The National Company Law Appellate Tribunal (NCLAT) on Monday rejected Amazon's plea challenging the decision of fair trade regulator CCI to suspend the approval for the e-commerce major's deal with Future Coupons. A two-member bench comprising Justice M Venugopal and Ashok Kumar Mishra, upheld the findings of the Competition Commission of India (CCI) and directed it to pay the penalty of Rs 200 crore imposed on Amazon by the fair trade regulator within 45 days from Monday. "This appellate tribunal is in complete agreement" with the CCI, the two-member bench said.
Google said safety, affordability and expanded use cases for the next wave of users will be the pillars to get the next 700 million users online.
The "load shedding", which entails compulsory power cuts in select areas, will be carried out both in urban and rural areas, the Maharashtra State Electricity Distribution Company said in a statement.
Amid concerns over minorities being targeted in India, former Reserve Bank governor Raghuram Rajan on Thursday cautioned that an 'anti-minority' image for the country can lead to loss of market for Indian products and may also result in foreign governments perceiving the nation as an unreliable partner. India enters the perception battle from a position of strength, the professor at Chicago's Booth School of Business said, alluding to credentials like democracy and secularism, but warned that this battle is "ours to lose". The comments came a day after bulldozers tore down several concrete and temporary structures close to a mosque in Jahangirpuri as part of an anti-encroachment drive, days after the northwest Delhi neighbourhood was rocked by communal violence.
The NHRC said that it has received several complaints regarding the ongoing farmers' protest.
Mutual funds have ratcheted up Rs 53,700 crore (Rs 537 billion) through new fund offers (NFOs) in 2022 until November, against Rs 1 trillion in Calendar 2021, notwithstanding the number of launches this year eclipsing the 2021 tally. Industry insiders cite the absence of launches in popular categories as the reason behind lower collections this year. Typically, only NFOs in popular categories from major fund houses rake in the moolah.
Old ideas contained in the heads of old economists still dominate. That's not good, asserts T C A Srinivasa Raghavan.
A 23-year-old doctor was stabbed to death on Wednesday at a taluk hospital in Kottarakkara area of Kollam district in Kerala allegedly by a man, a school teacher under suspension, who was brought there by police after being involved in a fight with his family members.
Project Vivaan won big at the Solar Decathlon, placing second overall (and missing the first position by a whisker). Members of the award-winning Team Shunya tell Mrigank Warrier how they built a carbon-neutral, water-neutral, energy-positive home for a family of four.
The Uddhav Thackeray-led Shiv Sena faction has submitted to the Election Commission its three options of a trident, rising sun or mashaal (burning torch) for its poll symbol, sources said on Sunday.
Consumer activist Jehangir B Gai explains a RBI circular that says the customer is not liable for unauthorised transactions that occur due to contributory fraud, negligence, or deficiency on the bank's part.
As Google evaluates its response to two recent penalties slapped by the Competition Commission of India (CCI), here is a look at the app economy. Apps are bread and butter for mobile operating systems. India ranks second in the number of mobile downloads, with nearly 27 billion downloads in 2021, according to Deloitte. Accounting for 11.6 per cent of global app downloads, the Indian smartphone user spends over 4 hours a day on apps.
Indians are more vulnerable to technology support-related scams compared to the global average, and lost over Rs 15,000 on average in such scam, a Microsoft research has found. According to the 2021 Global Tech Support Scam Research report, which looks at tech support scams and their impact, consumers in India experienced a relatively high scam encounter rate of 69 per cent during the past 12 months, close to the 70 per cent rate experienced in 2018. In contrast, there was an overall five-point drop in scam encounters globally with a rate of 59 per cent over the same period. The survey was conducted in Spring 2021 and asked consumers to share their experiences with tech support scams for the year prior (January 2020 to present).
US bank Citigroup on Wednesday announced the sale of its Indian consumer banking businesses, including credit cards, retail banking, wealth management and consumer loans, to private lender Axis Bank for Rs 12,325 crore, as part of its plans to exit retail operations in 13 markets.
'For all of us at Amazon, it is 'Bharat first'.' 'We are keeping the Indian customer at the centre of what we are doing.'
India is now much ahead of other large railway networks in the world in terms of electrification -- with the US at just 1 per cent, China at 72 per cent and Europe at 60 per cent.
The Competition Commission of India has approved Tatas' proposal to acquire up to 64.3 per cent stake in BigBasket, a deal that will provide the diversified group a strong foothold in the fast-growing online grocery market.
Palanivel Thiaga Rajan was on the hit-list, not because the chief minister was unhappy with his performance, but because there were constant complaints from other ministers that he was sitting on their files far too long, observes N Sathiya Moorthy.
While consumers feel that petrol pinches directly, diesel hurts indirectly, as it is an input in almost all the goods and services we use.
Petrol and diesel prices on Thursday climbed to fresh highs in the country as rates were hiked by the most in recent times, even as fuel retailers said the government can cut taxes to ease consumer burden. Petrol and diesel price was hiked by 35 paise per litre each after a gap of a week, according to price notification of state-owned fuel retailers. The increase took petrol prices to a fresh high of Rs 86.65 a litre in Delhi and to Rs 93.20 in Mumbai.
