CCI Approves GRT Jewellers' Acquisition Of Majority Stake In Tribhovandas Bhimji Zaveri

The Competition Commission of India (CCI) on 13 October approved GRT Jewellers (India) Private Limited's proposed acquisition of a majority stake in Tribhovandas Bhimji Zaveri Limited (TBZ). It approved the transaction involving GRT Jewellers, a private limited company engaged primarily in the production and sale of gems and jewellery across India, acquiring a majority shareholding in TBZ, a publicly listed company operating in the gems and jewellery sector. The CCI stated that a detailed...

CCI Need Not Record Reasoned Order Before Ordering DG Probe: Calcutta High Court

The Calcutta High Court has recently held that the Competition Commission of India (CCI) need not record a separate, reasoned order setting out its prima facie opinion before directing the Director General (DG) to investigate under Section 26(1) of the Competition Act, 2002.“Section 26(1) does not contemplate recording of a reasoned order by the Commission,” a Division Bench of Justice Shampa Sarkar and Justice Arjun Ray Mukherjee observed. The Bench, however, found that the CCI had formed a...

CCI Clears CPP Investment Board's Acquisition Of Stake In Prestige Hospitality Ventures

The Competition Commission of India on Tuesday approved the proposed acquisition of certain shareholding in Prestige Hospitality Ventures Limited by CPP Investment Board Private Holdings (4) Inc.CPP Investment is a company incorporated in Canada and is managed by the Canada Pension Plan Investment Board (CPPIB). CPPIB manages the Canada Pension Plan Fund and invests across various asset classes globally, including public and private equities, real estate, infrastructure, fixed income and...

Government Instructions To Curb Tender Cartelization Do Not Usurp CCI's Powers: Orissa High Court

The Orissa High Court has dismissed a writ petition challenging government communications issued to ensure fair and transparent participation in open tenders and prevent cartelization and bid rigging, holding that the instructions did not usurp the statutory powers of the Competition Commission of India (CCI). The Court held that the communications merely contemplated administrative steps and possible reference of material to the CCI where evidence of cartelization was found. A Division...

Delhi High Court Allows Proceedings Against Ex-CCI Officer Over Witness Tampering In ONGC Cement Cartel Case

The Delhi High Court has dismissed an appeal by former Competition Commission of India Deputy Director (Law) Vijay Bishnoi against disciplinary proceedings over allegations that he tampered with witness statements during the CCI's investigation into alleged bid rigging in oil well cement tenders.A Division Bench of Chief Justice Devendra Kumar Upadhyaya and Justice Tejas Karia held that the CCI had duly approved the Draft Chargesheet and that the Memo of Charge issued on October 3, 2023 was the...

CCI Clears BNP Paribas Cardif's Acquisition Of Equity Stake In IndiaFirst Life Insurance

The Competition Commission of India has approved the proposed acquisition of certain equity share capital in IndiaFirst Life Insurance Company Limited by BNP Paribas Cardif.The transaction involves BNP Paribas Cardif, a company incorporated in France and wholly owned subsidiary of BNP Paribas SA, acquiring a stake in IndiaFirst Life Insurance Company Limited.BNP Paribas is a publicly listed company engaged in providing corporate and institutional banking, commercial and personal banking,...

CCI Clears L'Oréal India's 100% Acquisition Of Onesto Labs

The Competition Commission of India on Tuesday approved the proposed acquisition of 100% shareholding in Onesto Labs Private Limited by L'Oréal India Private Limited.L'Oréal India is engaged in the research, development, manufacture, marketing and sale of beauty and personal care products, including skincare and haircare products, in India. It also exports these products and markets them under various global brands. Onesto Labs is engaged in the manufacture and sale of beauty and personal care...

State Liquor Regulation Doesn't Bar CCI Probe Into Anti-Competitive Conduct: Madhya Pradesh High Court

The Madhya Pradesh High Court on 17 September held that the State's power to regulate liquor under the Madhya Pradesh Excise Act, 1915 does not conflict with the Competition Commission of India's (CCI) jurisdiction to investigate anti-competitive conduct under the Competition Act, 2002.A Division Bench of Justices Vivek Rusia and Pradeep Mittal dismissed a batch of writ petitions filed by distilleries and bottling units operating in Madhya Pradesh, challenging CCI proceedings, including its...

Rajasthan Royals, Paarl Royals, Barbados Royals Acquisition By Westview Cricket, Poonawalla Sports Gets CCI Nod

The Competition Commission of India on Thursday approved the acquisition of three professional cricket franchises namely Rajasthan Royals, Paarl Royals and Barbados Royals by Westview Cricket Limited and Poonawalla Sports and Fitness Private Limited.The proposed combination involves the acquisition of the Rajasthan Royals franchise in India, Paarl Royals in South Africa and Barbados Royals in Barbados by the two acquiring entities.Westview Cricket is a company incorporated in the United Kingdom,...

CCI Closes DVC Complaint Against West Bengal Power Distributor WBSEDCL Over Anti-Competitive Tariffs

The Competition Commission of India (CCI) has closed an Information filed by Damodar Valley Corporation (DVC) against West Bengal State Electricity Distribution Company Limited (WBSEDCL), finding no prima facie case of contravention of the Competition Act, 2002.DVC alleged that WBSEDCL used its dominant position in the wider electricity distribution market in West Bengal to strengthen its presence in the DVC Command Area, where the two utilities compete. It also accused WBSEDCL of predatory and...

CCI Closes Complaint Against Mahindra And Dealer Over Warranty Condition On Approved Consumables

On 9 September, the Competition Commission of India (CCI) closed a complaint against Mahindra & Mahindra Limited and its authorised dealer, Sri Durga Automobiles, over allegations that making vehicle warranty coverage conditional on the use of Mahindra-approved consumables amounted to anti-competitive conduct. A coram of Chairperson Ravneet Kaur with Members Sweta Kakkad and Deepak Anurag closed the information filed by Bharti Sharma, who alleged that Mahindra and its authorised dealer...

'For Public Welfare': CCI Closes Case Against Keralam's Priyadarshini Scheme Offering Free KSRTC Travel To Women

The Competition Commission of India on Tuesday closed proceedings against the State of Kerala and Kerala State Road Transport Corporation (KSRTC) over allegations that the Priyadarshini Scheme, a key promise of the newly elected Congress-led United Democratic Front Government, gave KSRTC an unfair competitive advantage over private stage carriage operators.The Scheme provides free travel to women and transgender persons on KSRTC buses. The Commission held that the State-funded welfare measure...