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New Delhi, Apr 8: Japan's MUFG Bank on Wednesday acquired a 20 per cent stake in Shriram Finance Ltd (SFL) for Rs 39,618 crore. The transaction represents the largest cross-border investment in India's financial services sector. Board approval and share allotment "This follows the approval by SFL's Board of Directors, at its meeting held today, of the allotment of equity shares to MUFG Bank through a preferential issue," SFL said in a statement. MUFG Bank has subscribed to 471,121,055 equity ...Read More >
New Delhi, Apr 8 (PTI) Japan's MUFG Bank on Wednesday acquired 20 per cent stake in Shriram Finance Ltd (SFL) for Rs 39,618 crore. The transaction represents the largest cross-border investment in India's financial services sector. "This follows the approval by SFL's Board of Directors, at its meeting held today, of the allotment of equity shares to MUFG Bank through a preferential issue," SFL said in a statement. MUFG Bank has subscribed to 471,121,055 equity shares at an issue price of Rs 8 ...Read More >
Mumbai: Aditya Birla Capital has moved a step closer to strengthening its housing finance arm, after securing a critical regulatory nod for a major capital infusion. Aditya Birla Capital Limited confirmed that the Competition Commission of India has approved its proposed Rs 2,750 crore primary investment in Aditya Birla Housing Finance Limited. The approval, granted via a letter dated April 7, 2026, enables the company to proceed with the transaction under the Competition Act, 2002. This marks ...Read More >
New Delhi: The Competition Commission of India (CCI) on Tuesday approved Advent International's proposal to pick up a 14.3% stake in Aditya Birla Housing Finance. In February, the boards of Aditya Birla Capital and its subsidiary Aditya Birla Housing Finance (ABHFL) had cleared a proposal for a primary capital infusion of Rs 2,750 crore in ABHFL from Indriya, an Advent International entity. "The proposed combination envisages acquisition of equity shares (by way of preferential issue on a priv ...Read More >
Patna, Apr 4 (PTI) Supreme Court judge Justice BV Nagarathna on Saturday urged the Centre to view states as "coordinates and not subordinates" and asserted that the separation of powers was a "constitutional arrangement of co-equals." Delivering a lecture at the Chanakya Law University in Patna, Justice Nagarathna also called for keeping aside "inter-party differences" in the matter of "Centre-state relations", underscoring that governance must not depend on "which party may be ruling the Centre ...Read More >
The government on Tuesday appointed senior Indian Administrative Service (IAS) officer Vir Vikram Yadav as the Director General of the Directorate General of Civil Aviation (DGCA), replacing Faiz Ahmed Kidwai. Kidwai, a 1996 batch IAS officer of Madhya Pradesh cadre, has been appointed as additional secretary in the department of personnel and training (DoPT), according to an order by the Appointments Committee of the Cabinet (ACC). Yadav, an Odisha cadre IAS officer who replaces Kidwai at DGC ...Read More >
New Delhi/Bhubaneswar: Odisha-cadre IAS officer Vir Vikram Yadav has been appointed Director General of the Directorate General of Civil Aviation (DGCA) under the Ministry of Civil Aviation in a reshuffle of senior bureaucrats by the central government on Tuesday. The 1996-batch officer was serving as Additional Secretary, Ministry of Environment, Forest & Climate Change. Yadav will replace Faiz Ahmed Kidwai, who has been appointed as Additional Secretary in the Department of Personnel and Trai ...Read More >
New Delhi, Mar 31 (PTI) Senior bureaucrat Vir Vikram Yadav has been appointed as the chief of Directorate General of Civil Aviation (DGCA) as part of a senior-level bureaucratic reshuffle effected by the Centre on Tuesday. Yadav, a 1996 batch Indian Administrative Service (IAS) officer of the Odisha cadre, succeeds incumbent Faiz Ahmed Kidwai, who has now been appointed as Additional Secretary, Department of Personnel and Training (DoPT). Yadav is an Additional Secretary, Ministry of Environme ...Read More >
The Appointments Committee of the Cabinet (ACC) has approved significant appointments of senior Odia officers to top positions in the Government of India. IRS officer Ansuman Pattanaik (IT:94), currently serving as Director General of the Competition Commission of India, has been appointed as Additional Secretary in the Ministry of Corporate Affairs. His elevation reflects his expertise in regulatory and corporate governance matters. IAS officer Chandra Sekhar Kumar (OR:92), serving as Secreta ...Read More >
New Delhi, Mar 30 (PTI) Morpheus Research on Monday released a report accusing travel booking platform MakeMyTrip of indulging in "anti-competitive practices" despite a significant penalty order from the Competition Commission of India (CCI) in 2022 directing the company to stop such practices. According to the report, Morpheus Research, an activist short-seller, which disclosed a short position in the company, alleged that MakeMyTrip continues to enforce price parity arrangements with hotel pa ...Read More >
