News

CCI grants approval for merger of Vistara and Air India   The Competition Commission of India (CCI) granted approval on Friday for the merger between Tata Group's airlines - Vistara and Air India. This significant development opens the door for Air India to potentially become India's largest international carrier and the second-largest domestic carrier, trailing only IndiGo. This decision follows several months of scrutiny, during which the CCI had issued a show cause notice to Air India back in June, seeking clarification on...
CCI grants approval for merger of Vistara and Air India
CCI grants approval for merger of Vistara and Air India
Source: IANS
2/09/2023 10:29:20 AM
Competitive behaviour needs to be gauged prior to market monopolisation, says Parliamentary panel A Parliamentary panel has taken serious note of the challenges posed by the winner-take-all markets where winners emerge within a few years of the market having evolved, and by the time, anti-competitive policies are formulated, the market tips in one direction and a winner emerges. To tackle such a situation, the Parliamentary panel on Finance, in its report on anti-competitive practices by big tech companies, which was tabled on Thursday in Parliament, has suggested that competitive beha...
Competitive behaviour needs to be gauged prior to market monopolisation, says Parliamentary panel
Competitive behaviour needs to be gauged prior to market monopolisation, says Parliamentary panel
Source: IANS
28/07/2023 9:57:00 AM
India names former senior tourism official as head of antitrust body India has named Ravneet Kaur as chairperson of the country's antitrust body, the Competition Commission of India, for a period of five years, according to a government order seen by Reuters on Tuesday. Kaur has held several positions in the government over the last two decades, including as chairperson of India Tourism Development Corp between 2017 and 2019, Kaur's LinkedIn profile showed. The appointment comes after months of delay in appointing the head of the watchdog, which ...
India names former senior tourism official as head of antitrust body
India names former senior tourism official as head of antitrust body
Source: Reuters
16/05/2023 11:28:37 AM
Indian startups go to court to stop Google`s new in-app billing system A group of Indian startups has asked a court to suspend Alphabet Inc Google's new in-app billing fee system until the country's antitrust body investigates the U.S. firm for alleged non-compliance with its directives, a legal filing showed. The Alliance of Digital India Foundation (ADIF) last month asked India's antitrust regulator to investigate Google for devising a new system startups say still charges them a high service fee, despite an antitrust directive in October to all...
Indian startups go to court to stop Google`s new in-app billing system
Indian startups go to court to stop Google`s new in-app billing system
Source: Reuters
12/04/2023 9:30:26 AM
CCI approves LIC AMC`s acquisition of management rights over IDBI MF schemes The Competition Commission of India (CCI) has approved the proposed combination involving LIC Mutual Fund Asset Management Ltd's (LIC AMC) acquisition of the management rights over the schemes of IDBI MF from IDBI Asset Management Ltd (IDBI AMC). The proposed combination entails LIC AMC's acquisition of the rights to manage and administer the schemes of IDBI MF from IDBI AMC, and LIC Mutual Fund Trustee Private Ltd's (LIC TC) acquisition of the rights of trusteeship of the sche...
CCI approves LIC AMC`s acquisition of management rights over IDBI MF schemes
CCI approves LIC AMC`s acquisition of management rights over IDBI MF schemes
Source: IANS
23/03/2023 8:53:46 AM
Reliance Industries rises as its arm gets CCI`s nod for acquisition of Metro Cash & Carry India Reliance Industries is currently trading at Rs. 2243.00, up by 6.15 points or 0.27% from its previous closing of Rs. 2236.85 on the BSE. The scrip opened at Rs. 2237.05 and has touched a high and low of Rs. 2246.00 and Rs. 2202.30 respectively. So far 93093 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 2855.00 on 29-Apr-2022 and a 52 week low of Rs. 2,202.30 on 16-Mar-2023. Last one week high and low of the s...
Reliance Industries rises as its arm gets CCI`s nod for acquisition of Metro Cash & Carry India
Reliance Industries rises as its arm gets CCI`s nod for acquisition of Metro Cash & Carry India
Source: Accord Fintech
16/03/2023 11:37:53 AM
CCI okays acquisition of METRO Cash, Carry by Reliance Retail Ventures The Competition Commission of India (CCI) has approved the acquisition of METRO Cash and Carry India Private Limited by Reliance Retail Ventures Limited. The proposed combination involves acquisition of 100 per cent of the issued and paid-up equity share capital of METRO Cash and Carry India Private Limited (Target) by the Reliance Retail Ventures Limited (Acquirer). The Acquirer is a subsidiary of Reliance Industries Limited. The Acquirer, through its subsidiaries and affiliates, is...
