NEW DELHI: Fair trade regulator CCI has directed Aditya Birla firm UltraTech, which now owns south-based cement firm India Cements, along with two other makers and their executives to submit financial documents, after its director general in its investigations found contravention of competition norms.The Competition Commission of India (CCI) has also directed Dalmia Bharat Cements and Shree Digvijay Cements to …
Read More »
India’s Competition watchdog, the Competition Commission of India (CCI) has directed UltraTech Cement — which now controls India Cements — along with Dalmia Bharat and Shree Digvijay Cement, to furnish detailed financial records and income tax data following a Director General (DG) report that flagged violations of competition norms in a tendering process by ONGC.In its order dated May 26, …
Read More »
The Competition Commission of India (CCI) on Tuesday approved logistics services provider Delhivery’s proposed acquisition of a 99.4% stake in Ecom Express for a cash consideration of up to Rs 1,407 crore.“The proposed combination comprises the acquisition of at least 99.44 per cent of the equity and preference shareholding (on a fully diluted basis) of Ecom Express Ltd by Delhivery …
Read More »
NEW DELHI: Delays in regulatory clearances can lead to uncertainty and disrupt commercial timelines, finance minister Nirmala Sitharaman said on Tuesday as India negotiates trade deals with various countries, including the US.According to Sitharaman, also the corporate affairs minister, it is imperative that regulatory frameworks, while maintaining rigorous oversight, also facilitate swift and seamless approvals for combinations that pose no …
Read More »
NEW DELHI: Google has opted for a settlement with the Competition Commission of India (CCI) and payment of a penalty of Rs 20.2 crore in the Android TV issue, where the fairplay regulator found a prima facie case of abuse of dominant position by the global tech giant.This follows the two penalties that CCI previously slapped on Google, regarding its …
Read More »
NEW DELHI: Google has reached a settlement with the Competition Commission of India (CCI) in a case involving alleged unfair business practices in the Android TV segment. As part of the settlement, Google has agreed to pay Rs 20.24 crore to the regulator, according to news agency PTI. This marks the first case to be settled under the revised provisions …
Read More »
In a big move for the logistics industry, Delhivery has announced its acquisition of Ecom Express in an all-cash deal valued at Rs 1,407 crore. This deal, which marks the largest consolidation in the sector, comes at a time when Ecom Express has been grappling with financial difficulties and has recently cancelled its plans to go public. According to an …
Read More »
NEW DELHI: The Competition Commission has imposed a penalty of Rs 40 lakh on the investment manager of Goldman Sachs AIF for failing to notify the regulator about the more than four-year-old deal that gives the option to buy up to 3.81 per cent stake in Biocon Biologics. The penalty was levied on Goldman Sachs (India) Alternative Investment Management Pvt …
Read More »
Unews World