The Supreme Court Wednesday sought a response from the Future group on Amazon's plea 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. A bench comprising Chief Justice N V Ramana and Justices A S Bopanna and Hima Kohli issued notices to the Future group firms, Future Coupons Private Ltd (FCPL) and Future Retail Ltd (FRL) and said that it will hear the matter on February 23 "without any adjournment". The Delhi high court on January 5 had stayed the Amazon-Future arbitration which is going on before a three-member arbitral tribunal over the latter's Rs 24,500-crore deal with Reliance.
This is the third such matter relating to Google's AdWords to come under the lens of CCI in the recent past.
Ending its uncomfortable journey in India after eight years, Malaysia-based AirAsia Group on Wednesday said it has exited AirAsia India by selling its remaining 16.67 per cent stake to Tata Group-owned Air India for Rs 155.64 crore. Later in the day, Air India said it has begun the process of creating a single low-cost carrier subsidiary by merging AirAsia India and Air India Express. A working group consisting AirAsia India CEO Sunil Bhaskaran and Air India Express CEO Aloke Singh has been formed for the two carriers' integration, which is expected to take approximately 12 months, it added.
The Planning Commission has not been central to the policy making process since the mid-1960s, says Nitin Desai.
A new "unreturnable" spin-serve had caught the attention of the world's top badminton players with even the Indian doubles shuttlers putting in the hard yards to master this latest skill, which many believe can give "unfair" advantage to the players.
Indian cricket board's granting of IPL franchise rights on the basis of perpetual agreements creates barriers to potential entries, adversely impacting competition, fair trade regulator CCI has said.
The project is the largest investment undertaken by any private sector entity in CSP in India.
Will Vijay will go the most successful MGR/Jayalalithaa way, or that of Vijayakanth, Seeman or Kamalahaasan, or will he end up as another Rajinikanth who cries wolf at the last minute and quits the scene even before it all had really begun, asks N Sathiya Moorthy.
Grasim Industries has announced a rights issue of around Rs 4,000 crore with the promoters committed to fully subscribing to their entitlements and to covering any unsubscribed portion. This is to part-fund capital expenditure (capex) of Rs 10,000 crore in a new foray into the paints business. The company has already invested Rs 3,640 crore in the paints business (by Q1FY24). The management has outlined a capex of Rs 5,700 crore for FY24, which includes Rs 4,280 crore allocated for the paints business, of which Rs 1,050 crore has already been spent in Q1FY24.
Throughout 2022, China turned to the PLA as an increasingly capable instrument of Statecraft, strengthening its ability to 'fight and win wars' against a 'strong enemy', points out Ajai Shukla.
Suggests that companies should have a Competition Compliance Programme.
It had meant nothing but moments of intimacy, sweet but transient moments. An intriguing excerpt from Manju Kapur's new novel The Gallery.
In a 26-page order, the fair trade regulator said there exists a prima-facie case for investigation against MMT-Go and OYO for alleged violation of the provisions of Section 3(4) of the Competition Act.
Maintaining that the aviation sector was going through a 'bit of turmoil', he said there was a volatility in demand and supply, mainly on account of two large airlines reducing capacity for certain reasons.
Competition Commission has held on to its observation about Etihad gaining joint control in Jet Airways and "significant" rights to appoint directors with a 24% stake purchase, while rejecting a plea to "rectify" its order that approved the deal earlier this month.
Builders were questioned on unfair trade practices.
The probe follows a complaint by Sharavan Yadav, Amitsinh Tanwar and Lavmeet Katariya -- international volleyball players who have represented India in numerous tournaments, according to an order by the Competition Commission of India.
A customer has filed a complaint before the Commission under section 4 of the Competition Act 2002
The chairman of the JSW Group of companies, Sajjan Jindal, whose stake in the group is valued at $14.5 billion (Rs 1.1 trillion), is betting $4.5 billion of his personal fortune in the firm's bid for Ambuja Cements. According to bankers, Jindal's contribution will be a combination of share sale and debts raised by pledging the stake of the target entities with private equities. The JSW Group chairman has offered $7 billion for Ambuja Cements, including $2.5 billion of investments from private equities, the Financial Times reported on Tuesday.