CCI okays acquisition of METRO Cash, Carry by Reliance Retail Ventures
CCI okays acquisition of METRO Cash, Carry by Reliance Retail Ventures
Source: IANS
15/03/2023 12:39:20 PM
Indian startups hail Supreme Court ruling on Google-CCI case Home-grown startup founders on Thursday hailed the Supreme Court's order where it refused to interfere with the National Company Law Appellate Tribunal (NCLAT) decision, declining to stay operation of the Competition Commission of India (CCI) order imposing Rs 1,337.76 crore fine on Google. Google had moved the apex court after the setback at the NCLAT, which did not stay the CCI order on abuse of dominant position in multiple markets in the Android mobile device ecosystem case. Roh...
Indian startups hail Supreme Court ruling on Google-CCI case
Indian startups hail Supreme Court ruling on Google-CCI case
Source: IANS
20/01/2023 9:40:47 AM
Competition Commission okays acquisition of Shubhalakshmi Polyester` select businesses by Reliance Polyester Ltd The Competition Commission of India (CCI) on Thursday approved acquisition of certain businesses of Shubhalakshmi Polyesters Ltd and Shubhlaxmi Polytex Ltd by Reliance Polyester Ltd. The proposed combination contemplates acquisition by Reliance Polyester Ltd (acquirer) of the business undertakings of Shubhalakshmi Polyesters Ltd (SPL) and Shubhlaxmi Polytex Ltd (SPTex) pertaining to the manufacture of polyester products and yarn as a going concern on a slump sale basis for a lumpsum consid...
Competition Commission okays acquisition of Shubhalakshmi Polyester` select businesses by Reliance Polyester Ltd
Competition Commission okays acquisition of Shubhalakshmi Polyester` select businesses by Reliance Polyester Ltd
Source: IANS
21/10/2022 12:30:22 PM
CCI clears acquisition of 10% stake in Yes Bank by CA Basque Investments  The Competition Commission of India (CCI) on Thursday approved the acquisition of 10 per cent stake in Yes Bank Limited by CA Basque Investments. The proposed combination pertains to CA Basque acquiring up to 10 per cent of the total paid up share capital and voting rights of Yes Bank, by way of subscription to equity shares and warrants. CA Basque is a newly-formed special purpose vehicle (incorporated in the Mauritius), and is fully owned by CA Marans Investments (Mauritius), wh...
CCI clears acquisition of 10% stake in Yes Bank by CA Basque Investments
CCI clears acquisition of 10% stake in Yes Bank by CA Basque Investments
Source: IANS
21/10/2022 12:20:45 PM
Competition Commission gives conditional approval to Sony-Zee merger The Competition Commission of India (CCI) on Tuesday gave its approval to the significant merger deal between two major media houses, Sony and Zee Enterprises Ltd. The CCI's approval for the deal was given with certain modifications. The mega deal had been announced in September 2021. The CCI approved the proposed combination subject to the carrying out of modifications proposed by the parties, under Regulation 25(1) of the Competition Commission of India (Procedure in regard to ...
Competition Commission gives conditional approval to Sony-Zee merger
Competition Commission gives conditional approval to Sony-Zee merger
Source: IANS
5/10/2022 10:22:25 AM
CCI approves merger of HDFC Bank, HDFC Ltd The Competition Commission of India (CCI) has approved the proposal of merger of HDFC Bank and HDFC Ltd. "Commission approves proposed combination involving amalgamation of HDFC Limited, HDFC Bank, HDFC Investments and HDFC Holdings," CCI said in a tweet on the microblogging platform Twitter on Friday. Whenever a deals over certain limit has been struck in the marketplace then it needs an approval from the regulator to keep a tab on unfair business practices. HDFC Ltd, the ...
CCI approves merger of HDFC Bank, HDFC Ltd
CCI approves merger of HDFC Bank, HDFC Ltd
Source: IANS
14/08/2022 9:02:02 AM
India seeks to tighten rules on M&A antitrust scrutiny  India aims to tighten rules around the scrutiny of mergers and acquisitions under proposed legislation that could particularly affect global tech firms that do a lot of business there. The proposal is part of an overhaul of India's competition law in a bill that was introduced in parliament on Friday and could be passed as soon as next week. Under current law, the Competition Commission of India (CCI) reviews mergers and acquisitions that surpass thresholds for assets or turno...
