Category: news

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.

The Supreme Court (SC) in an appeal against the order of the National Consumer Disputes Redressal Commission (NCDRC) while dealing with the issue of whether investment made for profit or gain is susceptible to the jurisdiction of the Consumer Disputes Redressal Fora, has held that commercial disputes of this nature can appropriately be decided by the civil court & not in a summary proceeding under the Consumer Protection Act, 1986. The SC, while allowing the appeal, noted that the respondent had invested in appellant’s firm which is an investment for profit/gain – a commercial transaction.

The Delhi High Court (DHC) while dealing with cross suits filed by Lava International Ltd. (Lava) & Telefonaktiebolaget LM Ericsson (Ericsson) in relation to access to 8 standard essential patents (SEP) in relation to 2G & 3G Technology, has held Lava to be an “unwilling licensee” owing to its failure to negotiate with Ericsson in good faith, delaying negotiations & failing to respond to offers. The DHC noting Lava at fault held Ericsson to be liable to receive damages in relation to its SEPs on the basis of “loss of royalty/license fees it would have received had Lava executed a FRAND license agreement at the commencement of its business operations.”

The Delhi High Court (DHC) in a suit filed by Haldiram India Pvt. Ltd. (Haldiram) seeking protection of it’s mark ‘HALDIRAM’, considering the long use of the mark since 1960s & the renowned reputation of the brand in the food industry, has granted it, the status of a ‘well-known’ trademark in terms of Section 2(1)(zg) of the Trade Marks Act, 1999. The DHC further extended this status to the Haldiram’s Oval-shaped mark in respect of food items, restaurants & eateries.

The Competition and Consumer Commission of Singapore (CCCS) has issued interim directions to Delivery Hero SE (Delivery Hero) & Grab Holdings Inc. (Grab), in relation to the proposed acquisition of Southeast Asia’s business of Delivery Hero by Grab. Pending investigation of the proposed acquisition, CCCS to ensure contestability in the market for the supply of online food ordering & delivery services in Singapore (OFOD), has directed, inter alia, that both the parties must not take any action that would lead to possible integration of OFOD market in Singapore or materially impact the viability & saleability of Delivery Hero’s OFOD businesses in Singapore.

Liberty Media Corporation (Liberty) – owner of the motorsport business Formula One, on 01.04.2024, has announced an agreement to acquire majority stake in Dorna Sports, S.L. (Dorna) – exclusive commercial rights holder of the motorcycle racing world championship – MotoGP. If the deal is allowed to go through, Liberty will acquire 84% of Dorna, from Bridgepoint and Canada Pension Plan Investment Board.