Competition Commission of India

Competition Commission of India organises 7th edition of National Conference on Economics of competition law (4 March 2022)

The Competition Commission of India (CCI) today organized the Seventh National Conference on Economics of Competition Law in virtual mode. Mr Neelkanth Mishra Member, Economic Advisory Council to the Prime Minister, was the Keynote Speaker at the Conference. Mr Ashok Kumar Gupta, Chairperson, CCI, delivered the Special Address at the Inaugural Session and Dr Sangeeta Verma, Member, CCI opened the Conference with her opening remarks. 

The Keynote Address by Mr Neelkanth Mishra focused on the emergence of technology giants and the challenges and novel questions it poses for regulation and regulators. Mr Mishra, in his address, discussed the key technological and economic factors such as, network effects, scale economies, synergies between intangible assets within technology ecosystems etc. that give rise to concentration of market power in digital markets. Elucidating the features and metrics that are relevant in digital markets distinguishing them from traditional markets, he referred to the importance of investments in intangible assets such as brands, software, patents etc., financing aspects such as the predominance of venture capital funds and private equity funding.

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SEBI

SEBI slaps rupees 15 lakh penalty on three entities (4 March 2022)

  • Capital markets regulator Sebi on Friday imposed penalties totalling Rs 15 lakh on three entities for indulging in non-genuine trades in illiquid stock options segment on BSE.
  • In three separate orders, the regulator levied a fine of Rs 5 lakh each on Rekha Pradeep Gangolli, Banwri Lal Sultania HUF and Sanjay Khandelwal.
  • The orders came after Sebi observed large scale reversal trades in the stock options segment on BSE, leading to the alleged creation of artificial volumes.

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SEBI asks Indiabulls to address issues where it was found non-compliant (March 04, 2022)

Market regulator Securities and Exchange Board of India (SEBI) in its investigation against Indiabulls Housing Finance has found the mortgage financier non-compliant with regards to unavailability of certain information on its website as well as its internal policy. 

Thereby, it has directed the company to take corrective measures and inform the stock exchanges in a months’ time.

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Central Board of Indirect Taxes and Customs ( CBIC )

GST evasion: CBIC cautions against sharing Aadhaar, PAN details without valid reasons (March 03, 2022)

Over the past years, Goods and Services Tax (GST) officers have busted several bogus firms, which were used to raise fake invoices without any actual supply of goods. The sole intention is to fraudulently claim Input Tax Credit (ITC). 

The CBIC on March 03, 2022 cautioned the public against sharing Aadhaar and PAN details without a valid reason or for monetary gains, saying that the information could be misused by fraudsters for GST evasion.

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Business

Amazon once again proposes dialogue with Future Group to end legal battles (March 04, 2022) 

US e-commerce giant Amazon has again proposed a dialogue with Future Group to end their legal battles, to which the Kishore Biyani-led retailer has agreed. The parties are in dispute on Reliance Industries Ltd. (RIL) acquiring Future Group companies. The Supreme Court has given both sides time until March 15, 2022 to explore a settlement.

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Reliance Industries makes debut in electronics manufacturing with US firm (March 04, 2022) 

Reliance Industries Limited (RIL) on March 03, 2022 entered the electronics manufacturing segment through a tie-up with US-based Sanmina Corporation and will invest Rs. 1,670 crore in the latter’s Indian entity to take a 50.1% stake. The joint venture will manufacture high technology electronics hardware like 5G network products, aerospace items, healthcare systems, among others. The partnership will allow Reliance Jio to get home-made radio equipment for its 5G rollout. 

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Word of the day

Organizational Ambidexterity: Organizational ambidexterity refers to the ability of an organization to both explore and exploit to compete in mature technologies and markets where efficiency, control, and incremental improvement are prized and to also compete in new technologies and markets where flexibility, autonomy, and experimentation are needed.


Market Today  (4.03.2022)

BSE Sensex             54333.81 (-768.87)

Nifty 50                    16245.35 (-252.70)


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