India seeks to tighten rules on M&A antitrust scrutiny
India seeks to tighten rules on M&A antitrust scrutiny
Source: Reuters
5/08/2022 10:12:00 AM
CCI approves acquisition of Solenergi Power by Shell Overseas from Actis Solenergi The Competition Commission of India (CCI approves acquisition of Solenergi Power Private Limited (Target) by Shell Overseas Investments B.V.'s (Acquirer) from Actis Solenergi Limited under Section 31(1) of the Competition Act, 2002, yesterday. The proposed combination pertains to acquisition of 100% shareholding and sole control of the Target by the Acquirer. Acquirer is a company incorporated in the Netherlands and is a part of the Shell group. It is a holding company. Shell Plc is th...
CCI approves acquisition of Solenergi Power by Shell Overseas from Actis Solenergi
CCI approves acquisition of Solenergi Power by Shell Overseas from Actis Solenergi
Source: Dion Global Solutions Ltd
13/07/2022 10:03:09 AM
Bharti Airtel rises as CCI approves Google International`s proposed acquisition Bharti Airtel is currently trading at Rs. 679.60, up by 6.20 points or 0.92% from its previous closing of Rs. 673.40 on the BSE. The scrip opened at Rs. 674.25 and has touched a high and low of Rs. 679.95 and Rs. 666.15 respectively. So far 46272 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 781.90 on 24-Nov-2021 and a 52 week low of Rs. 510.09 on 02-Jul-2021. Last one week high and low of the scrip stood at R...
Bharti Airtel rises as CCI approves Google International`s proposed acquisition
Bharti Airtel rises as CCI approves Google International`s proposed acquisition
Source: Accord Fintech
4/07/2022 12:18:12 PM
India raids engineering firms after Coal India antitrust complaint NEW DELHI- India's antitrust body conducted raids at several small mining services companies on Friday for allegedly colluding on prices while offering services to the world's biggest coal miner, Coal India, four sources told Reuters. Officers of the Competition Commission of India (CCI) raided companies in Kolkata in West Bengal state and Ranchi and Dhanbad in eastern state of Jharkhand, said two of the sources, all of whom declined to be named due to sensitivity of the operation....
India raids engineering firms after Coal India antitrust complaint
India raids engineering firms after Coal India antitrust complaint
Source: Reuters
6/05/2022 4:00:06 PM
Exclusive-India probes debt trustee units of SBI, Axis, IDBI on suspected fee cartel NEW DELHI - India's antitrust body is investigating the trustee units of State Bank of India, Axis Bank and IDBI Bank for suspected collusion on fees, triggering a lawsuit by a group representing them, documents seen by Reuters showed. Indian regulations mandate that companies raising debt appoint a so-called "debenture trustee" to protect the interests of investors. The trustees charge a fee from the companies issuing the debt and make independent due-diligence checks o...
Exclusive-India probes debt trustee units of SBI, Axis, IDBI on suspected fee cartel
Exclusive-India probes debt trustee units of SBI, Axis, IDBI on suspected fee cartel
Source: Reuters
6/04/2022 2:44:17 PM
India conducts antitrust raids on tyre companies Ceat, Apollo, Continental-sources NEW DELHI  - India's antitrust body on Wednesday raided the offices of tyre companies including India's Ceat, Apollo Tyres and Germany's Continental AG in an alleged case of competition law violations, four sources with direct knowledge told Reuters. The raids were being conducted by the Competition Commission of India (CCI) officers across multiple cities, the sources said. Apollo and Continental did not immediately respond to a request for comment, while calls and mes...
India conducts antitrust raids on tyre companies Ceat, Apollo, Continental-sources
India conducts antitrust raids on tyre companies Ceat, Apollo, Continental-sources
Source: Reuters
30/03/2022 1:15:22 PM
CCI approves acquisition of L&T Investment Management by HSBC AMC The Competition Commission of India (CCI) has approved 100 per cent share capital acquisition of L&T Investment Management by HSBC Asset Management. "The proposed combination relates to acquisition of 100 per cent equity share capital of L&T AMC by HSBC AMC from L&T Finance Holdings (L&T sponsor or seller) and its nominees," the CCI said. "The acquisition of equity shares of the 'Target' falls under Section 5(a) of the Competition Act, 2002," ...
CCI approves acquisition of L&T Investment Management by HSBC AMC
CCI approves acquisition of L&T Investment Management by HSBC AMC
Source: IANS
11/03/2022 9:45:35 AM
CCI approves acquisition of Prione by Amazon The Competition Commission of India (CCI) on Wednesday approved the acquisition of Prione Business Services by e-commerce firm Amazon. Notably, Prione Business Services, is a joint venture between Catamaran and e-commerce firm Amazon. In a tweet on its official handle, CCI said: "Commission approves acquisition of Prione Business Services Private Limited by Amazon Asia-Pacific Resources Private Limited." Founded in mid-2014, Prione Business Services provides digital and int...
