Author: kkslawoffices

Apple has decided to delay the launch of its three new AI features, including its highly anticipated “Apple Intelligence” AI product in European Union throughout 2024. The reason behind this is the “regulatory concerns” under the EU’s Digital Markets Act (DMA), an antitrust regulation aimed at ensuring fair competition within the tech industry.

A major relief to taxpayers was proposed in the 53rd GST Council Meeting, chaired by Finance Minister Nirmala Sitharaman on Saturday, by recommending sunset clause for anti-profiteering provisions. The Council recommended that no new applications for anti-profiteering would be accepted by the CCI starting April 1, 2025 and further it proposed that anti-profiteering cases would be shifted to GST Appellate Tribunal (GSTAT) from CCI

A 16-month investigation into allegations of breaching rules by YouTube related to bundling of its music streaming services with its ad-free premium subscription would reach an end by next month, as stated by the antitrust regulator of South Korea. The investigation concerns itself with whether the bundling of YouTube’s services has unfairly hindered the business of other music streamers and whether it has had adverse effect on competition in the Korean market.

The implementation application of ZEE Entertainment Enterprises Limited (ZEEL) that sought directions to Sony Group Corp-owned Culver Max Entertainment and Bangla Entertainment to implement the composite scheme of arrangement between the three companies was allowed to be withdrawn by the National Company Law Tribunal.

The proposed merger between Kroger and Albertsons has drawn objections from unions representing workers at both grocery chains. Colorado, in its complaint against the merger, alleged that during a 2022 strike by Kroger workers, Albertsons agreed not to hire those workers away. If the companies merge, it is likely that workers’ bargaining power will be further diminished.

The Securities and Exchange Board of India (SEBI) recently imposed penalties on promoter-directors of Advik Capital Ltd, Vikas Garg, Seema Garg, and Sukriti Garg, to the tune of Rs. 13,00,000/- for non-compliance with disclosure requirements related to acquiring significant stake as under Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

European Commissioner Margrethe Vestager indicated that EU has found significant concerns related to the Apple’s potential contravention of the provisions of Digital Markets Act (DMA) and stated that EU Regulators are preparing charges against the iPhone manufacturers. In March, the European Commission, the EU’s executive arm, initiated an investigation into major tech companies, including Apple, Alphabet and Meta, under the newly applicable DMA. The probe into Apple focused on several concerns, particularly whether the tech giant is obstructing businesses from informing users about cheaper alternatives for products or subscriptions outside of its App Store.

The Bihar Reservation of Vacancies in Posts and Services (for Scheduled Caste, Scheduled Tribes and Other Backward Classes) Amendment Act, 2023 and the Bihar Reservation (in Admission to Educational Institutions) Amendment Act, 2023 passed by the Bihar Legislature on 09.11.2023, that enhanced reservation of ST, SC, EBC and BC to 65% from existing 50%, was struck down by the Patna High Court for being unconstitutional and in violation of Articles, 14, 15 and 16 of the Constitution of India.

The participants to the deliberation on Digital Competition Bill, under MeitY, flagged that implementing foreign approach to digital competition in India, such as “ex-ante law”, would lead to the destruction of value and access to digital public goods and infrastructure. A senior government official said “Some of the think tanks also flagged that the current draft of the digital competition bill is similar to the Digital Markets Act of the EU and implementing the bill in the current form would be detrimental to the growth of startup unicorns of India”. This overlap was discussed in connection with the provisions of existing regulations such as the Information Technology Act of 2000 and the Information Technology Rules of 2021 were highlighted.

Acquisition of certain shares of WeWork India Management Pvt. Ltd. (WeWork) by Real Trustee Advisory Company Pvt. Ltd (Real Trustee) has received the approval of the Competition Commission of India (CCI). Real Trustee is the trustee for Volrado Venture Partners Fund II, Volrado Venture Partners Fund III – Beta and other independent co-acquirers.