The Competition Commission of India (CCI) on Monday ordered a detailed probe against internet giant Google for alleged unfair business practices with respect to Google Pay as well as Google Play's payment system. Google Pay is a popular digital payments platform while Google Play is the app store on its Android ecosystem.
The Competition Commission on Thursday imposed Rs 1 crore fine on Abu Dhabi-based Etihad for non-disclosure of full information in the course of seeking approval for its purchase of 24 per cent stake in Jet Airways.
Its success script: Investing more in local content ecosystem; growing its partnership footprint.
Reversing the burden of evidence means that the principle of innocent until proven guilty does not apply. It is exactly the opposite: Guilty as charged, until you can convince the judges of the contrary, points out Shekhar Gupta.
The Competition Commission of India (CCI) is studying whether a particular airline has a dominant market share on various routes or city pairs which might lead to anti-competitive practices.
Khan was convicted in the Toshakhana case which was filed last year on the complaint of the Election Commission of Pakistan (ECP) which had earlier disqualified him in the same case.
Singapore-based e-commerce platform Shopee - that launched in India only in December 2021 - has decided to close operations in the country. The official reason given by Shopee, which is controlled by NYSE-listed Sea Ltd, is changing global sentiments. In a statement, it said, "In view of the global market uncertainties, we have decided to close risks of our early-stage Shopee India initiative." The e-commerce platform has been hit by growing opposition from trade associations led by Praveen Khandelwal as well as homegrown social commerce start-ups.
There is some good news for vehicle owners. The repair and maintenance costs on their cars could come down soon if a report on monopolistic behaviour of automobile makers is accepted by the country's anti-trust watchdog.
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 National Company Law Appellate Tribunal (NCLAT) on Thursday issued notices over the petition filed by e-commerce major Amazon, challenging a recent order passed by the fair trade regulator CCI that suspended the over-two-year-old approval for its deal with Future Coupons Pvt Ltd (FCPL). The appellate tribunal has directed the Competition Commission of India (CCI) and FCPL to file their reply in next 10 days and Amazon to file a rejoinder over it. It has directed to list the matter on February 2, for next hearing.
Internet major Google is facing probes by fair trade regulators in India, Europe and three other jurisdictions for alleged anti-competitive practices.
Titan posted better than expected revenue growth in the March quarter of the financial year 2022-23 (Q4FY23), powered by strong demand trends in the jewellery and watch segment. Standalone jewellery sales for the firm were up 24 per cent year-on-year (YoY) on a slightly lower base and aided by like-to-like growth of 19 per cent. The company highlighted that new buyer growth was at 15 per cent while average ticket size was up 8 per cent.
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.
Sun gets RBI nod for transfer of Ranbaxy overseas investments.
Corporate affairs ministry mulls changes in Competition Act, may provide different threshold for various sectors.
The Delhi high court on Tuesday dismissed the pleas moved by Future Group companies seeking a direction to the arbitration tribunal, which is adjudicating on Amazon's objections against their deal with Reliance, to take a decision on their application for the termination of the arbitration proceedings before moving any further. "Both the petitions are dismissed," said Justice Amit Bansal, who had reserved the order on the petitions filed by Future Coupons Private Limited (FCPL) and Future Retail Limited (FRL) on January 3. The judge said the orders would be uploaded on the website of the high court shortly.
Both the NCLT and NCLAT are getting permanent heads after more than one-and-a-half years following the retirement of their respective incumbents.
JSW had moved competition watchdog alleging Asian Paints threatened various dealers from dealing with the company.
India's anti-trust body CCI, which would ultimately replace MRTPC, is an independent body responsible for investigating mergers, market shares and conditions and the regulation of firms. Section 66 of the Competition Act deals with repealing and dissolution of the MRTPC Act, 1969. With the operationalisation of CCI, MRTPC was supposed to stop entertaining new cases and was to deal with pending cases for two years before being completely dissolved.
The Competition Commission of India passed a supplementary order last week to modify the agreement between DLF and its apartment buyers, pursuant to a direction from Competition Appellate Tribunal that is hearing the company's appeal against monetary penalty and other sanctions imposed on it by CCI for abuse of market dominance.
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