CCI awaiting probe report on Google: Govt

Last Updated: Friday, August 8, 2014 - 17:34

New Delhi: Competition Commission, which has ordered a probe into alleged unfair business ways of Internet giant Google, is awaiting report from its investigation arm.

"The Competition Commission of India (CCI), on receipt of information of alleged abuse of dominance by Google, has directed Director General, CCI to investigate the matter," Minister of State for Corporate Affairs Nirmala Sitharaman informed the Lok Sabha in a written reply.

"Investigation report in the matter is awaited," the minister added.
The fair trade regulator had ordered a probe against Internet major Google for alleged abuse of its dominant position in the online search advertising space.
Google has also come under the scanner of competition watchdogs in other countries as well.

To a separate question on National Company Law Tribunal and the National Company Law
Appellate Tribunal, the minister said that the formation of these two bodies "has been kept in abeyance on account of a legal challenge in the Supreme Court to certain provisions of the Companies Act, 2013 relating to the constitution and composition of these bodies.

"The detailed procedure for transfer of pending cases will be finalised by the NCLT after it is established," she added.
Separately, Sitharaman also informed the House that under the new Companies Law, board of directors of a firm "may contribute to bona fide and charitable funds and other funds.

"However, prior permission of the company in general meeting is required for such contribution in case any amount the aggregate of which, in any financial year, exceeds 5 per cent of its average net profits for the three immediately preceding financial year".

Additionally, she said that any such contribution made by the company has to be reflected in its accounts.

"Government has not received any suggestion from any quarter to change this standard accounting practice," Sitharaman said.

PTI

First Published: Friday, August 8, 2014 - 17:34

More from zeenews

 
comments powered by Disqus