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.
Internet major Google is facing probes by fair trade regulators in India, Europe and three other jurisdictions for alleged anti-competitive 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.
After failing to get a court order to block an antitrust ruling, Google on Wednesday said it will allow users in India to choose default search engine on Android-based smartphones. As part of the key changes the tech giant will make to its platforms and business in India in the aftermath of the landmark CCI ruling, OEMs (Original Equipment Manufacturers) will be able to license individual Google apps for pre-installation on their devices. Google is also updating the Android compatibility requirements to introduce changes for partners to build non-compatible or forked variants, the company said in its blog.
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.
In a setback to Tata Power, the Supreme Court on Wednesday dismissed the company's challenge to the Maharashtra Electricity Regulatory Commission's (MERC's) decision to award a Rs 7,000-crore transmission project near Mumbai on a nomination basis to Adani Electricity. The court upheld the order by the Appellate Tribunal for Electricity (APTEL) in this case and directed all State Electricity Regulatory Commissions to frame guidelines on tariff determination in accordance with Section 61 of the Electricity Act and the national policy. The verdict has implications for the Mumbai power market, said Ashok Pendse, an energy expert based in the city.
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.
The new mantra was to align Apple's ambition with the government's, focusing on Modi's favourite themes of Make in India, employment generation and India as a high-tech export hub.
Titan's October-December quarter (Q3) business update claims 22-23 per cent revenue growth in the standalone jewellery sales (excluding bullion sales), implying a 4-year compound annual growth rate (CAGR) of 21.3 per cent. Store additions also looked healthy, with 21 new Tanishq stores opened in Q3, taking the total count to 466 (+43 in 9 months of FY24) including two in the US and one in Singapore. Titan added 90 stores in Q3, pushing its total retail outlets to 2,949 (including CaratLane).
The agency has also summoned Rajasthan Chief Minister Ashok Gehlot's son Vaibhav Gehlot for questioning in a case related to alleged contravention of the foreign exchange law, official sources said on Thursday.
Diktat to four general insurance companies says 'avoid competition' in any corporate or group account
'Adani can attract vessels at a much lower cost to Vizhinjam as he has the financial muscle to do so.'
Bangladeshis on Sunday began voting in the general elections expected to be won by Prime Minister Sheikh Hasina in the absence of the main Opposition Bangladesh Nationalist Party (BNP) which is boycotting it.
Byju's is set to go the way of Housing.com and Zilingo. It is only a matter of time. Indeed, the coup attempted by investors will ensure that, says Debashis Basu.
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.
The CCI said that the complaint did not fall under any area that violates Competition rules.
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.
Google has also come under the scanner of competition watchdogs in other countries as well.
Indications are that the DMK combine will win more seats than the AIADMK and BJP, but is facing a tough fight in about half a dozen from the rest, predicts N Sathiya Moorthy of the electoral contest in Tamil Nadu.
CCI to examine competition part of deals, RBI prudential aspects.
The deal is the first major bank takeover in 4 years
The Department of Industrial Policy & Promotion and Planning Commission member Arun Maira are sticking to their guns on foreign direct investment in the pharmaceutical sector.
The spokesperson in the Ministry of External Affairs said diplomats deal with a variety of issues and it was normal for them to collect information, assess them and send report to the government back home.
After hearing Kingfisher's plea, the COMPAT observed that the CCI had acted beyond its scope in the matter and set aside the penalty.
Competition watchdog CCI may take only 30 days to clear high-voltage corporate mergers and acquisitions, a move that will address one of India Inc's major contentions.
The main Opposition BNP of former premier Khaleda Zia, 78, who is under house arrest, is boycotting the elections amidst violence.
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.
CCI is India's competition regulator. The undertaking will be a part of the CCI's proposed 'competition compliance' programme.
Typically, CCI takes decisions related to M&As within 30 days, though it can do so within 210 days of the filing of application.
The Enforcement Directorate (ED) on Wednesday produced WhatsApp chat records between former Jharkhand chief minister Hemant Soren and a close associate where information related to transfer and posting of state government officials involving 'huge amount of money' is alleged to have been discussed.
The CCI says that cement firms met regularly to fix prices, control market share and hold back supply.
The newest entrant to the Rs 46-trillion mutual fund (MF) space - Zerodha - plans to focus strictly on the low-cost passive segment and offer its products solely through the commission-free digital route, as it aims to replicate its broking success in the MF space. "We will offer an array of exchange-traded funds (ETFs) and index funds that would help investors take varied exposures and build portfolios based on their financial needs and risk tolerance. "Zerodha Fund House (FH) products will be exclusively distributed online and available as direct plans to engage directly with individual investors and consumers, taking advantage of the pronounced shift from physical to digital interactions," said Vishal Jain, chief executive officer, Zerodha FH.
Within a week of the CBI arresting senior bankers in the housing finance racket, the competition watchdog CCI on Monday said 11 real estate companies are already under its scanner.
JSW had moved competition watchdog alleging Asian Paints threatened various dealers from dealing with the company.
Dr Samir Shah, who was honoured with a CBE by Queen Elizabeth II in 2019 for services to television and heritage, will replace Richard Sharp, who had been forced to resign after his communication with former prime minister Boris Johnson came under scrutiny.
L&T has acquired Cafe Coffee Day-owner V G Siddhartha's 20.32 per cent stake in Mindtree and has also placed an order with brokers to pick up another 15 per cent shares from the open market.
