BUSINESS
Jet Airways CEO: Ready to re-launch within 60-90 days of the transfer of ownership
Jet Airways CEO Sanjiv Kapoor denies any standoff between the Kalrock Capital-Murari Lal Jalan consortium that is looking to finalise the takeover of the defunct airline and its lenders, adding that parties are working together for the implementation of the approved resolution plan.
BUSINESS
Max, Fortis, Apollo and other big hospital chains have been overcharging patients: CCI investigation
The potential penalty by India’s fair trade regulator could be steep. The CCI investigation is the first such action against exorbitant prices of medicines and services fixed by hospitals, which have operated free of regulation so far.
BUSINESS
Exclusive: New bill on competition law to give more power to regulator on seizures and raids, broaden scope of approvals
Through Competition (Amendment) Bill, 2022, the government is looking to increase the penalty for offences and hasten approvals of mergers and acquisitions by CCI.
BUSINESS
Big hospital chains face CCI scrutiny over inflated prices of medicines and medical devices
Competition Commission of India (CCI) has demanded answers from Max Healthcare, Fortis Healthcare and Apollo Hospitals on how they fix prices of medicines and medical devices. Action could rein in soaring drug prices in India.
BUSINESS
What Rakesh Gangwal’s exit from IndiGo board means, and the future of the airline, explained
A primer on all the essential questions on Rakesh Gangwal’s decision to exit the IndiGo board and the future of India’s largest airline.
BUSINESS
Crisis-hit SpiceJet faces another test today: A crucial payments dispute in Supreme Court
The airline is appealing against a Credit Suisse AG petition to wind up operations after a long standoff over unpaid dues of almost Rs 180 crore.
BUSINESS
CCI charges against Amazon followed Future Group complaint that ecommerce firm hid vital parts of deal
Future Group contends that Amazon.com concealed salient parts of their contract while seeking approval to purchase its unit Future Coupons Private Ltd (FCL) in 2019. If the CCI was informed about the clauses in the Amazon-FCL contract, it could possibly not have cleared the deal or at the very least delayed giving permission, say competition lawyers.
BUSINESS
What happens if India bans cryptocurrency? Join Moneycontrol Masterclass at 6 pm today to find out
A-list panel to discuss and debate the topic ‘Cryptocurrencies Ban-Will India Lose Out?’ Balaji S Srinivasan, Investor and Entrepreneur; R Gandhi; Former Deputy Governor, and Nischal Shetty, Founder & CEO, WazirX, among speakers.
BUSINESS
Exclusive | Steel companies face CCI scrutiny for alleged price cartelisation
India’s anti-trust regulator, Competition Commission of India (CCI) is investigating if steelmakers colluded to hike rates, which have shot up by more than 45 percent since June 2020.
ECONOMY
Citing COVID-19 pain, CCI lets off cartel that rigged Railway tenders with a warning
India’s fair-trade regulator had the option of heavily penalising a 10-member cartel that includes units of Escorts and TVS because it had conclusive proof of them rigging Railways bids of roughly Rs 2,000 crore. Instead, they were let go with only a warning.
BUSINESS
CCI dismisses complaint by Beverly Hills Polo Club owner against Amazon units in India
Apparel seller Lifestyle Licensing BV of the Netherlands accused Amazon India of abusing dominance and indulging in unfair business practices. CCI refers to Amazon India’s competitors in the Indian online fashion retail market to reject charges of dominance
BUSINESS
Delhi High Court, hearing Kalanithi Maran plea, orders SpiceJet to deposit Rs 243 crore within six weeks
The amount is an interest payout of the sum Kalanithi Maran, the former SpiceJet promoter, and his KAL Airways won as refund from the low-cost airline in 2018. Final decision on three-year-old share transfer dispute expected in November.
BUSINESS
Exclusive | Zomato parts ways with company it roped in to deliver food through drones
Online food delivery company Zomato ends arrangement with TechEagle; says it will still go ahead with drone plans
BUSINESS
Exclusive I Competition regulator launches probe into Zomato-Uber Eats deal
CCI examining if Zomato’s acquisition of Uber Eats India is anti-competitive and whether the two companies should have notified it about the transaction. Probe could impact similar deals between leading players.