The Department of Telecom (DoT) has slapped a penalty of Rs 2,000 crore on Vodafone Idea and Rs 1,050 crore on Bharti Airtel based on sector regulator Trai's recommendation five years ago, according to sources. The DoT has given three weeks time to the telecom operators to pay the penalty, a source said while sharing the content of the demand notice served to the companies on Thursday. When contacted Bharti Airtel spokesperson said, "We are deeply disappointed with the arbitrary and unfair demand based on Trai recommendations of 2016 relating to provisions of point of interconnect to a new operator.
Petrol price can go down to Rs 75 a litre across the country if brought under the ambit of the Goods and Services Tax (GST), but there is a lack of political will, which is keeping Indian oil product prices at one of the highest in the world, economists at SBI said on Thursday.
While the industry has been given the highest benefits, farmers will have to contend with 1 per cent reduction in electricity costs.
'Kalnirnay is like a bible for any family.'
Indians will forever remember Akram as the scary phenomenon with the soft smile, the man who rattled through the Indian batting order, but was rarely as hated as Waqar or Shoaib Akhtar, observes Vaibhav Raghunandan.
Amid mounting opposition pressure for his resignation over the death of a civil contractor, senior Karnataka Minister K S Eshwarappa on Wednesday ruled out stepping down from his post, as he wondered if a Whatsapp message can be treated as a 'death note'.
Poor governance and mediocre short-sighted politics are destroying the paradise that Goa was as its environment, water table, culture and way of life is drastically threatened by tourism and migration, points out Ramesh Menon.
The Competition Commission has approved Reliance's proposed acquisition of retail, wholesale, logistics and warehousing businesses of Future Group. The Rs 24,713 crore deal that would boost Reliance Industries' fast growing retail business was announced in August. In a tweet on Friday, the regulator said it has approved "acquisition of retail, wholesale, logistics & warehousing businesses of Future Group by Reliance Retail Ventures Limited and Reliance Retail and Fashion Lifestyle Limited".
The Maharashtra government will bring an ordinance to grant OBC quota in upcoming by-elections to a set of local governing bodies without crossing the Supreme Court-mandated 50 per cent cap on reservation, said state minister Chhagan Bhujbal on Wednesday.
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.
Minister of state for personnel Jitendra Singh said it is a major step to place the right talent for the right role.
The Kerala consumer commission recently concluded in a medical complaint that while negligence had necessitated a second surgery, as there was no evidence to show that it was the cause of disability, it reduced the original compensation ordered, points out consumer activist Jehangir B Gai.
The proposed e-commerce rule book issued recently by the ministry of consumer affairs does not mention foreign companies or foreign direct investment (FDI) at any place, unlike most other government guidelines for the sector so far. That is a heartening development since the latest proposals could be fine-tuned as e-commerce policy.
Companies think they are too big to bow before regulators.
As the Centre pushes reforms in the power sector, especially for the beleaguered electricity distribution segment, several states, especially those ruled by Opposition parties, are clamouring against it. Maharashtra, West Bengal, Tamil Nadu, and Kerela have voiced their reservations against the proposed amendments to the Electricity Act, 2003. The irony is the states opposing the amendments on the ground of threat of privatisation already have private partnerships in power supply. The proposed Bill was slated to be placed on the floor of Parliament in the Monsoon session. But it still awaits Cabinet approval amid several states complaining that they have been not consulted on the issue.
Political parties and individuals cannot be prevented from making poll promises aimed at fulfilling the constitutional mandate and the term 'freebie' should not be confused with genuine welfare measures, the Supreme Court said on Wednesday.
PharmEasy has acquired Medlife for an undisclosed amount, the e-pharmacy unicorn said on Tuesday. The deal will make PharmEasy the largest player in the domestic online pharmacy sector, with the combined entity set to serve 2 million customers a month.
Food delivery apps Zomato and Swiggy reported a nationwide outage on Wednesday. Both the platforms witnessed technical glitches and were unresponsive for almost an hour. Downdetector, a platform that collects status reports from a series of sources, recorded about 3,619 reports of outage against Zomato at 2:05 PM and about 771 reports of outage against Swiggy at around 2:21 PM. According to the sources, the outage was caused by Amazon Web Services (AWS), a cloud-services platform, which runs both platforms. Though Swiggy and Zomato are working now, some customers reported that the issue has not been solved completely and they are not able to place orders and there are payment related issues.
After the massive tax evasion of GST by cryptocurrency service provider WazirX, the Directorate General of GST Intelligence has come down heavily on cryptocurrency exchanges operating in the country, said sources. "Around half a dozen offices of cryptocurrency service providers have been searched and massive Goods and Service Tax (GST) evasion has been detected by DGGI," sources told ANI. Crypto wallet and exchange are platforms where merchants and consumers can transact with digital assets like bitcoin, ethereum, ripple, etc.
The Competition Commission has ordered a detailed probe against Google for alleged anti-competitive practices in the smart television operating systems market in the country. After assessing a complaint, the watchdog has reached the prima-facie view that Google is dominant in the relevant market for licensable smart TV device operating systems in India. In a 24-page order, the Competition Commission of India (CCI) said that prima-facie mandatory pre-installation of all the Google applications under TADA amounts to imposition of unfair conditions on the smart TV device manufacturers.
