Sun Pharmaceutical Industries on Tuesday said its arm DUSA Pharmaceuticals Inc has reached settlement with Biofrontera to resolve a litigation over misappropriation of trade secrets and unfair practice, following which DUSA will receive $22.5 million (nearly Rs 170 crore). In 2018, DUSA Pharmaceuticals had filed a suit at the US District Court of Massachusetts against Biofrontera Inc Biofrontera Bioscience GmbH, Biofrontera Pharma GmbH, and Biofrontera AG (together known as Biofrontera) alleging "misappropriation of trade secrets, tortious interference of contract and unfair trade practices".
Strengthening of rules governing insider trading is among the key proposals in the agenda set by Sebi for 2018-19, along with making improvement to the Prohibition of Insider Trading Regulations (PIT) and Prohibition of Fraudulent and Unfair Trade Practices regulations.
The warning by the anti-trust watchdog has come days ahead of Amazon founder Jeff Bezos' India visit, about which the Seattle-headquartered company has been tight-lipped. Sources in the know indicated that Bezos, coming on a short trip, has sought a meeting with Prime Minister Narendra Modi.
Sebi on Friday barred fugitive businessman Vijay Mallya from the securities markets and restrained him from associating with any listed firm for three years in the matter of routing of funds to the Indian securities market using overseas bank accounts with UBS AG. The Indian government has been attempting to extradite Mallya from the United Kingdom to face fraud charges related to his now-defunct company Kingfisher Airlines. Mallya has been living in the United Kingdom since March 2016.
Markets regulator Sebi has barred US-based Jane Street Group from the securities markets and directed the group to disgorge unlawful gains of Rs 4,843 crore for allegedly manipulating stock indices through positions taken in derivatives segment. This could be the highest disgorgement amount ever directed by the Securities and Exchange Board of India (Sebi).
Sebi on Monday barred total 85 entities, including Sunrise Asian Ltd, from the capital markets for up to one year for manipulating the company's share price. In its order, the regulator restrained Sunrise Asian and its then five directors from the capital markets for one year and the 79 connected entities for six months. The Securities and Exchange Board of India (Sebi) had conducted an investigation in the scrip of Sunrise Asian for the period from October 16, 2012 to September 30, 2015, based on a reference received from the Principal Director of Income Tax (Investigation), Kolkata.
MRTPC disposed of the one-year-old legal battle between the two auto giants, in which the Korean car maker accused MSI (formerly Maruti Udyog Ltd) of indulging in unfair trade practice by issuing "misleading" advertisements.
The apex consumer court on Monday issued notice to Nestle India Limited on a Rs 640-crore or Rs 6.40 billion suit against it by the Centre.
The Monopolies and Restrictive Trade Practices Commission has initiated two cases of unfair trade practice against low-cost carrier Spicejet.
A National Commission order held that the buyer was the borrower and so the bank was entitled to demand the EMI payments from him.
The commission has told SP Jain Management school to refund fees to student who later took admission in IIM-Lucknow.
The Securities Appellate Tribunal (SAT) has set aside capital markets regulator Sebi's order that imposed a penalty of Rs 5.25 crore on Cairn India for making a misleading announcement regarding buyback of shares in 2014. Cairn India, which was merged with Vedanta Ltd in 2017, was accused of making a misleading public announcement designed to influence investors' decisions. "We hold that the violations of provisions of... the Prohibition of Fraudulent and Unfair Trade Practices (PFUTP) Regulations and... the Buyback Regulations are not proved against the company (Vedanta)," a bench consisting of Justice Tarun Agarwala and presiding officer Meera Swarup said.
"There are complaints and reports in social media and media about overcharging by some five-star hotels for items like bananas and eggs. This is a serious and unfortunate matter," Paswan told reporters in New Delhi.
As it battles pre-IPO hiccups in a volatile market, construction major DLF was caught on the wrong side, the second time in the last three months, by Monopolies and Restrictive Trade Practices Commission who found the builder guilty of "unfair trade
The Board of Control for Cricket in India is "very unhappy" with Fair trade regulator Competition Commission of India's decision to impose a hefty penalty of Rs 52.24 crore for indulging in anti-competitive practices and is planning to seek legal recourse in this regard.
Charging China with following unfair trade practices, an influential US Senator has proposed a bill of rights to protect the American workforce from unfair competition in a global economy.
Amazon, however, claimed that it is just a service provider and doesn't own goods at any point of sale due to which it is not liable to pay this tax.
The 50-share NSE Nifty plunged 98.65 points, or 0.87 per cent, to end at 11,278.90.
