SUPREME COURT

Supreme Court dismisses WhatsApp, Meta appeal against CCI probe (OCT 14, 2022)

The Supreme Court on Friday refused to interfere with the probe ordered by CCI against WhatsApp and Meta for competition law violations and dismissed the special leave petitions preferred by the tech giants against the Delhi High Court order upholding a CCI order directing a probe.

Earlier this month WhatsApp and Meta approached the Supreme Court challenging the decision of a division bench of the Delhi High Court passed on August 25 this year.

The Delhi High Court had dismissed their plea to restrain the Competition Commission of India (CCI) from proceeding with its examination of the privacy policy update announced by WhatsApp in 2021.

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KARNATAKA HIGH COURT 

Karnataka High Court allows Ola, Uber, Rapido to offer autorickshaw services by collecting 10% additional charge on fares fixed by government (OCT 4, 2022)

Justice M.G.S. Kamal passed the interim order after the State Government admitted that it has not looked into the Motor Vehicles Aggregator Guidelines (MVAG) 2020 issued by the Central Government in November 2020, and sought 10-15 days for fixation of rates for autorickshaw services offered by aggregators based on the MVAG 2020.  

Contrary to the State Government’s claim that aggregators cannot offer autorickshaw services, the court found that MVAG 2020 lists autorickshaws, e-rickshaw, motor cab, motorcycle and bus as vehicles that can be offered through the platforms of aggregators.

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WORLD AFFAIRS 

UK finance minister Kwasi Kwarteng sacked after tax cuts spark outrage: Report (OCT 14, 2022)

British Prime Minister Liz Truss has fired her finance minister Kwasi Kwarteng, the BBC reported on Friday, shortly before she is expected to scrap parts of his economic package in a bid to survive the market and political turmoil gripping the country.

British government bonds rallied further on Friday, adding to their partial recovery since Truss's government started looking for ways to balance the books after her unfunded tax cuts crushed UK asset values and drew international censure.

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NEWS AT GLANCE 

  • Enforcement Directorate raids several places in Delhi in connection with Money Laundering.  
  • WPI inflation falls to 10.7 percent in September; Food inflation eases to 8.08 percent.  
  • Finance Minister Nirmala Sitharaman says, India can offer indigenous 5G technology to the world. 
  • World Bank warns that global economy is dangerously close to a recession.  
  • IMF says India is a bright spot on the dark horizon.

WORD OF THE DAY 

Lex nil frustra facit - The law does nothing in vain.

MARKET TODAY (as on 14.10.2022)

BSE SENSEX                  57,919.97 INR▲ +684.64 (+1.20%)

NIFTY 50                        17,185.70 INR▲ +171.35 (+1.01%)

1 US Dollar = 82.24 Indian Rupee (Last updated · 14 October at 1:24 pm UTC)

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