Page 3 - Competition Commission Of India

CAIT demands immediate enforcement of e-comm laws on Amazon and Flipkart

CCI launched its investigation into Amazon and Flipkart in 2020 for allegedly pushing select sellers to the top of search results, while sidelining others

Trade groups call for Amazon, Flipkart suspension over antitrust breaches

Indian antitrust investigation reports have found Amazon and Flipkart violated local competition laws by giving preference to select sellers and priority to certain listings, hurting competition

CCI investigation finds Amazon, Walmart's Flipkart breached antitrust laws

The Competition Commission of India (CCI) in 2020 ordered an investigation into Amazon and Flipkart for allegedly promoting certain sellers with which they had business arrangements

CCI gives nod to Dixon Technologies to acquire stake in Aditya Infotech

Fair trade regulator CCI on Tuesday granted its approval to Dixon Technologies' proposal to acquire a stake in Aditya Infotech Ltd. Dixon Technologies (India) Ltd is involved in the business of providing Electronic Manufacturing Services (EMS). It provides EMS for lighting solutions, television, washing machines, security systems, wearables and hearables, among others. The regulator also cleared the acquisition of a stake in AIL Dixon Technologies by Aditya Infotech Ltd (AIL). "Commission approves the subscription of certain shares of Aditya Infotech Ltd (AIL) by Dixon Technologies (India) Ltd and the acquisition of certain shares of AIL Dixon Technologies Pvt Ltd by AIL," CCI said in a post on X. AIL Dixon Technologies is a joint venture (JV) company between AIL and Dixon Technologies India. It is engaged in manufacturing and assembling of ESS. During FY24, the JV recorded a revenue of Rs 632.62 crore. Aditya Infotech is engaged in the business of sourcing, distributing and marke

Digital firms with Rs 500 crore turnover must seek CCI approval for M&As

Any transaction where the "deal value" exceeds Rs 2,000 crore would be notifiable for the CCI's approval, provided that the target entity has "substantial business operations" in India

CCI clears proposed merger of Tata Motors Finance into Tata Capital

The Competition Commission of India (CCI) on Tuesday cleared the proposed merger of Tata Motors Finance Ltd into Tata Capital Ltd. Tata Capital Ltd (TCL) is a subsidiary of Tata Sons and is operating as a non-banking financial company Investment and Credit Company (NBFC-ICC). TCL is engaged primarily in the business of lending, leasing, factoring, financing and distributing financial products. "CCI approves the proposed merger of Tata Motors Finance Ltd with and into Tata Capital Ltd," the regulator said in a post on X. Tata Motors Finance Ltd (TMFL) operates as an NBFC-ICC and is engaged in the business of granting loans and facilities for financing the purchase of new vehicles manufactured by Tata Motors and its group companies. TMFL also refinances existing vehicle finance loans. It is a step-down wholly-owned subsidiary of Tata Motors Ltd. In June this year, Tata Motors, TCL and TMFL's board approved a merger of TMFL with TCL through an NCLT scheme of arrangement. As ...

NIIF gets CCI's approval to acquire additional stake in Ather Energy

The Competition Commission of India has approved the National Investment and Infrastructure Fund's (NIIF) proposal to acquire an additional stake in Ather Energy. The deal was cleared by the competition watchdog under the green channel route. "The acquirer (India-Japan Fund) proposes to acquire certain Series G Compulsorily Convertible Preference Shares of Ather," the regulator said in an order. India-Japan Fund (IJF) is a fund managed by NIIF. The fund focuses on investing in environmental sustainability, and low-carbon emission strategies and promoting investments by Japanese companies in India. The transaction will help IJF further its goals by creating value for the broader market for electric two-wheelers, clean mobility transport solutions, and technology-led last-mile transport vehicles, it added. Ather is engaged in the business of designing and developing electric scooters, while the India-Japan Fund (IJF) is a Sebi-registered alternative investment fund. It focuses on .

