Ahmedabad, May 21 (IANS) Adani Ports and Special Economic Zone Ltd (APSEZ) on Thursday said it has signed a definitive agreement to acquire Jaypee Fertilizers & Industries Ltd (JFIL) for Rs 1,500 crore as part of the NCLT-approved resolution plan for Jaiprakash Associates Ltd (JAL).In a regulatory filing, the Adani Group company said it has entered into a share purchase agreement with JAL to acquire 100 per cent shareholding in JFIL, which is the holding company of Kanpur Fertilizers and Che…
Latest Competition Commission of India News & Updates
Ahmedabad, May 21 (IANS) Adani Power on Thursday said it has entered into definitive agreements with Jaiprakash Associates Ltd (JAL) to acquire a 24 per cent stake in Jaiprakash Power Ventures Ltd (JPVL) and the 180 MW Churk thermal power plant in Uttar Pradesh, under the NCLT-approved resolution plan for JAL.In a stock exchange filing, the Adani Group company said it has executed a Share Purchase Agreement to acquire JAL’s 24 per cent holding in Jaiprakash Power Ventures Ltd for about Rs 2,99…
New Delhi, May 9 (IANS) The Competition Commission of India (CCI) has ordered a detailed antitrust investigation into French liquor group Pernod Ricard over allegations that the liquor major entered into exclusive arrangements with retailers in Delhi to promote its brands and restrict rival products in the market.The fair trade regulator said it found prima facie merit in allegations that Pernod Ricard and associated entities may have engaged in ‘exclusive dealing agreements’ aimed at increasing…
New Delhi, May 9 (IANS) Fair trade regulator the Competition Commission of India (CCI) has ordered an investigation into French liquor group Pernod Ricard over allegations that the company extended financial assistance worth around Rs 200 crore to retailers in New Delhi in exchange for preferential stocking and promotion of its brands.The antitrust regulator’s order said the allegations relate to corporate guarantees provided by Pernod Ricard to help liquor retailers secure bank loans under De…
New Delhi, April 16 (IANS) The Competition Commission of India (CCI) has given a clean chit to Adani Enterprises and Adani Green Energy in a SECI tender case, finding no prima facie case of contravention of fair market competition norms warranting an investigation.”Upon consideration of the facts and circumstances of the present case, the Commission is of the view that there is no prima facie case of contravention of provisions of Sections 3 and 4 of the Competition Act warranting an investigati…
New Delhi, April 6 (IANS) In a setback to Vedanta Group, the Supreme Court on Monday declined to stay the implementation of Adani Enterprises’ resolution plan for debt-ridden Jaiprakash Associates Ltd.A bench, led by Chief Justice (CJI) Surya Kant, noted that the insolvency proceedings are already listed for final hearing before the National Company Law Appellate Tribunal (NCLAT) on April 10, and therefore found no reason to intervene at this stage.”In view of the fact that company appeals are n…
New Delhi, Feb 23 (IANS) Messaging platform WhatsApp on Monday informed the Supreme Court that it will comply with the directions issued by the Competition Commission of India (CCI) requiring the platform to provide users greater control over whether their data is shared with other Meta companies. A special bench of Chief Justice of India (CJI) Surya Kant and Justices Joymalya Bagchi and Vipul M. Pancholi permitted WhatsApp and its parent company Meta Platforms to withdraw their interim applicat…
New Delhi, Feb 22 (IANS) The Supreme Court is set to hear on Monday the pleas filed by Meta Platforms and WhatsApp challenging a penalty of Rs 213.14 crore imposed on them by the Competition Commission of India (CCI) over their privacy policy.A bench led by Chief Justice of India Surya Kant, along with Justices Joymalya Bagchi and Vipul M Pancholi, is likely to take up the matter.Earlier, on February 3, the court made strong remarks against the two companies, saying they cannot “play with the …
New Delhi, Feb 22 (IANS) The Supreme Court is slated to hear on Monday appeals filed by Meta Platforms and WhatsApp LLC challenging a National Company Law Appellate Tribunal (NCLAT) order that upheld a Rs 213.14 crore penalty imposed by the Competition Commission of India (CCI) over the messaging platform’s 2021 privacy policy and data‑sharing practices.As per the causelist published on the apex court’s official website, the matter is listed before a Special Bench of Chief Justice of India…
New Delhi, Feb 12 (IANS) The Competition Commission of India (CCI) on Thursday imposed a penalty of Rs 27.38 crore on chip-maker Intel Corporation (Intel) for its India specific warranty policy in respect of boxed microprocessors.The Commission, considering the fact that the India specific warranty policy was in place for eight years, imposed penalty at 8 per cent on the average relevant turnover of Intel.However, considering the mitigating factors including the discontinuation of the aforesaid …