Manish Tiwary plans to take up a new role at another firm.
The biggest private petroleum company had lost the tender due to OMCs adopting a uniform strategy of differential discounts at different locations. Asked, CCI officials were not available for a comment.
Sebastian Coe, a contender for the International Olympic Committee (IOC) president's post, believes India's bid to host the 2036 Olympic Games is a "strong case" but acknowledges that the competition will be intense with several other countries vying for the honor. Coe, considered a frontrunner in the race to succeed Thomas Bach as IOC president, expressed his support for India's commitment to global sport and the Olympic movement.
After cement, billionaire Gautam Adani's group and Kumar Mangalam Birla's Aditya Birla Group are set for a face-off in the wires and cable business with both conglomerates announcing forays into the high double-digit growth sector.
Over the past eight months, a team of 80 people has been diligently working to harmonise operating procedures across four airlines run by the Tata group, as part of two mergers, revealed Campbell Wilson, Air India's chief executive officer (CEO), on Friday. The Tata group is consolidating its aviation business by merging four airlines into two: Air India and Vistara are merging to form a single full-service carrier, while AIX Connect and Air India Express are combining to create a unified low-cost carrier (as a subsidiary of Air India).
'No matter how much you get paid or how successful you get, nothing can match the fauj.'
'The BJP lacks a credible mass leader who matches Mamata Banerjee's popularity.' 'Given the division of votes among Opposition parties, the West Bengal government's dole-giving strategy, and the consolidation of the poor, significant sections of scheduled caste groups and Muslim minorities behind the ruling party, it will be difficult to dislodge the Trinamool from power.'
Billionaire Mukesh Ambani-led Reliance Industries has completed the merger of its media assets with the India business of global media house Walt Disney and formed a joint venture with a valuation of over Rs 70,000 crore. The JV will be one of the largest media and entertainment companies in India with a combined revenue of approximately Rs 26,000 crore and will be led by Nita Ambani as its chairperson, according to a joint statement.
After a massive selloff in the shares of food delivery giants Zomato and Swiggy, analysts believe the time may be right for investors to start adding these stocks to their portfolio carts. Their optimism, they say, stems from the sharp correction in stock prices and valuations, which seem to have "over-baked" concerns about the two companies.
This isn't the first instance of Vistara facing scrutiny from the regulator over improper pilot training.
Last year too, the competition regulator had sent notices to airlines whether they were acting together to raise or lower airfares.
Engineering and construction major Larsen & Toubro (L&T) reported a 25 per cent rise in net profit attributable to the owners of the company for the January-March quarter of 2024-25, owing to higher revenues and an exceptional gain. For the quarter under review, L&T posted a consolidated net profit of Rs 5,497.3 crore, while revenue rose 10.9 per cent year-on-year (Y-o-Y) to Rs 74,392.28 crore.
Cement manufacturers' show during the June 2023-ended quarter (Q1FY24) has indicated an intensified slugfest for market share. For instance, Dalmia Bharat (Cement) said it has lost market share in eastern India owing to lack of price discipline. Industry analysts also said that the seasonal weakness in cement prices for Q1 is showing up earlier than usual.
Around 600 non-flying staff of Air India and Vistara are likely to be impacted by the two airlines' mega-merger, and efforts will be made to provide job opportunities to the affected employees within Air India group and Tata companies, sources said on Wednesday. Tata Group-owned loss-making full-service carriers -- Air India and Vistara -- together have more than 23,000 employees.
Ministry mulls graded funding for sports federations
'If you compare the data from 2017 and 2023 of the US imports from the world and China, you will see that the US was a complete loser in the trade war, and China was a complete gainer.'
Jan Suraaj Party founder Prashant Kishor, who has been on a fast unto death to press the demand for cancellation of a Bihar Public Service Commission (BPSC) exam, on Sunday sought the support of Congress leader Rahul Gandhi and former Bihar Deputy Chief Minister Tejashwi Yadav.
The Competition Commission of India has approved the acquisition of 31.27 per cent of additional stake in Religare Enterprises by four entities of Dabur India promoter Burman family, enabling them to become majority owners in the financial services firm. The fair trade regulator allowed the four entities to acquire Religare's 5.27 per cent through stock market purchase and another 26 per cent through an open offer.
High pilot utilisation, combined with a portion of pilots taking sick leave at the end of March has resulted in the cancellations during the last couple of days, chief executive officer (CEO) of Vistara, Vinod Kannan, said during a meeting with the pilots on Wednesday.
Indian Olympic Association (IOA) President PT Usha on Tuesday insisted that its commitment to host the 2036 Summer Games "remained steadfast" despite the "internal challenges" her organisation has been facing due to her feud with the Executive Council members.
A coaching institute in Jaipur was sealed after several students fainted during a class, prompting calls for action against those responsible and a shift of such institutions to a designated "Coaching Hub". The incident, which saw students experiencing breathing difficulties and headaches, is suspected to have been caused by a gas leak from either a sewer line or the institute's kitchen. The Rajasthan Human Rights Commission has recommended free treatment and compensation for the affected students and an investigation into the matter.
