Search Result for : Competition Commission Of India

The Dollar Business Bureau  The Competition Commission of India (CCI) has found Hyundai Motor India Limited (HMIL) for imposing arrangements upon its dealers which resulted in the inclusion of Resale Price Maintenance in the sale of passenger cars manufactured by  it. The arrangements also included monitoring of the maximum permissible discount levels through a Discount Control Mechanism. Further, HMIL was found to have instructed its dealers to use recommended lubricants/ oils and penalising them for use of non-recommended lubricants and oils.  The CCI has passed the final order after examining the information filed by the dealers of HMIL, Fx Enterprise Solutions India Pvt. Ltd. and St. Antony’s Cars Pvt. Ltd.  Apart from issuing a cease and desist order against HMIL, CCI has imposed ...

The Dollar Business Bureau Hindustan Unilever Ltd (HUL), India’s leading consumer goods company, said on Friday that it has completed the deal to sellits rice exports division to LT Foods Ltd. “With respect to the sale of rice export business of HUL carried out primarily under the brands ‘Gold Seal Indus Valley’ and ‘Rozana’, to LT Foods Middle East DMMC, a group Company of LT Foods India Ltd, the company has now completed the said transaction,” the FMCG major said in a filing to BSE. In another filing, LT Foods Ltd said, “To further enhance the company’s global expansion strategy, the buying of these famous brands of HUL will serve as a significant milestone in the path of LT Foods and support the firm’s position ...

The Dollar Business Bureau | The world's biggest maker of cement, LafargeHolcim Ltd, said on Monday that it will sell its share in the Lafarge India to detergent and soap maker, Nirma Ltd, for an enterprise value of around $1.4 billion (Rs.9300 crores), in line with its divestment programme. Lafarge India has three plants of cement and two grinding stations, which have a capacity to produce around 11 million tonnes per year. The company also sells aggregates and is one of India’s largest manufacturers of ready-mix concrete. “LafargeHolcim Ltd announces that it has signed a letter of agreement with Nirma Ltd to divest its stake in Lafarge India for an enterprise value of about $1.4 billion,” Lafarge said in ...

The Dollar Business Bureau Hindustan Unilever Ltd (HUL), a leading Indian FMCG company, has got the approval of the fair trade regulator Competition Commission of India (CCI), for selling its business of rice exports to LT Foods Ltd. The pact, which was announced in March 2016, permits transfer of HUL’s brands and inventory of Rs.25 crore to Delhi-based LT Foods, which holds the basmati rice brand - Dawat.   In a tweet, the fair trade regulator said that it has given its approval to the “acquisition of HUL’s rice business by LT Foods.” The FMCG major’s decision to sell its rice business is in sync with its strategy to withdraw from non-core operations while continuing to stimulate its growth plan in the core segment ...

The Dollar Business Bureau The statutory organisation, Competition Appellate Tribunal (Compat), put to one side the Rs.1,773 crore fine imposed on the state-owned coal mining company, Coal India, for unfair business practices and asked Competition Commission of India (CCI) to thinkover the matter again. The tribunal has also set aside two more orders delivered by the CCI, that was in relation to Coal India, where the regulator did not enforce any fine. The instructions by CCI have been put down by Compat saying that CCI had not allowed the subject of natural justice when hearing them out. CCI had found that the state-run miner and its three divisions, Western Coalfields, Mahanadi Coalfields and South Eastern Coalfields, were taking undue advantage of their dominant position ...

The Dollar Business Bureau Competition Commission of India (CCI) has given its approval to the acquisition of DuPont’s copper fungicide business by Kocide, a fully-owned arm of Japan-based Mitsui & Co Ltd. Kocide LLC was established in July 2014 for the purpose of acquiring copper fungicide worldwide. As per the combination document available with the CCI, the company does not have any business activities in India. CCI, a government body responsible to prevent activities that have an adverse effect on competition in India, in a tweet, said that it has given its approval to the "acquisition of DuPont’s copper fungicide business by Mitsui and Kocide". The regulator considered the copper fungicides market in India, as relevant for the deal. Dupont, a US-based company, has considerable operations ...

The Dollar Business Bureau Fair trade regulator Competition Commission of India (CCI) will soon come out with changes in its rules to ease the process of mergers and acquisitions (M&As) and reduce the time for clearing such deals to 30 days. Experts are already working on a fresh set of regulations which is expected to be put in place by the end of December. “We are actively and quickly reviewing regulations, we have called for comments from some of the law firms which have been filing with us and I think before this year ends, which is in the next few days and 2016 starts, we will make further changes on things which have been bothering companies in terms of authorised ...

 Source: PIB, Government of India The Competition Commission of India (‘the Commission’), in its order dated 27.7.15 has found 3 Car Companies, namely, Hyundai Motor India Ltd. (Hyundai), Mahindra Reva Electric Car Company (P) Ltd. (Reva) and Premier Ltd. (Premier) to be in contravention of the provisions of the Competition Act, 2002 (‘the Act’). The instant order is in continuation of Commission’s main order in the same case dated August 25, 2014 vide which the Commission had inter alia imposed penalties on fourteen out of the seventeen car companies under Section 27 of the Act. The order against Hyundai has remained pending pursuant to the writ petition filed by it in the Madras High Court challenging the jurisdiction ...