New regime less harsh than the draft guidelines, has a host of exemptions.
The Competition Commission of India has notified Sections 5 and 6 of the Competition Commission Act, 2002, dealing with mergers and acquisition last month, but it is yet to finalise the rules.
The Supreme Court has dismissed an appeal filed the customs department against Adani Power Maharashtra Limited (APML), Adani Power Rajasthan Limited (APRL) and others in a case pertaining to alleged over-valuation of imported goods. "We have heard Balbir Singh, Additional Solicitor General appearing for the appellant(s), and Mukul Rohatgi, senior counsel appearing for the respondents, at length. "We are of the considered opinion that the matters are concluded by the findings of fact recorded by the authorities below and the impugned order(s) does not require any interference at our behest.
E-commerce major Amazon on Wednesday said it will acquire Prione Business Services - its joint venture firm with Catamaran, subject to requisite regulatory approvals. Prione Business Services was formed in 2014 and was coming up for renewal on May 19, 2022. In August this year, Amazon and NR Narayana Murthy's Catamaran announced that they will not continue their JV beyond May 2022. The two parties had not disclosed the reason behind the decision.
The requirement to seek government permission for acquisitions by companies having over 25 per cent market share may be dispensed with.
It is recommended to allocate a minimum of 3 to 4 hours for studying over the weekdays and maximise effort during the weekends, suggests Sarmad Mehraj, teacher and VP, product (UPSC) at BYJU'S.
Kingfisher Airlines had moved the Supreme Court against a probe into its two-year-old strategic alliance with Jet Airways.
Almost a year after announcing a $4 billion deal, Sun Pharmaceutical Industries on Tuesday said merger of Ranbaxy with itself has been 'consummated.'
Provisions in the Central GST Act say reduction in GST rates or the benefit of ITC must be passed on to consumers.
Amid a debate on the freebies, the Election Commission on Tuesday proposed amending the model code to ask political parties to provide authentic information to voters on the financial viability of their poll promises.
The Competition Appellate Tribunal said the regulator relied on 'legally unsustainable' information downloaded from internet for nailing the BCCI.
US e-commerce giant Amazon has written to the independent directors of Future Retail Limited (FRL), including Gagan Singh, Ravindra Dhariwal and Jacob Mathew, and its audit committee, providing data and alleging that there have been significant financial irregularities to the prejudice of public shareholders, banks, creditors, and third-party suppliers. Amazon has said this warrants a thorough and independent examination of all relevant facts and related-party transactions, including of past financial years, by an independent agency. Separately, Amazon has written to Securities and Exchange Board of India Chairman Ajay Tyagi, seeking the withdrawal of the regulator's conditional approval granted to FRL related to the merger deal between the Future group and Reliance.
Food delivery apps Zomato and Swiggy reported a nationwide outage on Wednesday. Both the platforms witnessed technical glitches and were unresponsive for almost an hour. Downdetector, a platform that collects status reports from a series of sources, recorded about 3,619 reports of outage against Zomato at 2:05 PM and about 771 reports of outage against Swiggy at around 2:21 PM. According to the sources, the outage was caused by Amazon Web Services (AWS), a cloud-services platform, which runs both platforms. Though Swiggy and Zomato are working now, some customers reported that the issue has not been solved completely and they are not able to place orders and there are payment related issues.
Mergers and acquisitions would continue to create big corporate conglomerates but there is a need to draw a red line to avoid dominance and curbing of open competition in market by them, he said while addressing a conference on competition issues in New Delhi.
Reportedly, as per SAI, the complainant was immediately brought back to India mid-way through her training to ensure her safety. The SAI has prima facie found the allegation as true, it said.
The National Company Law Appellate Tribunal (NCLAT) will hear e-commerce major Amazon's interim plea on February 14, seeking a stay over the order passed by fair trade regulator CCI that had suspended the over two-year-old approval for its deal with Future Coupons Pvt Ltd (FCPL). A three-member bench on Monday directed to list Amazon's plea on February 14 to pass an interim order and stay the operations of the order passed by the Competition Commission of India (CCI) in December last year till it finally decides the matter. "The registry is directed to list on February 14 for hearing," said the NCLAT bench. The appellate tribunal also directed to list the appeals filed by the Confederation of All India Traders (CAIT) and All India Consumer Product Distributors Federation on the same date.
Fair trade regulator CCI has approved private sector lender Ratnakar Bank' proposal to buy Royal Bank of Scotland's credit card business, mortgage portfolio and banking operation in the country, saying the deal will not have an adverse impact on competition.