The interim report highlights key competition issues in the e-commerce space like deep discounting, the imposition of unfair terms and conditions, the growing dependence of brick and mortar establishments on online platforms, and opaqueness in search rankings.
Jan Suraaj founder Prashant Kishor has begun a fast unto death in Patna, demanding the cancellation of a recent examination held by the Bihar Public Service Commission (BPSC). Kishor's hunger strike comes after he gave a 48-hour ultimatum to the Nitish Kumar government to act on the demand, raised by aggrieved candidates who allege the exam was rigged. The administration has declared the hunger strike illegal as it is not the designated site for protests.
The VBL board approved the purchase of SBC Tanzania for Rs 1,304 crore and SBC Beverages Ghana for Rs 127 crore. These own manufacturing/distribution rights for NARTD (PepsiCo branded) beverages in Tanzania and Ghana. The acquisitions will help VBL gain ground in East and West Africa.
Fair-trade regulator Competition Commission of India (CCI) on Thursday cleared the proposed merger of Credit Suisse Group AG with UBS Group AG. Both Credit Suisse Group AG (Credit Suisse) and UBS Group AG (UBS) are multinational investment banks and financial services companies founded and based in Switzerland.
Bihar Police on Saturday dismissed social media rumours about the arrest of Patna-based tutor and YouTuber Khan Sir, stating he had come to a police station on his own accord to express solidarity with protesters detained over an illegal demonstration near the Bihar Public Service Commission (BPSC) office.
'With a very stable technology with limited functionalities, a large network has spanned out.'
Power Grid Corporation of India's (PWGR's) Q3FY25 revenue declined 3 per cent year-on-year (Y-o-Y) to Rs 11,200 crore, with operating profit falling 7 per cent Y-o-Y to Rs 9,500 crore and margin contracting to 85 per cent from 91 per cent Y-o-Y. Other income surged 89 per cent Y-o-Y to Rs 500 crore, but regulatory income dropped 62 per cent Y-o-Y to Rs 42.5 crore.
The National Company Law Appellate Tribunal (NCLAT) has set aside the penalty imposed on multi-conglomerate ITC by fair trade regulator CCI for not notifying for the acquisition of brands 'Savlon' and 'Shower to Shower' in 2017. ITC had 2017 acquired the antiseptic brand Savlon and the personal care product brand Shower To Shower from Johnson & Johnson Private. The Competition Commission of India (CCI) had on December 11, 2017, imposed a fine of Rs 5 lakh on ITC for alleged failure to give notice under sub-section 2 of Section 6 of the Competition Act.
The exit of WeWork from its India unit is unlikely to have an impact on the country's co-working real estate market, according to industry executives. The company last week received approval from the Competition Commission of India (CCI) to sell its entire 27.5 per cent stake in the India unit to Real Trustee Advisory Company. The majority of the stake (72.5 per cent) in WeWork India is owned by Bengaluru-based Embassy Group.
A Judicial member of the appellate tribunal NCLAT has recused himself from hearing a petition filed by tech giant Google, appealing against Rs 936.44 crore penalty imposed by competition watchdog CCI for abusing its dominant position with respect to Play Store policies. On Monday, NCLAT bench Justice Rakesh Kumar and Alok Srivastava ordered Google's appeal to be listed before another bench of which Justice Rakesh Kumar is not a party. It has asked the registry of the National Company Law Appellate Tribunal (NCLAT) to place it before the chairman of the appellate tribunal for this.
Police in Patna, Bihar used water cannons and mild force to disperse protesters demanding the cancellation of the Bihar Public Service Commission (BPSC) exam held on December 13. The protesters, who were joined by Jan Suraaj founder Prashant Kishore, attempted to march towards the chief minister's residence, prompting police action. The protesters had gathered at Gandhi Maidan despite warnings from the administration that any demonstration would be considered unauthorized. The district police registered an FIR against 21 known persons, including Prashant Kishore, for organizing the gathering. The protest is ongoing, with students seeking the cancellation of the exam due to allegations of a question paper leak. The government has agreed to meet with a five-member delegation of BPSC aspirants.
Fair trade regulator CCI has rejected allegations against Volkswagen.
India face competition from Saudi Arabia, Qatar and Turkey, who are positioning themselves as strong contenders to host the 2036 Olympics.
'For politicians, winning the next election has become more important than economic stability of the country and broader national interest.'
The Competition Commission is understood to have issued demand notices to Google for its failure to pay within the stipulated time the penalties imposed on the internet major for anti-competitive practices, according to sources. Google has filed appeals before the National Company Law Appellate Tribunal (NCLAT) against the Competition Commission of India's (CCI) two orders in October. The appeals are yet to be heard by the tribunal.
The National Company Law Appellate Tribunal on Wednesday declined to grant interim relief to Google seeking a stay on competition watchdog CCI's penalty of Rs 936.44 crore on the tech giant for abusing its dominant position with respect to Play Store policies. The appellate tribunal has directed Google to deposit 10 per cent of the fine before its registry in the next four weeks. A two-member bench comprising Justice Rakesh Kumar and Alok Srivastava issued notices to the Competition Commission of India (CCI) and other respondents and posted the matter for hearing on April 17, 2023.
