Competition commission of India

Retailers Demand CCI to Take Action Against Walmart-Flipkart Deal

22May By Lavina TolaniNo Comments

News

Retailers Demand CCI to Take Action Against Walmart-Flipkart Deal

Traders Body, Confederation of All India Traders ( CAIT ) has decided to approach fair trade regulator CCI against $16 billion Walmart-Flipkart deal claiming that the agreement would lead to massive job loss and will turn out a nightmare for retail trade in the country. It is interesting to note that US giant Walmart had approached CCI just last week to garner approval for its mega Flipkart buyout stating that it doesn't raise any competition concerns. Meanwhile, the All India Online Vendors Association (AIOVA) industry body on Monday has also moved to Competition Commission of India (CCI) against Flipkart India Pvt Ltd. a wholesale company, for allegedly abusing its dominant position on Flipkart's online marketplace. The body has claimed that Flipkart India Pvt Ltd. sources goods...

Walmart Approaches CCI For Approval Over Flipkart Acquisition

20May By Lavina TolaniNo Comments

News

Walmart Approaches CCI For Approval Over Flipkart Acquisition

After acquiring Indian e-commerce unicorn Flipkart, US giant Walmart Inc. has finally sought approval of India's Anti-Trust Regulator for its mega $16 billion acquisition. According to a Regulatory Filing sent to Competition Commission of India (CCI), Walmart has said that its buyout of Flipkart does not result in competition concerns as the broader retail market in India remains unaffected by the deal. Walmart has reported CCI that Flipkart is a Singapore based entity and the deal has been done through its subsidiary Walmart International Holdings. Moreover, Since Flipkart India is primarily engaged in the business of wholesale cash and carry goods, its acquisition will only affect B2B markets, Walmart added. Notably, Walmart has been facing resistance by tough regulations that p...

Competition Commission of India Imposes Rs 136 Crore Fine on Search Giant Google

9Feb By RishabhNo Comments

News

Competition Commission of India Imposes Rs 136 Crore Fine on Search Giant Google

Competition Commission, the statutory body of India, has imposed a fine of Rs 136 crore (around $ 21.1 million) after finding it guilty of abusing its dominant position in India. The amount of penalty charges is equivalent to about 5 percent of Google's revenue from India. What is the case all about? The case was filed back in 2012 by Matrimony.com, former Bharat Matrimony (Case No. 7), and Consumer Unity & Trust Society (Case No. 30), when they complained the watchdog CCI about Google's about Google's anti-competitive behavior. Alphabet Inc's search giant provides online search services and advertisement space- AdWords and AdSense. The complaints submitted to the CCI focused on Google's biased search results, in which it was favoring Google's own services and partners, ...

Alibaba.com Seeks CCI To Acquire Stakes In BigBasket

10Nov By RishabhNo Comments

FUNDING

Alibaba.com Seeks CCI To Acquire Stakes In BigBasket

Chinese e-tailing giant Alibaba has been reported seeking formal approval Competition Commission of India(CCI) to acquire substantial stakes in the Indian online grocery startup BigBasket. Earlier in July, Alibaba and SoftBank backed Paytm initiated a discussion to acquire stakes by investing $200 million in the online grocer. Although Paytm and BigBasket declined at that moment about the development. As soon as it gets the permit Alibaba Group Holding's Alibaba.com Singapore E-Commerce will carry out the transaction. As per the source VCCircle this acquisition will help the online grocery firm BigBasket to consolidate its numero uno position and help it compete with rival Amazon, who has committed $500 million towards its food retail unit in the coming 2 years. Also Recomm...