Supreme Court grants ED time to file response to Kerala's objections against transfer of gold smuggling case (OCT 21, 2022)
Kerala had described the allegations of the ED about interference in the probe as "imaginary apprehensions". Kerala had said the ED did not have a shred of material to establish any kind of harassment or hindering of the probe by either the State government or the police.
DELHI HIGH COURT
Future Group moves Delhi High Court on dismissal of its termination application by SIAC (OCT 21, 2022)
The Future Group on Thursday moved the Delhi High Court against the Singapore arbitral tribunal’s order that dismissed its plea for termination of the arbitration proceedings initiated by Amazon against the Rs 24,500-crore merger deal between Future Retail (FRL) and Reliance Retail.
The termination of arbitration proceedings was sought on the ground that the Competition Commission of India had in December suspended the 2019 deal between Amazon and Future Coupons (FCPL).
While the Singapore International Arbitration Centre (SIAC) on June 28 had dismissed the applications filed by FCPL and FRL, it had reserved the cost of these termination applications, as sought by Amazon, for determination at the final stages of the proceedings.
MINISTRY OF FINANCE (Department of Financial Services)
Appointment of Whole Time Member in PFRDA (OCT 21, 2022)
In exercise of powers conferred by Section 4 of the Pension Fund Regulatory and Development Authority Act, 2013 (23 of 2013), the Central Government hereby appoints Shri Narayana Rao Battu, Additional Secretary, Legislative Department, Ministry of Law & Justice to the post of Whole-Time Member (Law), Pension Fund Regulatory and Development Authority (PFRDA), with effect from the date of assumption of charge of the post till he attains the age of 62 years, or until further order, whichever is earlier.
For Gazette Notification, Click Here
BUSINESS NEWS
‘Major setback': Google on Competition Commission of India's ₹1,337 crore fine order (OCT 21, 2022)
On Thursday, the anti-trust watchdog ordered Google to pay a ₹1,337.76 crore fine for ‘abusing its dominant position’ in multiple markets in the Android ecosystem.
The CCI noted that Google ‘perpetuated’ its dominant position in the online search market thereby resulting in the denial of market access for competing search apps in contravention of Section 4(2)(e) of the Competition Act, 2002.
The CCI also accused Google of reducing the ability and incentive of device manufacturers to develop and sell devices operating on alternative versions of Android by making pre-installation of Google's proprietary apps conditional.
NEWS AT GLANCE
- ISRO plans to launch Chandrayaan-3, its third mission to moon, in June next year.
- Ten Heads of States, including French President Emmanuel Macron, extend their support to Prime Minister Modi’s unique initiative, Mission LiFE.
- Competition Commission of India imposes fine of over 1,337 crore rupees on Google for abusing its dominant position in multiple markets.
WORD OF THE DAY
VERDICT is the decision of a jury after a trial, which must be accepted by the trial judge to be final. A judgment by a judge sitting without a jury is not a verdict.
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