CCI approves acquisition of Prione by Amazon
CCI approves acquisition of Prione by Amazon
Source: IANS
10/03/2022 9:23:31 AM
Fair market regulator CCI is 'spineless, toothless', says CAIT Coming down heavily on the Competition Commission of India (CCI) for dropping investigation against Amazon for alleged violations pertaining to selling private labels on its portal, the Confederation Of All India Traders (CAIT) termed the fair market regulator as a "spineless toothless body" incapable of discharging its duties. The traders' body also termed the CCI as an "Anti-Trust Regulator". "Issues kept pending for a longer and indefinite period and by t...
Fair market regulator CCI is 'spineless, toothless', says CAIT
Fair market regulator CCI is 'spineless, toothless', says CAIT
Source: IANS
9/03/2022 4:27:33 PM
CCI imposes Rs 1,786 cr fine on five tyre cos for indulging in cartelisation The Competition Commission of India (CCI) on Wednesday said it has imposed penalties of Rs 425.53 crore on Apollo Tyres, Rs 622.09 crore on MRF, Rs 252.16 crore on CEAT, Rs 309.95 crore on JK Tyre and Rs 178.33 crore on Birla Tyres for indulging in cartelisation. Beside, the fair market regulator passed a "cease and desist order" against them. On August 31, 2018, the CCI had given an ruling against these tyre companies and their association, the Automotive Tyre Manufacturers A...
CCI imposes Rs 1,786 cr fine on five tyre cos for indulging in cartelisation
CCI imposes Rs 1,786 cr fine on five tyre cos for indulging in cartelisation
Source: IANS
3/02/2022 10:22:03 AM
RIL-ACRE seeks CCI nod to buy Sintex Industries under insolvency proceedings Reliance Industries Limited (RIL) in partnership with Assets Care & Reconstruction Enterprises (ACRE) has sought approval from the Competition Commission of India (CCI) to acquire Sintex Industries. According to a report, RIL and ACRE have made bid to acquire Sintex Industries which is under insolvency proceedings. The report said that an approval from CCI is required before the resolution plan can receive the lenders' nod. At present, RIL, ARES Capital-backed ACRE, Welspun G...
RIL-ACRE seeks CCI nod to buy Sintex Industries under insolvency proceedings
RIL-ACRE seeks CCI nod to buy Sintex Industries under insolvency proceedings
Source: IANS
29/01/2022 9:53:52 AM
CCI approves acquisition of Air India stake by Tata Sons' Talace Fair market regulator Competition Commission of India on Monday approved the acquisition of Air India, Air India Express, and Air India SATS Airport Services by Talace, which is a wholly owned subsidiary of Tata Sons. The acquisition envisaged 100 per cent equity share capital of Air India and Air India Express, and 50 per cent for that of Air India SATS Airport Services by Talace. At present, Air India is wholly owned by the government. The airline, along with AIXL, is primarily eng...
CCI approves acquisition of Air India stake by Tata Sons' Talace
CCI approves acquisition of Air India stake by Tata Sons' Talace
Source: IANS
21/12/2021 9:20:28 AM
Future Retail says Amazon tried to browbeat CCI Future Retail Limited (FRL) said on Sunday that it firmly believes that the Competition Commission of India (CCI) will not be intimidated by this arrogance of Amazon and will take action on its show cause notice (SCN) against Amazon in accordance with law and regulations. "At this stage, the counsels to Amazon, in utter disregard to the norms and in utter disrespect to the Indian statutory regulatory authority refused to argue the matter and walked out of the proceedings in an attempt...
Future Retail says Amazon tried to browbeat CCI
Future Retail says Amazon tried to browbeat CCI
Source: IANS
28/11/2021 5:21:32 PM
Key News - Digital payments, Ola, Competition Commission of India, Life Insurance Corporation of India, Reliance Jio, NMDC Ltd by ARETE Securities Key News Digital payments start-up MobiKwik files for Rs 1,900-crore offering Fintech firm MobiKwik on Monday filed a draft red herring prospectus (DRHP) with the markets regulator, Securities and Exchange Board of India (Sebi), for its initial public offering (IPO). According to its DRHP, the company plans to raise Rs 1,900 crore, which includes a fresh issue of Rs 1,500 crore and an offer for sale of Rs 400 crore. The selling shareholders include American Express Travel, Bajaj Finance...
Key News - Digital payments, Ola, Competition Commission of India, Life Insurance Corporation of India, Reliance Jio, NMDC Ltd by ARETE Securities
Key News - Digital payments, Ola, Competition Commission of India, Life Insurance Corporation of India, Reliance Jio, NMDC Ltd by ARETE Securities
Source: ARETE Securities Ltd
13/07/2021 8:50:58 AM