The transaction is subject to obtaining all necessary approvals and fulfilling other customary conditions, as specified in the terms and conditions of the SPA
Fair trade regulator Competition Commission of India (CCI) on Tuesday cleared the acquisition of additional stake purchased by Titan in CaratLane. CaratLane is engaged in the business of manufacture and sale of gems and jewellery in India. The combination relates to the acquisition of 27.18 per cent share capital of CaratLane (a subsidiary of Titan) by Titan Company Ltd, on a fully diluted basis, from Mithun Padam Sacheti, Siddhartha Padam Sacheti, and Padamchand Sacheti, according to a release. Titan, a joint venture between the Tata Group and the Tamil Nadu Industrial Development Corporation (TIDCO), is active in several businesses through lifestyle brands, including jewellery, eye care, fragrances, and fashion accessories. In August, jewellery maker Titan announced that it is going to increase its stake in its subsidiary and new-age jewellery brand CaratLane to 98.28 per cent by acquiring an additional 27.18 per cent for Rs 4,621 crore. CaratLane was started as a purely online
With a chapter on Open Internet, the new bill would aim to ensure that internet-based services are provided in a non-discriminatory manner
To ensure fair competition and consumer benefits in the cement industry, the Competition Commission of India (CCI) has decided to conduct a pan-India market study on the cement sector. According to CCI, given the criticality of cement for many vital sectors, well-functioning and competitive cement market is of utmost importance. The fair trade regulator on Friday said that it has decided to conduct a pan-India market study on the cement sector. "Cement is a critical input in crucial sectors of the economy such as housing and infrastructure. "These sectors have well-known forward and backward linkages with a range of other industries, thereby having the potential to influence the overall growth trajectory of the economy," according to an official release. The market study aims to investigate the structural features of the cement market, as well as potential collusion issues, to ensure fair competition and consumer benefits in this critical industry. It will also provide valuable ..
CCI said that some of the objectives of the study are to study the market trends including movements in cement price, cost, production, capacity, capacity utilisation and profitability
The Competition Commission of India (CCI) on Thursday said it has approved the deal involving the re-balancing of the existing cross-shareholdings between Renault and Nissan. Renault and Nissan are engaged in the sale of passenger vehicles and automotive parts through their wholly-owned subsidiaries Renault India Pvt Ltd (RIPL) and Nissan Motor India Pvt Ltd (NMIPL). The combination relates to the re-balancing of the existing cross-shareholdings between Renault SA and Nissan Motor Co Ltd and certain changes to the shareholding of two of their joint ventures in India, Renault Nissan Automotive India Pvt Ltd and Renault Nissan Technology & Business Centre India Pvt Ltd, according to an official release. As part of the rebalancing effort, Nissan, through Nissan Finance Co Ltd, will retain its 15 per cent stake in Renault. Meanwhile, Renault will transfer 28.4 per cent of Nissan shares into a trust estate administered by a trustee governed by French law. Renault will continue to ...
Effectively involving the regulated entities in the rule-making process and crowd-sourcing ideas help create a better-governed market economy
Competition Commission of India (CCI) on Wednesday said it has become a member of the steering group of the International Competition Network (ICN). The ICN comprises 140 competition agencies from 130 countries. "CCI joins the prestigious Steering group of International Competition Network (ICN) as a member at the ICN Annual Conference 2023 at Barcelona, Spain after consistent efforts. "ICN consists of 140 competition agencies and is guided by its apex body -- Steering Group of 18 members," according to a post by CCI on social media platform X. An official said this is the first time that the CCI has become a member of the ICN's steering group and the membership is for two years. The ICN provides competition authorities with a specialised yet informal venue for maintaining regular contacts and addressing practical competition concerns, according to its website.
Competition Commission has sought stakeholders' comments on draft leniency plus regulations that will offer incentives to companies already under probe for cartelisation for providing information about other cartels. As incentives, the entity giving information could get an additional reduction in monetary fine could be as much as 30 per cent with regard to the first cartel besides a reduction in penalty of up to 100 per cent in respect of newly disclosed cartels. The framework is designed to create an additional incentive for companies to cooperate with antitrust authorities in identifying and addressing cartel activities, ultimately promoting fair competition. The Competition (Amendment) Act, 2023 has introduced 'lesser penalty plus' and withdrawal of 'lesser penalty'/'lesser penalty plus' applications in the existing framework, to incentivise an existing LP applicant in respect of the first cartel to give full, true and vital disclosures about a second cartel unknown to the ...
The Leniency Plus regime was introduced in the new Competition (Amendment) Act, 2023, although several provisions of the Act are yet to be notified
Attempt to bring down misinformation before elections
Rapidly evolving markets and technology have created fresh challenges and new dimensions in competition law and policy
Evolving markets and technology create fresh challenges in competition law and policy, says Ravneet Kaur
Fair trade regulator Competition Commission of India (CCI) on Tuesday said it has cleared the acquisition of certain shareholding in Hitachi Astemo Ltd (HAL) by Japan Investment Corporation and Honda Motor Co Ltd (HMCL). The proposed deal relates to the acquisition of 20 per cent voting rights in HAL by JICC, an affiliate of Japan Investment Corporation, together with certain control rights, board representation and other rights, according to an official release. JICC-01 Ltd Partnership is managed by JICC G.K, an affiliate of the Japanese government's sovereign wealth fund Japan Investment Corporation (JIC). Also, the regulator approved the acquisition of an additional 6.6 per cent of voting rights in HAL by HMCL, such that 40 per cent of the voting rights in HAL are held by HMCL. In addition, CCI also gave its nod to the acquisition of a 49 per cent stake in Hitachi Astemo Electric Motor Systems (HAEMS) by HAL, such that 100 per cent of the shareholding of HAEMS is held by ...
The CCI is also planning to launch a study into the Artificial Intelligence market to check if there are possibilities of anti-competitive practices and how they can be addressed
India will host the eighth BRICS International Competition Conference in the national capital this week and more than 600 delegates are expected to participate in the event. Briefing reporters here, Competition Commission of India (CCI) Chairperson Ravneet Kaur on Tuesday said the conference will have three plenary and four breakout sessions. The primary objective of the conference is to foster cooperation and share the learnings. More than 600 delegates are expected to participate in the conference, Kaur said. She also said the competition landscape has evolved with the digital economy and big tech companies.
Fair market regulator is getting more powers as its new leadership settles in at work
The new members appointed are Anil Agrawal, a former police official who recently worked at India's commerce ministry and worked on various startup initiatives
Some cases dated back more than 15 years, says CEO Campbell Wilson in message to employees
The CCI has invited stakeholders to submit written comments on the draft Combinations Regulations until 25 September