Category: news

In a joint operation, the Hong Kong Competition Commission (HKCC) & the Hong Kong‘s Independent Commission Against Corruption (ICAC), conduct search & seizures operations at various offices of project contractors, consultancies & property management companies in relation to the alleged big-rigging by these companies in the building maintenance projects’ tenders. The companies have been alleged to have been manipulating “the tendering exercises of building maintenance projects, exaggerated contracts sums, assisted associated contractors to obtain maintenance projects and consultancy contracts, and manipulated project supervision and project payment release.”

The German Competition Regulator (Bundeskartellamt) has approved the acquisition of Cardior Pharmaceuticals GmbH (Cardior) by Novo Nordisk A/S (Novo Nordisk). Cardior is a biotech company, with operations in the development of active pharmaceutical ingredients for the medicines used for cardiac insufficiency or heart failure. On the other hand, Novo Nordisk is an international pharmaceutical company specializing in the development of treatment for diabetes & obesity. According to Bundeskartellamt, the proposed acquisition does not create any significant antitrust concerns as Cardior products works in a different way & is catrered towards a different set of consumers as compared to Novo Nordisk.

The Supreme Court (SC), while dealing with an appeal filed by an ex-employee of the GB Pant Institute, Ghurdauri, challenging his termination from service, on the ground of it being issued without, undertaking any enquiry or opportunity to show cause, has held that, the termination of the services “without holding disciplinary enquiry was totally unjustified and de hors the requirements of law and in gross violation of principles of natural justice”. The SC while quashing the termination order passed by the concerned authority, directed reinstatement of the employee.

The National Company Law Appellate Tribunal (NCLAT), in an appeal filed by a Suspended Director of Sporta Technology (Corporate Debtor – CD) against the order initiating Corporate Insolvency Resolution Process (CIRP) of the CD passed by the National Company Law Tribunal, Mumbai (NCLT-M), has held that, since the application for initiating CIRP mentions the date of default as March, 2020, the same is hit by rigorous of Section 10A of the IBC, 2016. The NCLAT noting that since the entire claim falls within the time period as prescribed under section 10A of the IBC, 2016, has set aside the order passed by the NCLT-M.

The Japan Fair Trade Commission (JFTC) has initiated a probe against Google, which has been alleged to be abusing its dominant position, by limiting the operations of rivals like – LY Corporation (LYC) & Yahoo Japan (Yahoo), in the online advertising market. It has been alleged that Google unilaterally made a request to LYC & Yahoo to halt part of their online advertising business for a certain period of time, in consideration of receiving technical assistance from Google for “keyword-targeted” online advertising service. The JFTC suspects Google’s conduct to be in violation of Japan’s antimonopoly law.

ZEE Entertainment Enterprises Ltd. (ZEE) has announced its decision to withdraw the merger enforcement application, filed before the National Company Law Tribunal, Mumbai (NCLT-M) for implementation of proposed merger with Culver Max Entertainment Pvt. Ltd (Sony). ZEE-Sony merger was announced back in 2021, which was later called-off by Sony. Thereafter, ZEE approached the NLCT-M seeking enforcement of the merger, which was allowed by NCLT-M in 2023. However, ZEE has now decided not to pursue the merger, citing growth & other strategic opportunities for maximum shareholder value generation.

The German Competition Regulator (Bundeskartellamt) has pointed out significant antitrust concerns in the proposed acquisition by Hunter Douglas GmbH, Düsseldorf (Hunter) of erfal GmbH & Co. KG, Falkenstein/Vogtland (Erfal). Hunter is a global manufacturer & a dominant player in the “market of systems used to produce interior window coverings”, especially window shades. In Germany, Hunter sells its systems & fabrics to fitters like Erfal. According to Bundeskartellamt, a consolidation between a manufacturer & consumer in the downstream market would have allowed Hunter to gain incentive to disadvantage its German competitors competing with erfal in the downstream market. Noting these concerns, the deal is being called off by the parties.

The regulatory authorities in the EU & Japan gave their clearance to the proposed acquisition of Capri Holdings (Capri) by Tapestry. Tapestry’s portfolio includes luxury apparel brands like Coach, Kate Spade & Stuart Weitzman, while, Capri owns brands like Michael Kors, Jimmy Choo & Versace. The acquisition will lead to consolidation of these luxury brands, to compete more effectively with the luxury brands’ behemoth – LVMH Group.

The Korean Federal Trade Commission (KFTC) has issued a direction to Samsung Electronics (Samsung) to take corrective steps to curb Samsung’s meddling with business operations of its authorised retail stores. According to KFTC, it was alleged that Samsung, starting from January 2017 through September 2023, compelled its authorised retailers to disclose the retail price information of 15,389 products, including refrigerators and washing machines, to Samsung. KFTC further pointed out that such an interference violates, the “fairness” objective under Korea’s franchise transactions act.

The Competition Commission of India (CCI) has dismissed a case filed against National (NABL) for imposing instructions by the asking Conformity Assessment Bodies (CAB), accredited to NABL, to convert from sole proprietorship to any other form of entity under the Companies Act, 2013. As per the information, CABs testing required accreditation from testing authorities like NABL. However, NABL, being the oldest with 90% market share & preference accorded to it by the departments of the Government, has become a dominant player. However, the CCI noting the commonality of case with Prem Prakash &NABL case, applied the similar reasoning & dismissed the case.