Pitching for more competition, Finance Minister Arun Jaitley today cautioned that pro-business environment without "pro-competition" policies can result in dangerous consequences, including crony capitalism.
Joining others in the sector, budget carrier GoAir hiked ticket cancellation charges to Rs 2,225 now. The charges were Rs 1,900 earlier. The new charges will be applicable from April 21, the company informed
Budget carrier SpiceJet has also increased its ticket cancellation charges by over Rs 350, days after its competitor IndiGo announced a flat charge of Rs 2,250 even as the DGCA deadline for airlines to submit their response on the issue ended on Friday
Drug major Sun Pharma has received approval from competition watchdog CCI to sell the erstwhile Ranbaxy Laboratories' two divisions in the central nervous system (CNS) segment in India to Strides Shasun for Rs 165 crore.
The Competition Commission has cleared Prem Watsa run Fairfax Financial Holdings' proposed acquisition of additional nine percent stake in ICICI Lombard General Insurance Company for an estimated Rs 1,550 crore.Following the transaction, Fairfax will hold 35 percent in ICICI Lombard, while ICICI Bank will have about 64 percent stake.
In a major ruling, the Competition Appellate Tribunal Friday set aside Rs 6,316.59 crore penalty imposed on 11 cement manufacturers by CCI for cartelisation and directed the fair trade regulator to pass a fresh order in three months.
Noting that Reliance Industries does not have significant presence in the relevant market, the Competition Commission of India (CCI) said the company is not dominant there, according to an order dated November 17.
Fair trade regulator CCI has asked Coal India to examine afresh its spot e-auction scheme to obviate possible violation of competition norms even as the watchdog rejected a complaint of unfair business practices against the state-owned miner.
India's largest realty firm DLF Monday said it has got fair trade regulator CCI's approval for the joint venture with Singapore's sovereign wealth fund GIC, which is investing Rs 1,990 crore in two projects here.