The Competition Commission of India on Tuesday approved Singapore's Temasek Holdings proposed acquisition of a minority stake in Haldiram Snacks Food. Temasek Holdings through its arm Jongsong Investments Pte is acquiring a stake in the target company.
Indian pharmaceutical companies, which are increasingly choosing to settle patent litigation with global drug majors in the US, would have to be more cautious now.
In his customary pre-departure statement, Dr Singh said it was in India's interest to have an open, stable and rule-based international economic environment.
Cooking gas distributors are threatening to go on strike on October 1, opposing the restriction on sale of subsidised cylinders.
The NCDRC gave its order dismissing Air India's appeal against the Tamil Nadu state consumer commission, which had upheld a Chennai district consumer forum's order to pay the compensation.
From the Sensex pack, Adani Ports & Special Economic Zones, Mahindra & Mahindra, Reliance Industries, HDFC Bank, Larsen & Toubro, NTPC, State Bank of India, UltraTech Cement and Kotak Mahindra Bank were the major gainers. In contrast, Tata Steel, Titan, Bajaj Finserv, JSW Steel, Bajaj Finance, Hindustan Unilever, ITC, Tata Motors and Tata Consultancy Services were among the laggards.
Anti-trust body MRTPC has issued a stern warning to ICICI Bank for selling insurance policies to its credit card holders without their consent and has asked it to stop the practice.MRTPC bench headed by Justice O P Dwivedi passed a cease and desist order and held it as an unfair trade practice to promote its business.
Leading steel manufacturers SAIL and Essar Steel on Friday refuted the charges of 'cartelisation' and 'unfair trade practices', levelled by ancillary steel producers, by attributing steep hike in HR Coil prices to sky-rocketing raw material costs.
Failure to recognise the threat of India's IP abuse is a major step back: Congressman Orrin Hatch.
This was a fresh probe based on the inspection of certain derivative contracts both on the BSE and NSE.
Until now, the penalty was Rs 1 crore only.
Steel baron Lakshmi Mittal has spent millions of dollars for lobbying with US lawmakers on a variety of issues, including support for action against China's unfair trading practices and export restrictions.
The first phase of the trade deal includes IP protection and enforcement, ending forced technology transfer, dramatic expansion of American agriculture, removing barriers to American financial services, ending currency manipulation, rebalancing the US-China trade relationship and effective dispute resolution.
The Securities and Exchange Board of India (Sebi) on Tuesday imposed a penalty of Rs 26 crore on Coffee Day Enterprises (CDEL) for alleged violation of securities laws. The regulator also directed the company to initiate steps to recover dues of Rs 3,535 crore-the amount diverted from seven subsidiaries of CDEL to Mysore Amalgamated Coffee Estates (MACEL). Affirming the violations of the Sebi (Prevention of Fraudulent and Unfair Trade Practices) Regulations and Sebi (Listing Obligations and Disclosure Requirements) Regulations, whole-time member Ashwani Bhatia said the listed company was being run like a personal fiefdom with no checks and balances in place.
Securities and Exchange Board of India has barred Samir Arora, fund manager of Alliance Capital Mutual Fund, from dealing in securities in any manner for five years for violating the regulator's unfair trade practices norms
Fair trade regulator CCI on Tuesday cleared Bajaj Group's proposed acquisition of a 26 per cent stake each in its insurance joint ventures, Bajaj Allianz General Insurance and Bajaj Allianz Life Insurance, from its partner Allianz SE for a total of Rs 24,180 crore. "The proposed combination involves acquisition of 26 per cent paid-up equity share capital of Bajaj Allianz Life Insurance Company Ltd (BALIC) and Bajaj Allianz General Insurance Company Ltd (BAGIC) by Bajaj Finserv Ltd (BFS), Bajaj Holdings & Investment Ltd (BHIL) and Jamnalal Sons Pvt Ltd (JSPL) from Allianz SE," the regulator said in a release.
Sebi had, in February, dropped allegations of fraudulent and unfair trade practices against NSE's former heads Ravi Narain and Chitra Ramakrishna in the co-lo case.
Stating that the differential pricing above Rs 12 was "unfair trade practice," Justice J D Kapoor, Delhi State Consumer Disputes Redressal Commission, said: "The process of converting ordinary water into mineral water is the same (for all bottlers) and the quality or purity is also the same. It is immaterial whether mineral water is obtained directly from springs or any other source." Yet, packaged water firms continue to price their 1 litre bottles above this amount.
A Delhi consumer forum has asked telecom operator Idea Cellular Ltd to pay Rs 10,000 to a person as compensation for giving a bill inflated by Rs 3.50.
