics industry helps to generate three indirect ones, Apple's vendors, Foxconn Hon Hai, Wistron and Pegatron, are close to creating 100,000 direct and indirect jobs. The direct jobs that the vendors have created account for a fourth of Apple's commitment to generate 60 per cent of the new direct jobs out of the 200,000 jobs targeted by the government under the PLI scheme within five years.
Ignoring objections by political parties, the government on Friday introduced a bill in Lok Sabha to clear legal hurdles in appointment of former Telephone Regulatory Authority of India Chairman Nripendra Misra who joined as principal secretary to Prime Minister Narendra Modi more than a month back.
Tuition classes: Saviours or demons, asks Ajit Balakrishnan.
With the increased death rate in the ongoing second wave of Covid-19, domestic cement companies are in no better condition than they were in the April-June quarter of FY21 when the country faced nationwide lockdown. "This wave has had high death rate which has impacted the business. "We are in no better situation than last (year) April. "Deaths of drivers, dealers, contractors and also employees have hit the industry really very hard since April (FY22)," M Ravinder Reddy, director of Bharathi Cements said.
Future Retail's independent directors had last week asked Amazon if it was willing to give a long-term loan to avoid default on repayment of Rs 3,500 crore loan due on January 29. Amazon replied to that saying it was willing to financially assist Future Retail through the Samara Capital deal but the retailer must shelve Rs 24,713 crore deal with the Reliance group.
The move comes after CBI gets sanction to prosecute him in Aircel-Maxis case
The other three airlines that have been probed in this matter are SpiceJet, GoAir and Air India
Aviation regulators says airlines are free to fix fares.
Embattled retailer Future Retail Ltd (FRL) on Tuesday moved the Supreme Court to avert insolvency proceedings over missing a loan repayment deadline, even as its independent directors rejected an Amazon-supported offer to sell the company businesses at less than a third of what Mukesh Ambani's Reliance is offering. India's second-largest retailer, which operates multi-brand retail chains such as Big Bazaar, Easyday and Heritage, failed to pay Rs 3,494.56 crore to lenders by the due date of December-end and sought a 30-day grace period to resolve the situation. Unable to find money, it moved the apex court seeking to restrain its lenders from declaring the company a defaulter, which can invite initiation of insolvency proceedings.
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.
Competition watchdog says 'high market concentration' in some segments a worry.
The most immediate challenge for growth is the disruption of the global economy brought about by the Ukraine war and related sanctions, the Covid shutdowns in China and the rising tide of inflation, points out Nitin Desai.
'What was the message that was going to them?' 'The message was, we are a great country and we have beaten Covid!' 'No one talked about the precautions to be taken.'
'Tibetans will participate in future conflicts with India (in all probability, some were already present in Galwan).' 'As nobody in India would like to have a deadly fight with Tibetan soldiers and officers, the issue needs to be closely followed,' observes Claude Arpi.
Cargill believes the reforms would act as a catalyst in attracting private sector investment in building supply chains for taking Indian farm produce to national and global markets.
If Kerala wants to sustain its room for independent thinking and talk back to Delhi when needed, it should put its finances in order. Or - if one takes the North East example - Kerala's political posturing may end up commensurate with its financial dependence on others, suggests Shyam G Menon.
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.
Reason for rejection hasn't been stated; deal among seven rejected transactions.
Bhavdeep Singh, the CEO of Fortis Healthcare said that they haven't been able to focus on the business due to an internal issue, especially with regard to the promoters
Deepak Kumar and Divyansh Singh Panwar finished a lowly 26th and 32nd respectively in the men's 10 metres Air Rifle event of the Tokyo Olympics on Sunday
The Delhi high court on Friday declined Future Group's plea for stay on an arbitration tribunal order refusing to interfere with the Emergency Award (EA) which restrained it from going ahead with the Rs 24,731 crore merger deal with Reliance Retail. Justice Suresh Kumar Kait sought response from US-based e-commerce giant Amazon which had challenged the merger before the Singapore arbitration tribunal under SIAC, and listed the appeals by Future Coupons Pvt Ltd (FCPL) and Future Retail Ltd (FRL) for further hearing on January 4. Senior counsel Harish Salve, appearing for FRL, urged the court to pass an interim order clarifying that an earlier order passed by the Supreme Court - which stayed all proceedings in relation to the enforcement of the EA - would remain in force despite the subsequent order passed by the duly constituted arbitration tribunal.
Vodafone Idea's (Vi's) search for a lifeline has turned longer and tougher even as it continues to lose customers and delay vendor payments. Vi's much-needed Rs 1,600-crore fundraising plan got stuck due to the government's silence on picking up a proposed 33 per cent equity in the financially stressed telco. The development spells further trouble for the company, which has an overall debt pile of Rs 2.2 trillion, including hefty dues to the government.
India's badminton great Prakash Padukone will receive the prestigious Lifetime Achievement Award this year from the Badminton World Federation (BWF).
ndia has become the world's second largest market of asbestos as the government backed by powerful corporate lobby turns a blind eye to diseases related to the use of the hazardous chemical.
Adani Ports and Special Economic Zone Ltd (APSEZ) on Wednesday said it has decided to exit its investment in Myanmar by June next year. APSEZ, the largest port developer in India, is part of the globally diversified Adani Group. "The Board has decided to actively work on a plan on exiting Company's investment in Myanmar including divestment opportunities (expected to be concluded by March - June 2022)," APSEZ said in notes to its second quarter results.
Flipkart has not been able to process with its plans of getting into the grocery vertical and is stuck on running pilots in select cities.
China remains a "formidable challenge" that has increased its presence not only along India's land borders but also in the maritime domain, Navy Chief Admiral R Hari Kumar said on Tuesday and asserted that the naval force keeps a regular watch in the Indian Ocean Region.
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