Some regulators are already unleashing their own algorithms to track and understand pricing software of e-commerce companies. While companies collude on pricing, governments are collaborating on curbing online malpractices. The legal liability of an algorithmic decision will be interpreted as legal liability of an entity of an individual. Anti-trust activities of algorithms will not go unchallenged in any economy.
The share of Life Insurance Corporation of India (LIC) in monthly new business premium (NBP) in the life insurance sector declined to 58.50 per cent in September 2023 from 68.25 per cent in September 2022 -- a drop of 975 basis points -- owing to shortcomings in the product and distribution side of business. However, the market share saw a marginal uptick from the 57.37 per cent recorded in August this year. According to the monthly business data released for September 2023 by the Life Insurance Council, the NBP of LIC up to September 2023 stood at Rs 92,462.62 crore as compared to about Rs 1.25 trillion in the same period a year ago.
The year 2015 will be a tough year for mergers and acquisition.
Portfolio management services (PMS), catering to higher networth individuals (HNIs), are facing tough competition from emerging alternative investment funds (AIFs), evident from their dwindling client base. In May, the number of clients for the industry stood at 125,390, down 20,528 in two months, shows data from the Securities and Exchange Board of India (Sebi). "PMS managers also have a high active ratio, which means their portfolios are quite differently positioned and more actively managed, compared to the benchmark, which is also a highlight for long-term investors.
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.
Domestic institutional shareholders, who together hold around 39 per cent stake in the National Stock Exchange, are unhappy with the exchange's strategy of not charging transaction fees in the currency derivative segment.
Future Retail and its promoters have filed appeals before the division bench of the Delhi high court challenging the order passed on Tuesday that dismissed the Group's petitions for termination of the Amazon arbitration. The Delhi high court on Tuesday dismissed the pleas moved by Future Group companies seeking a direction to the arbitration tribunal, adjudicating Amazon's objections against Future Group's deal with Reliance, to take a decision on their application for terminating the arbitration proceedings before moving any further.
As per the Competition Act, no merger should create entry barriers for competition.
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.
The investigation wing of the Competition Commission of India (CCI) has cleared nine foreign airlines of cartelisation and abuse of dominant position charges, pressed by the Travel Agents Association of India (TAAI).
Narendra Modi is India's most successful prime minister and the greatest global leader of current generation, billionaire Mukesh Ambani said on Wednesday as he flaunted his group Reliance Industries' Gujarati heritage and its over USD 150 billion (Rs 12 lakh crore) investment in last 10 years.
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.
Are the big five using their dominance to shut out rivals? That is the key question, says Prosenjit Datta.
The requirement to seek government permission for acquisitions by companies having over 25 per cent market share may be dispensed with.
How dominant are Chinese firms in India's sub-Rs 10,000 mobile device market? The question has become relevant as the government has been thinking of reserving this price segment for domestic players who have not been able to battle the Chinese onslaught. However, telecom firms and others are concerned that such a move could stymie the effort to build affordable 5G phones in the sub-Rs 10,000 category.
Kingfisher Airlines had moved the Supreme Court against a probe into its two-year-old strategic alliance with Jet Airways.
Future Retail has shut most of its Big Bazaar stores since February 25 (Friday) and its website is also down as it missed lease payments to Reliance Industries (RIL). RIL will open most of the 200 Future Retail stores as Reliance stores in the next week and it is in the process of taking stock, re-branding, and transferring 30,000 Future Retail and Future Lifestyle employees on to the rolls of its manpower and staffing firm Reliance SMSL, according to a source. The first tranche of stores are set to be opened as early as in the next two days.
Almost a year after announcing a $4 billion deal, Sun Pharmaceutical Industries on Tuesday said merger of Ranbaxy with itself has been 'consummated.'
The Competition Appellate Tribunal said the regulator relied on 'legally unsustainable' information downloaded from internet for nailing the BCCI.
Amazon on Thursday said it has received a show-cause notice from the Competition Commission of India (CCI) based on a complaint filed by Future Group, with which the e-commerce major is locked in a legal battle. The American company and Future Group - one of the biggest retail companies in the country - have been engaged in a bitter tussle after the latter entered into a Rs 24,713 crore deal with Reliance Industries for its retail, logistics and warehousing assets. "We are in receipt of a show-cause notice from the CCI based on the complaint filed by Future as a part of an ongoing dispute.
Reliance Industries Ltd on Friday reported a 9 per cent rise in its December quarter net profit as a planned maintenance-induced weakness in oil business earnings was offset by stability in retail and telecom verticals. The oil-to-retail-to-telecom conglomerate's consolidated net profit of Rs 17,265 crore, or Rs 25.52 per share, in October-December - the third quarter of the current 2023-24 fiscal - was 9.3 per cent higher than Rs 15,792 crore, or Rs 23.19 a share, earning a year back, according to a company statement. Quarter-on-quarter, the profit was lower when compared to Rs 17,394 crore earnings in the preceding three months ended September 30.
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.
India's largest cement firm, Ultratech Cement, has joined the race to acquire the Holcim stake in Ambuja Cements and its subsidiary, ACC. UltraTech - part of the Aditya Birla Group - submitted a non-binding bid on Wednesday. Swiss multinational Holcim, which manufactures building material, is exiting India by selling its 63.19% stake in Ambuja Cements. According to banking sources, UltraTech has submitted a plan to Holcim, outlining divestiture details that would meet the norms set by anti-trust body Competition Commission of India.
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.
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.
Maharashtra cabinet minister Chhagan Bhujbal has demanded a stay on the Kunbi caste certificates issued to Marathas following their latest agitation for reservation and scrapping of the Justice (retired) Sandeep Shinde committee formed over the quota issue.
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.
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.
Any move of the present government to appease the Marathas may boomerang. Eknath Shinde is a worried man with the agitation not having an easy solution, notes Ramesh Menon.
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 number of cases being admitted and investigated by the Competition Commission of India has fallen drastically in recent years.
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.
Prime Minister Narendra Modi on Wednesday said the world looks at India as an important pillar of stability, a trusted friend, an engine of growth in the global economy, a technology hub for finding solutions and a powerhouse of talented youth. He also said that in the rapidly changing world order, India is moving forward as 'vishwa mitra' (friend of the world). Speaking at the inauguration of the 10th edition of the Vibrant Gujarat Global Summit, which saw participation of state hea
'The first duty of the government is to learn lessons from a bad experience and course correct. It's a pity that the government is making policy without looking at evidence and differentiating between immediate and urgent.'
Kerala's election discourse operates surreptitiously. Its explicit face focuses on important national and local issues. At the same time, it seeks to secure apt communal equations to ensure votes, notes Shyam G Menon.
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.