New Delhi, Feb 23 (PTI) Global tech giants Meta Platforms Inc. and WhatsApp told the Supreme Court on Monday that they will comply with the NCLAT's directions for extending the Competition Commission of India's (CCI) privacy and consent guidelines to advertising-related data. A bench of Chief Justice Surya Kant and Justices Joymalya Bagchi and Vipul M Pancholi was hearing appeals filed by the tech giants against the National Company Law Appellate Tribunal's (NCLAT) directions of December last y ...Read More >
New Delhi: Fair trade regulator CCI on Tuesday cleared conglomerate ITC Ltd's proposal to acquire the pulp and paper business of Aditya Birla Real Estate Ltd (ABREL) for Rs 3,498 crore. The development came after ABREL in March this year announced that its board has approved the execution of the business transfer agreement for the divestment of the pulp and paper undertaking situated in Lalkuan, Uttarakhand, by way of a slump sale to ITC. The Competition Commission of India (CCI) said it has ap ...Read More >
The Competition Commission of India has approved ITC Ltd's Rs 3,498-crore acquisition of Aditya Birla Real Estate's pulp and paper business in Uttarakhand. The slump-sale deal will transfer Century Pulp and Paper to ITC. ABREL said the divestment will unlock value and allow sharper focus on its core real estate business, while ITC strengthens its paperboards and packaging segment. New Delhi: Fair trade regulator CCI on Tuesday cleared conglomerate ITC Ltd's proposal to acquire the pulp and pape ...Read More >
During the hearing, senior advocate Abhishek Singhvi, representing Apple Inc, submitted that they have received the copy of a joint reply of the ministry and CCI last night and urged the court to grant some time to file the rejoinder. New Delhi: The Delhi High Court on Tuesday directed the Centre and Competition Commission of India to place on record their response filed on a plea by tech giant Apple Inc challenging CCI's direction to furnish the firm's audited financial statements for several ...Read More >
New Delhi, Dec 1 (PTI) Tilaknagar Industries Ltd on Monday said it has completed the acquisition of Imperial Blue business division from Pernod Ricard India (PRI), a step-down unit of the French spirits major, via a slump sale for a lump sum consideration of Rs 3,442 crore. The lump sum consideration paid to PRI is subject to post-closing adjustments in accordance with the terms and conditions set out in the Business Transfer Agreement, according to a statement issued by Tilaknagar Industries L ...Read More >
MUMBAI: The US-based private equity firm Blackstone is set to acquire nearly 10% stake in Federal Bank for Rs 6,196.5 crore. The Kerala-based bank's board approved the proposal on Friday, it now requires shareholder and regulatory clearances, including from RBI and Competition Commission of India. This is the latest instance where an Indian lender has tapped private capital through a large-ticket deal this year. The deal activity has driven debate on whether RBI is taking a more liberal view of ...Read More >
Mumbai, Oct 19 (PTI) RBL Bank expects Emirates NBD Bank's USD 3 billion fund infusion, the largest FDI in the financial services sector, to close by June next year, once the regulatory and government approvals are secured, a top official said on Sunday. RBL Bank will merge with NBD's wholly-owned subsidiary operating in India and become a "listed foreign bank subsidiary" post-deal, the management said. "Our aspiration is to grow multi-fold, and the capital will help. We are now a mid-sized sma ...Read More >
Flipkart and Amazon India have been under ED scrutiny for alleged breach of FEMA provisions. The Enforcement Directorate (ED) is learnt to have offered the option of closing a FEMA violation case against e-commerce major Flipkart if the Walmart group firm admits its mistake and pays a penalty, sources aware of the development said. The option was given by the Enforcement Directorate to Flipkart last week under the compounding rules of FEMA (Foreign Exchange Management Act). "ED has given the ...Read More >
New Delhi, Sep 27 (PTI) Independent Sugar Corporation, an Uganda-based Madhvani Group firm, has announced the completion of its acquisition of debt-ridden glass manufacturer Hindustan National Glass & Industries through the Insolvency and Bankruptcy Code process. On Friday, in a duly convened meeting of Hindustan National Glass & Industries Limited's (HNGIL) newly constituted board, the company formally recorded the conclusion of this transition, clearing the way for Independent Sugar Corporati ...Read More >
NEW DELHI, Sept 16 (Reuters) - India's antitrust inspectors have conducted surprise raids at steel pipe makers Jindal SAW (JIND.NS), opens new tab and Maharashtra Seamless (MHSM.NS), opens new tab in an alleged case of bid rigging, two people with direct knowledge of the matter said on Tuesday. The raids were conducted at offices of Jindal SAW and Maharashtra Seamless in and around New Delhi on Monday, and the search operation has now concluded, the two sources said. Reuters is first to report ...Read More >
