The proposed combination envisages the merger of HDFC Investments and HDFC Holdings with HDFC Ltd in the first step and subsequently, the merger of HDFC Ltd into HDFC Bank
The CCI noted that a cease and desist order would subserve the ends of justice in the case.
The proposed combination involves the acquisition of up to 24.98 per cent shareholding of IIFLWM by BC Asia Investments X Limited, a notice issued by the anti-trust regulator said.
The setback faced by Amazon is also likely to act as a cautionary tale for others who are likely to seek CCI approval in line with regulatory compliance, legal experts believe.
A senior source at the Competition Commission of India (CCI), which conducted the raid, rejected the allegations, saying it had obtained the requisite legal approvals and was in line with the watchdog's regulatory processes.
Cloudtail questioned raids on its premises on the ground that it is not named as a party in the probe order. CCI said Cloudtail's status as an alleged preferred seller on Amazon is being probed.
Media reports had speculated that the conglomerate was planning to buy Nirma’s company
Speaking at 'Being Future Ready Business Summit 2022’, the CII President observed that a responsible and conscious industry must think beyond its own priorities to drive positive change for the nation.
NCLAT had in January upheld CCI's finding which said Ola was not in a dominant position to abuse its position in Bengaluru as claimed by Meru
The raids follow complaints from Bharat Coking Coal Limited, a unit of Coal India, and were related to price rigging of tenders worth at least 20 billion rupees ($260 million), two other sources said.
The Competition Commission of India (CCI) started early on Thursday raiding two top domestic sellers on Amazon's platform - Cloudtail and Appario - as well as some sellers on Walmart's Flipkart, following allegations the sellers and marketplaces had breached competition law.
Under the transaction, the minority stake would be purchased by Multiples Private Equity Fund III, SRF Transnational Holdings Ltd, Balkrishna Industries Ltd, Dharmayug Investments Ltd, QRG Investments and Holdings Ltd, Nishant K Agarwal and Mallika Srinivasan, according to a notice filed with the watchdog.
The three under investigation - SBICAP Trustee Company, Axis Trustee and IDBI Trusteeship - are among the leaders in the business in India overseeing hundreds of billions of dollars by rendering trustee services for not just debt securities, but also real estate and other investment funds.
Besides slapping penalties on 24 of them, the watchdog has directed them to cease and desist from anti-competitive practices.
Dr Kumar said patients should look at the bundled service costs and not prices of medicines or devices.
The offices of Apollo Tyres, Ceat and Continental AG were raided by CCI on March 30 for alleged unfair trade practices and rigging of bids
The impact of the COVID-19 on the film screening business and competition from streaming platforms were the key reasons for the merger between PVR and INOX, said top executives from both companies.
In a one-of-its-kind move, the CCI kept in abeyance its approval for the 2019 investment deal on the grounds that Amazon had not divulged its real intention with respect to the investment deal with Future Coupons.
The proposed combination relates to acquisition of 100% equity share capital of L&T AMC by HSBC AMC from L&T Finance Holdings Limited (L&T Sponsor/Seller) and its nominees.
Tells Supreme Court it will not initiate criminal proceedings against Future as reported by the media.
Asking the parties to file their replies within a period of ten days, the NCLAT fixed the next date of hearing for February 2.
The filings are the latest in the bitter legal dispute which has embroiled Amazon, Future and Reliance over what is seen as a battle for retail supremacy in India's booming consumer market
The bench headed by high court’s chief justice was hearing an appeal filed by Future group after the Kishore Biyani-led companies faced a setback before a single-judge bench.
The case against Apple pertains to its control over the app market for iOS ecosystem, according to the order from the anti-trust watchdog.
CCI had in November 2020 directed a probe into the issue of mandatory use of Google Play Store’s payment system for paid apps & in-app purchases.