Competition Commission Of India CCI

Fair-trade regulator CCI on Thursday said it has approved the acquisition of SREI Infrastructure Finance by National Asset Reconstruction Company Ltd and India Debt Resolution Company Ltd. The deal has been cleared under the green channel route. National Asset Reconstruction Company Ltd (NARCL) is an asset reconstruction company while India Debt Resolution Company Ltd (IDRCL) provides debt management services to NARCL. Both entities are backed by the Government of India. The proposed transaction involves the acquisition of a majority of equity share capital of the Srei Infrastructure Finance (SIFL) by NARCL and IDRCL, according to a CCI notice. NARCL has submitted a resolution plan in relation to the corporate insolvency resolution process (CIRP) of SIFL and its wholly-owned subsidiary, SREI Equipment Finance Ltd (SEFL). Thereafter, NARCL's resolution plan was approved by the Committee of Creditors (CoC) of the SIFL on February 14, the notice said. The Competition Commission of I

But fees charged by Google for app purchases remain a concern

The NCLAT bench comprising chairperson Justice Ashok Bhushan and member Alok Srivastava said that the CCI investigation was not in violation of the principles of natural justice

Google's alleged anti-competitive agreements prohibited original equipment manufacturers from producing a version of the OS that had not been approved as Android-compatible by Google

The government has invited applications for 17 posts, including for Additional Director General and Deputy Director General, at the Competition Commission of India (CCI) on a deputation basis. The CCI, which comes under the Ministry of Corporate Affairs (MCA), keeps a tab on anti-competitive practices in the marketplace and also works towards promoting fair trade practices. Applications have been sought for the posts of Additional Director General, Joint Director General and Deputy Director General, among others, according to a notice. Applicants must be employees of central or state governments, government companies or autonomous bodies or regulatory authorities or universities or judicial institutions of central/ state governments. The appointment will be made on deputation on a foreign service terms basis initially for a period of three years, which can be extended for a period not exceeding seven years. "Applications in the prescribed proforma, together with all necessary ...

Air India has "enormous" potential and efforts are on to make the group a significant international player, its CEO Campbell Wilson said on Monday. Addressing the media virtually, Wilson further said the process of integration of Vistara with Air India is underway and is now awaiting approval from the Competition Commission of India (CCI). The integration of Air India Express and AIX Connect, earlier known as AirAsia India, is also underway. Air India has enormous potential and unprecedented opportunities. The group is working on becoming a significant international player, he said. On February 14, Air India announced placing an order for 470 planes, including 70 wide-body aircraft. Wilson said the funding would be through a combination of various sources. The Tata Group took over Air India in January last year.

The government on Thursday invited applications for the post of Chairperson of the Competition Commission of India (CCI). Since October 25, the post has been lying vacant. According to a public notice issued by the corporate affairs ministry, the applicants should have professional experience of at least 15 years in international trade, economics, business, commerce, law finance, accountancy, management, industry, public affairs or competition matters, The person, if selected, can hold the office for a term of five years from the date of joining the post or till the age of 65 years, whichever is earlier. The monthly salary will be Rs 4.50 lakh. Applications for the post can be submitted till March 9. "The candidates who had applied earlier in response to the previous advertisement/vacancy circular dated 26th July, 2022 inviting applications for the post of Chairperson need not apply," the notice said. Sangeeta Verma, who is a CCI Member, has been the acting Chairperson since Octo

The tech giant also said CCI itself had recognised that Google's Mobile Application Distribution Agreement (MADA) was beneficial to Original Equipment Manufacturers (OEMs)

Understrength CCI undermines business climate

Business Standard brings you the top headlines at this hour

The next meeting of the CCI is scheduled for Tuesday. The watchdog may take a call on some of the remaining 14 deals which are awaiting nod

Panel comprising civil servants, experts will study if Competition Act, 2002 enough to deal with new digital economy

16 applications pending; corporate affairs ministry studying proposal, say sources

The proposed law however is not clear still on whether an application for settlements and commitments requires an admission of guilt

Sources say that Google will place the new licence agreement before the CCI for its endorsement

The CCI said that the issue at hand was of "national importance" and that Google be not given "two innings" at the NCLAT

The company also intends to add one more manufacturing in the next three years with an investment of Rs 750-1,000 crore, Sundaresan A S, CEO at JSW Paints told Business Standard

The Appellate Tribunal will hear the matter on April 17

Google has so far said the CCI decision will force it to change its long-standing business model, but its Indian Supreme Court filing for the first time quantifies the impact and details the changes

All of a sudden, global tech giants are grappling with the prospect of more stringent regulation and domestic telco's demands for a level playing field