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Merger & Acquisitions to get a fillip as CCI facilitates e-filing

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By NewsGram Staff Writer

Industry regulator Competition Commission of India (CCI) on Friday said that it will facilitate electronic filing of documents, including approvals of merger and acquisition (M&A) proposals, from October 1.

“CCI will enable e-filing from October 1,” CCI chairman Ashok Chawla said at a CII conference in Mumbai.

He also said the CCI and its role would come into sharper focus in the current year which is expected to witness a 20 per cent increase in mergers and acquisitions as compared to the previous year.

“The CCI is not a quasi-judicial body, but a body of experts, and this sets apart its role as a regulator. It is not just about ensuring compliance, but rather about ensuring right ‘behaviour’, of ensuring that compliance is done keeping the right ‘spirit’ in mind, and not just the text of the law,” he added.

The move assumes significance as it would help the regulator in faster disposal of M&A cases, whose numbers have been on an upward trend.

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Google Looking Towards Working With India’s Anti-Trust Regulator CCI

The CCI said it imposed the fine after taking into account Google's revenue from its India operations only.

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"Android has enabled millions of Indians to connect to the Internet by making mobile devices more affordable" Pixabay

Tech giant Google on Friday said the company is looking forward to working with India’s anti-trust regulator the Competition Commission of India (CCI) on issues related to the Android mobile operating system.

Reacting to a Reuters story that the CCI has ordered a probe into Google for alleged abuse of its popular Android OS to block rivals, the company said it is ready to allay any such fears.

“Android has enabled millions of Indians to connect to the Internet by making mobile devices more affordable,” a Google spokesperson said in a statement shared with IANS.

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Google has abused its market dominance by imposing a number of restrictive clauses in contracts with third-party websites which prevented Google’s rivals from placing their search adverts on these websites. Pixabay

“We look forward to working with the Competition Commission of India to demonstrate how Android has led to more competition and innovation, not less,” the spokesperson added.

Google last year filed an appeal with the National Company Law Appellate Tribunal (NCLAT) against a judgment by the fair trade regulator that fined the tech giant Rs 136.86 crore in February for abuse of its dominance and biased search practices in India.

The CCI verdict in February came in response to complaints filed by Matrimony.com and Consumer Unity and Trust Society (CUTS), a consumer organisation, in 2012.

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The European Union’s antitrust regulators in March fined Google 1.49 billion euros ($1.7 billion) for abusing its dominance in the online search market by blocking rivals. Pixabay

The competition watchdog said the penalty was being imposed on Google for “infringing anti-trust conduct”.

The CCI said it imposed the fine after taking into account Google’s revenue from its India operations only.

Also Read: Japan-Vietnam Build Defense against China Military to Resist Expansion

The European Union’s antitrust regulators in March fined Google 1.49 billion euros ($1.7 billion) for abusing its dominance in the online search market by blocking rivals.

“Google has abused its market dominance by imposing a number of restrictive clauses in contracts with third-party websites which prevented Google’s rivals from placing their search adverts on these websites,” the European Commission (EC) had said in a statement. (IANS)