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Corporate Affairs Minister Dr. M.Veerappa Moily had said the Competition Commission of India compliments Sectoral Regulators and there is no question of encroachment on the jurisdiction of Sectoral Regulators. Dr. Moily stated this today while interacting with the Press on the occasion of releasing a compendium titled “Innovative March to New Horizon of Corporate Growth” to highlight the achievements of the Ministry of Corporate Affairs. The Minister observed that Competition Commission of India is a Market Regulator whose mandate is to foster competition and protect the markets from anti competitive practices.
Competition Commission of India (CCI) has imposed a penalty of Rs.5.66 crores on Schott Glass India Private Limited (Schott India) for violating the provisions of the Competition Act. The Commission in its order has held that Schott India has abused its dominant position in the industry by imposing unfair and dissimilar discounts which has resulted in an adverse impact on the converters in the downstream market.
The Competition Appellate Tribunal (Compat) today stayed the 630 crore penalty imposed by fair trade watchdog Competition Commission of India (CCI) on realty major DLF over alleged abuse of dominant market position. However, the tribunal clarified in an interim order that if DLF loses its case, the company will have to deposit the entire amount […]
The Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh today informed the Lok Sabha that an information alleging cartelization by Synthetic Fiber Manufacturer Companies has been received by the Competition Commission of India (CCI). The Commission has directed Director General, CCI to conduct investigation in the said matter.
In exercise of the powers conferred by sub-section (1) of section 53-O of the Competition Act, 2002 (12 of 2003), the Competition Appellate Tribunal hereby makes the following regulations or regulating the procedure of appeals and applications, lamely:— 1. Short title and commencement.—(1) These regulations may be called the Competition Appellate Tribunal (Procedure) Regulations, 2011,
In the long-running tussle between the National Stock Exchange (NSE) and its younger rival MCX-SX, the Competition Commission is believed to have penalised NSE for abusing its dominant market position. As a penalty, NSE has been asked to pay 5% of its average annual turnover and also “cease and desist” of unfair trade practices in the currency derivative trading, sources said.
Ministry of Corporate Affairs has proposed the name of former Finance Secretary Ashok Chawla as the next Chairman of the anti-trust watchdog Competition Commission of India (CCI). The Ministry of Corporate Affairs has sent Chawla’s name for ACC (Appointments Committee of Cabinet) approval, a top source in the ministry told PTI.
Shri Dhanendra Kumar said the Competition Commission of India (CCI), under its mandate to make markets function for the consumer and to ensure fair and healthy competition in the Indian Economy, is initiating series of market studies to analyse and monitor the competitive dynamics in the various industries of the Indian Economy. As part of this series, the sectors of Agriculture, steel and paper has been taken up by the commission in its initial phase.
The CCI under the draft regulations dated March 2, 2011 had first introduced the provision for pre-filing consultation. However, this found no mention in the recently issued final Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Regulations, 2011, dated May 11, 2011. The CCI has now, in accordance with international best practices, re-introduced the facility of informal and verbal consultation with the staff of CCI prior to the filing of notice under the Act in connection with the proposed combination.
The Delhi High Court today asked Competition Commission to provide the NSE by friday its complete order including views of members dissenting with the majority ruling that held the bourse guilty of abusing market dominance.