In August, the Supreme Court had said that the total amount should be deposited within 3 months with its Registry, pending the outcome of the appeal filed by the DLF against the May 19 order of Competition Appellate Tribunal's upholding the penalty imposed by CCI.
The Competition Commission of India and the US Federal Trade Commission are yet to give their nod to the biggest pharma merger and acquisition deal this year in the Asia-Pacific region.
Warner has not scored a Test century in almost three years
'With the current situation in the global job market, students come back with an added burden of educational loans.'
Maharashtra fell behind Gujarat in attracting foreign investment during the MVA's tenure but in the next two years the present government would take Maharashtra ahead, said Fadnavis.
Future Retail on Saturday said it has missed the due date for payment of Rs 3,494.56 crore to banks and lenders as it could not sell assets due to its ongoing litigation with amazon, impacting its monetisation plans. Future Retail had last year entered into a one-time restructuring (OTR) scheme for COVID-19 hit companies with a consortium of banks and lenders and was to discharge "an aggregate amount of Rs 3,494.56 crore" on or before December 31, 2021. Kishore Biyani-led Future group firm would be "co-operating for completing the monetisation of the specified business within next 30 days" as per directions of the banks to resolve the current situation, said a regulatory filing by Future Retail.
Cricket has taken many steps forward towards excellence and fairness. Electoral politics has a lot of catching up to do, points out Rajeev Bhargava in his fascinating new book Between Hope and Despair.
The number of cases being admitted and investigated by the Competition Commission of India has fallen drastically in recent years.
A fierce competition among parties to offer freebies and guarantees, a scramble for tribal, OBC, women votes and a touch of Hindutva -- all have combined to make the Madhya Pradesh assembly polls a high-stakes battle with main rivals BJP and the Congress pulling out all the stops to gain power.
The Competition Commission of India, the body that is supposed to take action against any abuse of market dominance, says it is helpless. FM had accused the domestic cement and steel industry of forming cartels to exploit consumers. He also warned the industry that if they did not mend their ways, the government would not hesitate to take tough measures and break the logjam. CCI was supposed to prohibit anti-competitive agreements, abuse by dominant players and regulate M&As.
Kishore Biyani-led Future Retail Ltd on Thursday accused e-commerce giant Amazon of adopting a media strategy of "having every development reported and converted into a line of communication with stock exchanges" regarding the Amazon-Future Coupons' arbitration proceedings in Singapore. The Court of Singapore International Arbitration Centre (SIAC) had turned down a plea of Future Retail Ltd (FRL) to be excluded from being a party to arbitration. In a regulatory filing disclosing the development, FRL said,"...this disclosure is being made out of abundant caution to avoid any speculation given Amazon's media strategy of having every development reported and converted into a line of communication with stock exchanges."
Around 300 people, mostly tourists, are stuck in camps at Chandertal, located at an altitude of 14,100 feet, following rain and snowfall in the region.
The report urged the top court that the matter may be taken up by the petitioners and other parties with utmost sensitivity as any misinformation or rumour or even suspicion may aggravate the situation in Manipur, where things are slowly returning to normal with the concerted efforts of the central and the state governments.
In November, Kotak Mahindra Bank had announced the buyout of ING Vysya Bank in an all-stock deal valued at Rs 15,000 crore (Rs 150 billion).
A bench of Chief Justice DY Chandrachud and justices PS Narasimha and JB Pardiwala passed the order after hearing an application of Uttar Pradesh government seeking more time to install and operationalise 100 per cent STP coverage in the state.
Prioritising investor protection in the backdrop of corporate frauds and failures worldwide, Company Affairs Ministry said it will expedite the process of putting in place Competition Commission, NCLT and a comprehensive Companies Act.
The automaker was found to have engaged in anti-competitive practices.
Debt-ridden mortgage firm DHFL's shares would be delisted from stock exchanges post acquisition by Piramal Capital and Housing Finance, which has emerged as the successful bidder for the company. As part of resolution process under the Insolvency and Bankruptcy Code (IBC), lenders led by Union Bank of India in January this year favoured the bid by Piramal Capital and Housing Finance to take over the beleaguered housing finance firm. According to sources, shares of DHFL would be delisted post acquisition as per the IBC guidelines and Sebi delisting norms.
Nowadays, our politics is habituated to sitting on a high pedestal, hobnobbing with world leaders, generating impressions of a superpower and returning to earth for the purpose of winning elections. In contrast, the yatra never left earth, observes Shyam G Menon.
The Election Commission on Friday cited convention followed in 2017 for not announcing the assembly polls in Himachal Pradesh and Gujarat together and underlined that the model code this time has not been "unnecessarily extended".