CCI gives nod to PE firm General Atlantic to acquire Actis Holdings

The Competition Commission of India (CCI) on Tuesday cleared US-based private equity firm General Atlantic's proposal to acquire a 100 per cent stake in Actis Holdings. Actis Holdings S. r.l is a sustainable infrastructure investor, investing globally in, energy infrastructure, digital infrastructure, real estate and private equity. "CCI approves the proposed acquisition of 100% shareholding of Actis Holdings S. r.l. by GAP Arthur Holdco, LP," the fair trade regulator said in a post on X. GAP Arthur Holdco LP is an affiliate of General Atlantic. In January this year, General Atlantic (GA) and Actis announced that the firms have entered into a definitive agreement under which GA will acquire Actis, creating a diversified, global investment platform with USD 96 billion in combined assets under management (AUM). Under the terms of the agreement, Actis will become the sustainable infrastructure arm within General Atlantic's global investment platform. In a separate post on X, CCI app

Aiming to enhance efficiency, CCI proposes changes to recruitment rules

The Competition Commission of India has proposed changes to the recruitment rules, aiming to support the regulator's professional and administrative capacities in light of its growing obligations. These modifications are a vital step towards improving the CCI's effectiveness, given its enlarged mandate. The draft amendments pertain to the CCI (Salary, Allowances, Other Terms and Conditions of Service of the Secretary and Officers and Other Employees of the Commission and the number of such Officers and Other Employees) rules. These changes necessitate the recruitment of additional officers at the feeder level to ensure efficient and timely bound manner. In a consultation paper released by CCI, the regulator proposed "introduction of direct recruitment at level-10 and level-8 of the 7th Central Pay Commission (CPC) for professional and administrative stream officers, respectively". "For IT stream, it is proposed to have direct recruitment at Level-10 of 7th CPC", it added. The ...

Proposed digital antitrust law likely to cover 'killer acquisitions'

Killer acquisitions are deals where a dominant company acquires a smaller innovative firm to prevent competition

CCI warns staff over unauthorised media contacts, information disclosure

CCI is investigating high-profile companies and reviewing deals involving the likes of Amazon, Walmart's Flipkart, Reliance, Walt Disney and liquor maker Pernod Ricard

Why institutions like CCI remained passive as Adani built monopolies: Cong

The Congress on Wednesday questioned the Competition Commission of India over its approval of all acquisitions by the Adani Group, asking why such institutions "remained passive" as the conglomerate built "monopolies" in critical infrastructure sectors, raising prices at consumers' expense. Congress general secretary in-charge communications Jairam Ramesh said the Competition Commission of India (CCI) has reportedly raised concerns that the proposed Reliance-Disney merger could stifle competition. "It is a good time to reflect on how the CCI should have also had the courage to address how the non-biological PM's other favourite business conglomerate is acquiring companies and reducing competition across various industries," he said in a post on X. "The CCI is legally required to approve mergers and acquisitions that exceed a certain threshold. Yet, all acquisitions by the Adani Group have been approved, even as the company builds monopolies in sectors like ports, airports, power, an

CCI warns Disney, Reliance media merger could harm competition: Report

Antitrust experts had warned the merger, announced in February, could face intense scrutiny, especially on the sporting rights issue

CCI approves Rs 4,630 cr deal between Warburg Pincus, Shriram Housing

The Competition Commission of India (CCI) on Tuesday approved the proposed Rs 4,630-crore deal, wherein private equity major Warburg Pincus will acquire Shriram Finance's arm Shriram Housing Finance. "The proposed combination envisages inter alia the acquisition of shareholding in Shriram Housing Finance Ltd by Mango Crest Investment Ltd," CCI said in a release. Mango Crest Investment Ltd undertakes investment holding activities. It is an affiliate of US-based Warburg Pincus. Shriram Housing Finance Ltd is a housing finance company registered with the National Housing Bank. In May this year, financial services firm Shriram Finance announced the sale of its housing finance arm to private equity major Warburg Pincus for Rs 4,630 crore to focus on the vehicle finance and small business lending. Under the deal, SHF will be acquired by Warburg Pincus through its affiliate Mango Crest Investment Ltd from all the sellers. The proposed transaction is valued at Rs 4,630 crore for equity a