New Delhi: Fair trade regulator CCI has "erroneously" defined the relevant market and has not identified any actual conduct by Meta, which has or would have denied market access to rivals, Meta Platforms told NCLAT on Monday. Senior Advocate Amit Sibal, appearing for Meta, submitted that the Competition Commission of India (CCI )'s entire case is based on future conduct and hypothetical scenarios. "This falls woefully short of the legal standard in Section 4(2)(c), which requires that for a fin ...Read More >
Apollo Hospitals Enterprise Ltd will acquire International Finance Corporation's 31% stake in Apollo Health and Lifestyle Ltd for ₹1,254.07 crore, making AHLL a wholly-owned subsidiary. This move aims to consolidate ownership, improve operational efficiencies, and enable better integration with diagnostic services. Additionally, a comprehensive oncology facility will be established in Gurugram with an investment of ₹573 crore. Healthcare chain Apollo Hospitals Entreprise Ltd on Friday said i ...Read More >
Jaipur, Aug 28 (PTI) The Rajasthan High Court on Thursday cancelled the contentious police sub-inspector recruitment exam-2021 owing to paper leak. Justice Sameer Jain in a detailed judgment cancelled the exam 2021 which was the bone of contention for both BJP and Congress governments in the state. "Illegality and fraud on the system was so conspicuous. It is strange that the state government did not take action any decision on the subject. The court's decision hopefully will act as a deterren ...Read More >
New Delhi: Wilmar International, through its arm Lence Pte, has sought approval from the fair trade regulator CCI to acquire a 20 per cent stake in AWL Agri Business Ltd from the Gautam Adani-led Adani group.The move came after Adani Group last month announced that it had sold a 20 per cent stake in AWL Agri Business (formerly Adani Wilmar Ltd) to Singapore-based Wilmar International for Rs 7,150 crore, as part of its decision to exit the FMCG business and focus on its infrastructure vertical. ...Read More >
NEW DELHI, Aug 14 (Reuters) - Publicis has sued India's antitrust watchdog for denying access to case files in a high-profile price-fixing investigation of ad agencies, after the French group failed to get the probe stalled until it could review the documents, court filings show. The Competition Commission of India (CCI) shook India's near-$30 billion media and entertainment sector in March with dawn raids at WPP's (WPP.L), opens new tab GroupM, Dentsu (4324.T), opens new tab, Publicis (PUBP.PA ...Read More >
Gurugram : JSW MG Motor India today announced that India's best-selling EV, the MG Windsor, has achieved another remarkable milestone. In July, the company set a new record for Windsor sales, selling 4,308 units in a single month. The carmaker has sold nearly 36,000 units of the MG Windsor since its launch. The robust sales performance has helped the company expand its market share in the EV Segment. In Q2 CY'25, the company recorded a 4% increase in market share, rising to 32% from 28% in Q1 C ...Read More >
NEW DELHI - Top India executives of FedEx, UPS, Aramex and DHL are set to be cross-examined in coming weeks by a book publishers' group which accused them of price collusion, a new twist in an antitrust probe that cleared the courier companies of wrongdoing last year, a document shows. Allowing a complainant to interrogate companies is not common in Indian antitrust cases. It means the final findings of the antitrust investigation could change and create new challenges for the courier majors, a ...Read More >
New Delhi, Aug 3: Google on Sunday said it is reviewing the Competition Commission of India (CCI) orders into its conduct in the online display advertising market. The trade regulator ordered a thorough probe over a complaint filed by the Alliance of Digital India Foundation (ADIF). The CCI said it has decided to club the complaint with ongoing investigations in similar cases and directed the Director General (DG) to carry out a consolidated probe into Google's conduct in the AdTech ecosystem. ...Read More >
Bengaluru: Real-money gaming platform WinZO has raised concerns over Google's plea to the Competition Commission of India (CCI), arguing that it does not adequately address the anti-competitive issues flagged in an ongoing investigation. The case originates from WinZO's 2022 complaint alleging that Google abused its dominant position by restricting Play Store access to only fantasy sports and rummy apps while excluding other real-money gaming categories. With Google controlling 96% of India's ap ...Read More >
Bengaluru: The Karnataka Commercial Tax Department has once again issued a clarification regarding the recent tax notices sent to bakeries, condiments, and tea stalls in Bengaluru. Following earlier backlash, the department had stated that traders with annual turnover below ₹1.5 crore can opt for the Composition Tax Scheme and pay only 1% tax, offering significant relief. Now, in a press release, the department reiterated that traders who have received notices should visit their respective tax ...Read More >
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