Amazon on Wednesday filed a writ petition in the Delhi high court seeking clarifications on the scope of Enforcement Directorate's (ED) investigations into alleged foreign exchange violations by the company, according to sources. Last month, Amazon had said it was in receipt of summons by the ED in connection with its deal with the Future Group. According to sources, Amazon in its filing said the ED is expanding the scope of its investigations by seeking privileged and confidential legal advice it received in ordinary course of business since it started marketplace operations and that such requests aren't related to the agency's probe into the Future-Amazon deal.
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.
Amazon violated FDI norms, allege Future Retail independent directors.
'We went from zero to about 10 million users in three months. Paytm came out with the wallet play and we came out with the UPI play.'
Suggests that companies should have a Competition Compliance Programme.
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.
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.
US e-commerce major Amazon told the Supreme Court on Tuesday that the talks with the Future Group to resolve the dispute over Future Retail's merger deal with Reliance Retail have failed and sought intervention to ensure that the stores of FRL are not taken over. A bench headed by Chief Justice N V Ramana, on March 3, had acceded to Amazon's request and granted 10 days to it for exploring the possibility of resolving the dispute through dialogue with the Future Group. The bench, also comprising justices A S Bopanna and Hima Kohli, is hearing Amazon's appeal against the January 5 order of the Delhi high court, which stayed the arbitration proceedings before the arbitral tribunal over Future Retail's merger deal with Reliance Retail. "It often happens that sometimes, we hope very positively but in the end, it is not positive at all.
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.
Despite declining by three percentage points in 2022-23 (FY23) compared to FY19, Odisha's unemployment rate remains higher than the average in India.
A customer has filed a complaint before the Commission under section 4 of the Competition Act 2002
Vijay has a lot of young and middle-aged women fans, but as voters, they are possibly now with the DMK, or remain with the AIADMK. Recapturing this constituency would have helped Vijay's political launch and the GOAT script and dialogues could have gone a long way in helping out. But the kind of script and screenplay and the unusually and equally unnecessary long run-time (3 hours, 3 minutes) that GOAT offers takes the film experience over the heads of those that are not familiar with secret agents and uranium theft in Tamil cinema, observes N Sathiya Moorthy.
Dropping references to the demolition of Babri Masjid in Ayodhya, the killing of Muslims in Gujarat riots and Hindutva, and tweaking the reference to Manipur's merger with India are among the latest set of revisions made public by the National Council of Educational Research and Training (NCERT) in its textbooks.
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.
The National Company Law Tribunal's (NCLT's) declaration that Zee Entertainment is bankrupt adds a new measure of uncertainty to the proposed merger with Sony. Three entities -- Aditya Birla Finance, IndusInd Bank and YES Bank -- have filed appeals in the NCLT for recoveries of Rs 130 crore, Rs 90 crore and Rs 540 crore, respectively. The money was borrowed by a related party - Siti cable - and not returned. Zee was a corporate guarantor.
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.
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 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.
Manavjit set to be disqualified from Olympic Qualifiers after his gun stock fails test
Internet major Google is facing probes by fair trade regulators in India, Europe and three other jurisdictions for alleged anti-competitive practices.
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.
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.
Most of the pharma units are failing in documentation, and validation processes, and many don't have full-fledged quality control laboratories.
The Information Support Force was regarded as the revised version of the PLA's Strategic Support Force, established in 2015 by the Chinese military to deal with space, cyber, political and electronic warfare to fight what was described as "informationised wars".
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 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.
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.
However, in the last few sessions, the stock of Mukesh Ambani-controlled Reliance Industries Limited (RIL), hit its 52-week low level of Rs 2269.75, and has been one of the worst performers among the Sensex pack thus far in calendar year 2023 (CY23). Thus far in CY23, RIL has tanked nearly 11 per cent as compared to a fall of around 5 per cent in the S&P BSE Sensex. The fall in the stock, according to Gaurang Shah, senior vice-president at Geojit Financial Services is mostly due to the overall dip in the market sentiment, which in turn has impacted large-caps, including RIL.
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.
NRAI has contested the disqualification of trap marksman Manavjit Singh Sandhu, who was barred from competition at the Asia Olympic Qualifiers because of "faulty" gun stock.
Diktat to four general insurance companies says 'avoid competition' in any corporate or group account
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.
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.
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.'
Competition watchdog CCI has asked about two dozen banks and housing finance companies, including HDFC, ICICI Bank, and LICHF, to explain their imposing penalty on borrowers for pre-payment of home loans. The Competition Commission of India, according to official sources, has sent notices to major home loan players after examining a report of Director General (Investigations) which found evidences against banks for misusing their dominant position.
Sunil Bhaskaran, AirAsia India's chief executive officer (CEO) and managing director (MD), is the front-runner to head the low-cost carrier that will take birth after the merger of Air India Express and AirAsia India, sources said. In a show of confidence, the airline's board extended Bhaskaran's tenure by three years -- until March 2025 -- in a meeting held earlier this year, according to the documents reviewed by Business Standard. Moreover, AirAsia India's board of directors has increased Bhaskaran's salary twice in 2022 -- first in January by 5 per cent and then in June by 7 per cent, the documents showed.
The CCI said that the complaint did not fall under any area that violates Competition rules.