Accenture gets CCI's nod to acquire stakes in Vodafone's arm VSOL

The Competition Commission of India on Wednesday cleared IT and consulting firm Accenture's acquisition of a stake in Vodafone Shared Operations. Vodafone Shared Operations Ltd (VSOL) is engaged in the provision of shared services to the Vodafone Group and its network of partner telecommunications companies. VSOL is a part of Vodafone Group Plc. "CCI approves the proposed combination involving the acquisition of shares of Vodafone Shared Operations by Accenture," the regulator said in a post on X. In November last year, Vodafone Group Plc announced a strategic partnership with Accenture to commercialise Vodafone's shared operations. Further, the Dublin-based IT firm also said that it will invest 150 million euros for a minority stake in the partnership. The new unit will utilise Accenture's world-class technology and transformation services, such as its digital solutions and platforms, and deep AI expertise. In another post on X, the competition watchdog also approved the acquisi

CCI orders unusual recall of reports on Apple antitrust investigation

Among those now asked for the return of the reports are Match and Indian startup group ADIF, which represents financial giant Paytm

CCI seeks Apple's reply on alleged violation of competition norms

Fair trade watchdog CCI has sought a reply from Apple on the investigation report which has found that the technology major allegedly violated competition norms with respect to its App Store, according to sources. The sources said the supplementary investigation report by the regulator's Director General (DG) has concluded that Apple allegedly abused its market dominance in the relevant market, violating various provisions of Section 4 of the competition law. In December 2021, Competition Commission of India (CCI) ordered a detailed probe against Apple after prima facie finding that the company abused its market dominance. The sources said the regulator was not satisfied with the initial report submitted by the DG and sought another probe on specific aspects. The supplementary investigation report was submitted to the CCI in June, they added. The watchdog has sent the non-confidential version of the report to Apple for its reply, the sources said and added that final hearings will

ADIF files complaint with CCI against Google for anti-competitive practices

The complaint outlined Google's dominant position and alleged abusive behaviour

CCI junks complaint against Indiabulls Housing Finance, 19 officials

Competition watchdog CCI has dismissed a complaint against Indiabulls Housing Finance and 19 officials, including MD and Chairman, alleging that the firm abused its position through misleading advertisements while offering loans against property at favourable interest rates. Dismissing the complaint, the regulator in an order on Monday said, "the Commission is of the view that prima facie there is no competition concern arising in the present matter under the provisions of Section 3 and Section 4 of the Act and therefore, the matter is directed to be closed forthwith". While Section 4 of the Competition Act deals with the abuse of dominant position, Section 3 pertains to anti-competition agreement. The Competition Commission of India (CCI) observed that the market appears to be competitive with the presence of large number of banks and non-banking financial companies and housing finance firms and thus, dominance of Indiabulls Housing is not established in the relevant market. The .

Android mobile device matter: SC to hear pleas of Google, CCI in Sept

The Supreme Court Thursday said it will hear in the second week of September the cross-pleas of Google and the Competition Commission of India challenging a verdict of an appellate tribunal in a case related to the tech giant's alleged anti-competitive practices in the Android mobile device matter. A bench comprising Chief Justice D Y Chandrachud and justices JB Pardiwala and Manoj Misra took up the appeals and said the pleas can be taken up later. Senior advocate Harish Salve, appearing for one of the parties, said the plea may be kept for final disposal later. The bench then said the cross-pleas can be listed for final disposal in the second week of September. Earlier, the bench had appointed lawyer Sameer Bansal as the nodal counsel for preparing common digital pleadings with the help of lawyers from both sides for easy adjudication of the matter. On March 29 last year, the National Company Law Appellate Tribunal (NCLAT) had handed out a mixed verdict on Google's alleged ...